Crestline Management LP Makes New Investment in Inter Parfums, Inc. (NASDAQ:IPAR)

Crestline Management LP bought a new position in Inter Parfums, Inc. (NASDAQ:IPAR) in the 4th quarter, according to its most recent filing with the Securities and Exchange Commission (SEC). The firm bought 1,613 shares of the company’s stock, valued at approximately $212,000.

Other hedge funds and other institutional investors also recently made changes to their positions in the company. Legal & General Group Plc boosted its holdings in shares of Inter Parfums by 7.9% in the fourth quarter. Legal & General Group Plc now owns 53,264 shares of the company’s stock worth $7,005,000 after buying an additional 3,911 shares during the period. Steward Partners Investment Advisory LLC boosted its holdings in shares of Inter Parfums by 36.3% in the fourth quarter. Steward Partners Investment Advisory LLC now owns 4,108 shares of the company’s stock worth $540,000 after buying an additional 1,095 shares during the period. Vanguard Group Inc. boosted its holdings in shares of Inter Parfums by 1.0% in the fourth quarter. Vanguard Group Inc. now owns 2,050,621 shares of the company’s stock worth $269,677,000 after buying an additional 20,721 shares during the period. Wells Fargo & Company MN boosted its holdings in shares of Inter Parfums by 3.8% in the fourth quarter. Wells Fargo & Company MN now owns 49,109 shares of the company’s stock worth $6,458,000 after buying an additional 1,780 shares during the period. Finally, Annex Advisory Services LLC boosted its holdings in shares of Inter Parfums by 36.5% in the fourth quarter. Annex Advisory Services LLC now owns 118,390 shares of the company’s stock worth $15,569,000 after buying an additional 31,654 shares during the period. 55.57% of the stock is currently owned by institutional investors and hedge funds.

Analyst Upgrades and Downgrades

Several research analysts have commented on the stock. DA Davidson reiterated a “buy” rating and issued a $170.00 target price on shares of Inter Parfums in a report on Tuesday, March 25th. Piper Sandler restated an “overweight” rating and set a $138.00 price target (down from $169.00) on shares of Inter Parfums in a report on Thursday, April 24th. BWS Financial restated a “buy” rating and set a $172.00 price target on shares of Inter Parfums in a report on Wednesday, May 7th. Finally, Canaccord Genuity Group raised their price target on shares of Inter Parfums from $158.00 to $168.00 and gave the stock a “buy” rating in a report on Thursday, February 27th. One analyst has rated the stock with a hold rating and five have issued a buy rating to the company. According to MarketBeat.com, the company presently has a consensus rating of “Moderate Buy” and a consensus target price of $157.60.

Inter Parfums Trading Down 0.7%

Shares of IPAR stock opened at $118.96 on Monday. Inter Parfums, Inc. has a 1 year low of $97.65 and a 1 year high of $148.15. The firm’s fifty day simple moving average is $114.37 and its 200 day simple moving average is $126.96. The firm has a market capitalization of $3.82 billion, a P/E ratio of 25.53 and a beta of 1.33. 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 (NASDAQ:IPAR) last announced its earnings results on Monday, May 5th. The company reported $1.32 earnings per share (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 quarter in the previous year, the firm posted $1.27 earnings per share. Inter Parfums’s revenue was up 4.6% compared to the same quarter last year. As a group, sell-side analysts predict that Inter Parfums, Inc. will post 5.14 EPS for the current 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 given a dividend of $0.80 per share. This represents a $3.20 dividend on an annualized basis and a yield of 2.69%. The ex-dividend date of this dividend is Friday, June 13th. Inter Parfums’s dividend payout ratio (DPR) is currently 62.26%.

About Inter Parfums

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.