MeadowBrook Investment Advisors LLC Lowers Holdings in Inter Parfums, Inc. (NASDAQ:IPAR)

MeadowBrook Investment Advisors LLC decreased its stake in Inter Parfums, Inc. (NASDAQ:IPAR) by 23.2% during the third quarter, according to its most recent disclosure with the Securities & Exchange Commission. The fund owned 1,290 shares of the company’s stock after selling 390 shares during the quarter. MeadowBrook Investment Advisors LLC’s holdings in Inter Parfums were worth $167,000 as of its most recent SEC filing.

A number of other hedge funds have also recently modified their holdings of the stock. CWM LLC boosted its position in Inter Parfums by 44.4% during the second quarter. CWM LLC now owns 286 shares of the company’s stock worth $33,000 after purchasing an additional 88 shares in the last quarter. Blue Trust Inc. boosted its position in Inter Parfums by 83.4% during the third quarter. Blue Trust Inc. now owns 651 shares of the company’s stock worth $84,000 after purchasing an additional 296 shares in the last quarter. Mendota Financial Group LLC purchased a new position in Inter Parfums during the second quarter worth approximately $89,000. Crossmark Global Holdings Inc. purchased a new position in Inter Parfums during the third quarter worth approximately $209,000. Finally, Choreo LLC purchased a new position in Inter Parfums during the second quarter worth approximately $213,000. Hedge funds and other institutional investors own 55.57% of the company’s stock.

Inter Parfums Price Performance

Shares of NASDAQ:IPAR traded down $0.74 during midday trading on Thursday, hitting $127.46. The company had a trading volume of 10,505 shares, compared to its average volume of 145,121. Inter Parfums, Inc. has a twelve month low of $108.39 and a twelve month high of $156.75. 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 has a market cap of $4.08 billion, a price-to-earnings ratio of 27.51 and a beta of 1.16. The business’s 50-day simple moving average is $122.42 and its 200-day simple moving average is $122.47.

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

Inter Parfums Announces Dividend

The firm also recently announced a quarterly dividend, which will be paid on Tuesday, December 31st. Shareholders of record on Monday, December 16th will be paid a dividend of $0.75 per share. The ex-dividend date of this dividend is Monday, December 16th. This represents a $3.00 annualized dividend and a yield of 2.35%. Inter Parfums’s dividend payout ratio (DPR) is 64.38%.

Analyst Ratings Changes

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

Insiders Place Their Bets

In other Inter Parfums news, Director Veronique Gabai-Pinsky sold 1,500 shares of the firm’s stock in a transaction on Monday, August 19th. The stock was sold at an average price of $125.96, for a total transaction of $188,940.00. The transaction was disclosed in a legal filing with the Securities & Exchange Commission, which is available at the SEC website. 43.90% of the stock is owned by insiders.

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.