Tower Research Capital LLC TRC Sells 2,565 Shares of Inter Parfums, Inc. (NASDAQ:IPAR)

Tower Research Capital LLC TRC lowered its position in shares of Inter Parfums, Inc. (NASDAQ:IPAR - Free Report) by 58.5% during the 4th quarter, according to its most recent disclosure with the Securities & Exchange Commission. The institutional investor owned 1,820 shares of the company's stock after selling 2,565 shares during the quarter. Tower Research Capital LLC TRC's holdings in Inter Parfums were worth $239,000 at the end of the most recent quarter.

Other large investors have also recently added to or reduced their stakes in the company. Barclays PLC boosted its position in Inter Parfums by 293.0% in the 3rd quarter. Barclays PLC now owns 34,689 shares of the company's stock valued at $4,492,000 after buying an additional 25,862 shares during the last quarter. Synovus Financial Corp boosted its position in Inter Parfums by 12.3% in the third quarter. Synovus Financial Corp now owns 4,546 shares of the company's stock valued at $589,000 after buying an additional 499 shares in the last quarter. GAMMA Investing LLC raised its stake in shares of Inter Parfums by 55.9% during the fourth quarter. GAMMA Investing LLC now owns 226 shares of the company's stock valued at $30,000 after acquiring an additional 81 shares during the last quarter. Park Avenue Securities LLC boosted its position in shares of Inter Parfums by 12.8% during the 4th quarter. Park Avenue Securities LLC now owns 2,872 shares of the company's stock valued at $378,000 after purchasing an additional 326 shares in the last quarter. Finally, Annex Advisory Services LLC lifted its holdings in shares of Inter Parfums by 36.5% in the 4th quarter. Annex Advisory Services LLC now owns 118,390 shares of the company's stock worth $15,569,000 after purchasing an additional 31,654 shares in the last quarter. 55.57% of the stock is currently owned by institutional investors and hedge funds.

Analyst Upgrades and Downgrades

A number of equities research analysts have recently issued reports on IPAR shares. DA Davidson reaffirmed a "buy" rating and issued a $170.00 price objective on shares of Inter Parfums in a research note on Tuesday, March 25th. Canaccord Genuity Group lifted their price target on shares of Inter Parfums from $158.00 to $168.00 and gave the company a "buy" rating in a report on Thursday, February 27th. BWS Financial reissued a "buy" rating and set a $172.00 target price on shares of Inter Parfums in a research note on Wednesday. Finally, Piper Sandler reaffirmed an "overweight" rating and set a $138.00 target price (down from $169.00) on shares of Inter Parfums in a research report on Thursday, April 24th. One research analyst has rated the stock with a hold rating and five have assigned a buy rating to the stock. According to MarketBeat.com, Inter Parfums presently has a consensus rating of "Moderate Buy" and an average target price of $157.60.

Inter Parfums Stock Performance

Inter Parfums stock traded down $0.21 during trading hours on Wednesday, hitting $119.79. The stock had a trading volume of 313,922 shares, compared to its average volume of 180,107. The company has a market cap of $3.85 billion, a PE ratio of 25.71 and a beta of 1.33. The company has a 50-day moving average of $114.95 and a two-hundred day moving average of $126.89. Inter Parfums, Inc. has a fifty-two week low of $97.65 and a fifty-two week high of $148.15. The company has a quick ratio of 1.60, a current ratio of 2.82 and a debt-to-equity ratio of 0.14.

Inter Parfums (NASDAQ:IPAR - Get Free Report) last issued its quarterly earnings data on Monday, May 5th. The company reported $1.32 EPS for the quarter, topping analysts' consensus estimates of $1.13 by $0.19. Inter Parfums had a net margin of 10.60% and a return on equity of 16.34%. The business had revenue of $339.00 million for the quarter, compared to analyst estimates of $329.21 million. During the same period last year, the business posted $1.27 earnings per share. The firm's quarterly revenue was up 4.6% on a year-over-year basis. On average, equities research analysts anticipate that Inter Parfums, Inc. will post 5.14 EPS for the current fiscal year.

Inter Parfums Announces Dividend

The business also recently announced a quarterly dividend, which will be paid on Monday, June 30th. Investors of record on Friday, June 13th will be paid a $0.80 dividend. This represents a $3.20 dividend on an annualized basis and a yield of 2.67%. The ex-dividend date is Friday, June 13th. Inter Parfums's dividend payout ratio is currently 62.87%.

Inter Parfums Profile

Inter Parfums, Inc, together with its subsidiaries, manufactures, markets, and distributes a range of fragrances and fragrance related products in the United States and internationally. It operates in two segments, European Based Operations and United States Based Operations. The company offers its fragrance and cosmetic products under the Boucheron, Coach, Jimmy Choo, Karl Lagerfeld, Kate Spade, Lanvin, Moncler, Montblanc, Rochas, S.T.