Inter Parfums, Inc. (NASDAQ:IPAR) Shares Sold by Legacy Wealth Asset Management LLC

Legacy Wealth Asset Management LLC cut its stake in Inter Parfums, Inc. (NASDAQ:IPAR) by 11.8% in the fourth quarter, according to its most recent Form 13F filing with the Securities and Exchange Commission. The firm owned 5,292 shares of the company’s stock after selling 707 shares during the quarter. Legacy Wealth Asset Management LLC’s holdings in Inter Parfums were worth $696,000 at the end of the most recent reporting period.

Several other institutional investors have also recently made changes to their positions in the company. Commonwealth Equity Services LLC increased its stake in shares of Inter Parfums by 2.8% in the 2nd quarter. Commonwealth Equity Services LLC now owns 3,363 shares of the company’s stock valued at $390,000 after purchasing an additional 92 shares in the last quarter. Victory Capital Management Inc. raised its stake in shares of Inter Parfums by 4.2% during the 2nd quarter. Victory Capital Management Inc. now owns 6,618 shares of the company’s stock worth $768,000 after buying an additional 265 shares during the period. Choreo LLC acquired a new position in shares of Inter Parfums during the 2nd quarter worth approximately $213,000. Envestnet Asset Management Inc. lifted its position in shares of Inter Parfums by 7.7% during the 2nd quarter. Envestnet Asset Management Inc. now owns 162,069 shares of the company’s stock valued at $18,805,000 after buying an additional 11,588 shares in the last quarter. Finally, Dimensional Fund Advisors LP increased its holdings in Inter Parfums by 0.7% in the 2nd quarter. Dimensional Fund Advisors LP now owns 735,841 shares of the company’s stock worth $85,384,000 after acquiring an additional 4,862 shares in the last quarter. 55.57% of the stock is owned by hedge funds and other institutional investors.

Wall Street Analyst Weigh In

Several equities analysts have issued reports on the stock. DA Davidson reaffirmed a “buy” rating and set a $163.00 price objective on shares of Inter Parfums in a report on Wednesday, December 18th. Canaccord Genuity Group assumed coverage on Inter Parfums in a report on Thursday. They issued a “buy” rating and a $158.00 price objective on the stock. BWS Financial reissued a “buy” rating and set a $172.00 target price on shares of Inter Parfums in a report on Monday, November 11th. Finally, Piper Sandler boosted their price target on Inter Parfums from $155.00 to $164.00 and gave the stock an “overweight” rating in a research report on Wednesday, December 4th. One analyst has rated the stock with a hold rating and five have given a buy rating to the company. According to MarketBeat, the company has an average rating of “Moderate Buy” and an average price target of $159.40.

Inter Parfums Trading Up 0.5 %

Shares of Inter Parfums stock opened at $138.59 on Friday. The company has a debt-to-equity ratio of 0.14, a current ratio of 2.82 and a quick ratio of 1.60. The stock’s 50 day simple moving average is $132.73 and its 200-day simple moving average is $127.36. The stock has a market cap of $4.44 billion, a P/E ratio of 29.74 and a beta of 1.20. Inter Parfums, Inc. has a 1-year low of $108.39 and a 1-year high of $156.75.

Inter Parfums (NASDAQ:IPAR) last released its quarterly earnings data on Wednesday, November 6th. The company reported $1.93 earnings per share for the quarter, topping analysts’ consensus estimates of $1.83 by $0.10. Inter Parfums had a return on equity of 16.34% and a net margin of 10.60%. The company had revenue of $425.00 million for the quarter, compared to analyst estimates of $425.00 million. During the same quarter in the previous year, the company posted $1.66 earnings per share. The firm’s revenue for the quarter was up 15.5% compared to the same quarter last year. Analysts predict that Inter Parfums, Inc. will post 5.15 EPS for the current fiscal year.

Insider Activity

In other Inter Parfums news, COO Pelayo Frederic Garcia sold 4,000 shares of the firm’s stock in a transaction on Friday, November 22nd. The stock was sold at an average price of $133.04, for a total transaction of $532,160.00. The transaction was disclosed in a legal filing with the Securities & Exchange Commission, which is available at the SEC website. Corporate insiders own 43.90% of the company’s stock.

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.