Amalgamated Bank Lowers Stake in Inter Parfums, Inc. (NASDAQ:IPAR)

Amalgamated Bank reduced its position in shares of Inter Parfums, Inc. (NASDAQ:IPAR) by 3.6% during the 3rd quarter, HoldingsChannel reports. The fund owned 5,303 shares of the company’s stock after selling 196 shares during the period. Amalgamated Bank’s holdings in Inter Parfums were worth $687,000 at the end of the most recent reporting period.

Other hedge funds have also modified their holdings of the company. CWM LLC boosted its stake in shares of Inter Parfums by 44.4% during the 2nd quarter. CWM LLC now owns 286 shares of the company’s stock worth $33,000 after acquiring an additional 88 shares in the last quarter. Blue Trust Inc. raised its position in shares of Inter Parfums by 83.4% during the 3rd quarter. Blue Trust Inc. now owns 651 shares of the company’s stock worth $84,000 after purchasing an additional 296 shares during the last quarter. Mendota Financial Group LLC acquired a new position in shares of Inter Parfums during the 2nd quarter worth about $89,000. Choreo LLC acquired a new position in shares of Inter Parfums during the 2nd quarter worth about $213,000. Finally, Berry Wealth Group LP raised its position in shares of Inter Parfums by 7.4% during the 2nd quarter. Berry Wealth Group LP now owns 1,850 shares of the company’s stock worth $215,000 after purchasing an additional 128 shares during the last quarter. 55.57% of the stock is owned by hedge funds and other institutional investors.

Insider Activity

In other news, Director Veronique Gabai-Pinsky sold 1,500 shares of the stock in a transaction that occurred on Monday, August 19th. The shares were sold at an average price of $125.96, for a total value of $188,940.00. The transaction was disclosed in a legal filing with the Securities & Exchange Commission, which is accessible through the SEC website. Corporate insiders own 43.90% of the company’s stock.

Inter Parfums Stock Down 4.6 %

IPAR stock opened at $124.65 on Friday. The company has a market cap of $3.99 billion, a price-to-earnings ratio of 26.75 and a beta of 1.16. The company has a current ratio of 2.82, a quick ratio of 1.60 and a debt-to-equity ratio of 0.14. Inter Parfums, Inc. has a 12 month low of $108.39 and a 12 month high of $156.75. The firm has a 50-day moving average of $122.71 and a two-hundred day moving average of $122.57.

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

Inter Parfums Announces Dividend

The company also recently declared a quarterly dividend, which will be paid on Tuesday, December 31st. Stockholders of record on Monday, December 16th will be paid a $0.75 dividend. The ex-dividend date of this dividend is Monday, December 16th. This represents a $3.00 annualized dividend and a dividend yield of 2.41%. Inter Parfums’s dividend payout ratio (DPR) is 64.38%.

Analyst Upgrades and Downgrades

Several research analysts recently weighed in on IPAR shares. BWS Financial restated a “buy” rating and set a $172.00 price target on shares of Inter Parfums in a research report on Monday, November 11th. StockNews.com upgraded shares of Inter Parfums from a “sell” rating to a “hold” rating in a research report on Wednesday, August 7th. DA Davidson restated a “buy” rating and set a $163.00 price target on shares of Inter Parfums in a research report on Tuesday. Finally, Piper Sandler reduced their price target on shares of Inter Parfums from $158.00 to $155.00 and set an “overweight” rating for the company in a research report on Wednesday. One equities research analyst has rated the stock with a hold rating and four have assigned a buy rating to the stock. According to data from MarketBeat.com, the company currently has an average rating of “Moderate Buy” and an average target price of $157.50.

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.