PNC Financial Services Group Inc. Raises Stock Holdings in Interparfums, Inc. $IPAR

PNC Financial Services Group Inc. raised its position in Interparfums, Inc. (NASDAQ:IPAR) by 5.7% in the first quarter, according to the company in its most recent Form 13F filing with the Securities and Exchange Commission. The fund owned 1,823 shares of the company’s stock after buying an additional 98 shares during the quarter. PNC Financial Services Group Inc.’s holdings in Interparfums were worth $208,000 as of its most recent filing with the Securities and Exchange Commission.

A number of other institutional investors and hedge funds also recently added to or reduced their stakes in IPAR. T. Rowe Price Investment Management Inc. increased its holdings in shares of Interparfums by 10.7% in the fourth quarter. T. Rowe Price Investment Management Inc. now owns 1,124,728 shares of the company’s stock valued at $147,913,000 after purchasing an additional 108,321 shares during the period. Victory Capital Management Inc. raised its stake in shares of Interparfums by 26.9% during the first quarter. Victory Capital Management Inc. now owns 715,004 shares of the company’s stock worth $81,418,000 after purchasing an additional 151,358 shares during the last quarter. Westwood Holdings Group Inc. purchased a new stake in shares of Interparfums during the fourth quarter worth approximately $46,649,000. Bank of America Corp DE raised its stake in shares of Interparfums by 10.9% during the fourth quarter. Bank of America Corp DE now owns 195,771 shares of the company’s stock worth $25,746,000 after purchasing an additional 19,284 shares during the last quarter. Finally, Bessemer Group Inc. raised its stake in shares of Interparfums by 26.2% during the first quarter. Bessemer Group Inc. now owns 179,355 shares of the company’s stock worth $20,423,000 after purchasing an additional 37,184 shares during the last quarter. Hedge funds and other institutional investors own 55.57% of the company’s stock.

Interparfums Stock Performance

Shares of IPAR stock opened at $112.80 on Monday. Interparfums, Inc. has a 1-year low of $97.65 and a 1-year high of $148.15. The company has a current ratio of 2.96, a quick ratio of 1.69 and a debt-to-equity ratio of 0.14. The company has a market capitalization of $3.62 billion, a price-to-earnings ratio of 22.61 and a beta of 1.43. The stock’s fifty day simple moving average is $129.33 and its 200-day simple moving average is $125.63.

Interparfums (NASDAQ:IPAR) last released its earnings results on Tuesday, August 5th. The company reported $0.99 earnings per share (EPS) for the quarter, missing analysts’ consensus estimates of $1.10 by ($0.11). Interparfums had a return on equity of 16.45% and a net margin of 11.03%. The company had revenue of $333.94 million during the quarter, compared to analysts’ expectations of $357.58 million. During the same quarter in the previous year, the company earned $1.14 EPS. The firm’s quarterly revenue was down 2.3% compared to the same quarter last year. On average, sell-side analysts predict that Interparfums, Inc. will post 5.14 earnings per share for the current fiscal year.

Analyst Ratings Changes

IPAR has been the topic of a number of recent analyst reports. BWS Financial reaffirmed a “buy” rating and set a $172.00 price objective on shares of Interparfums in a report on Wednesday, May 7th. Piper Sandler reiterated an “overweight” rating and set a $138.00 target price (down from $169.00) on shares of Interparfums in a research report on Thursday, April 24th.

Insider Transactions at Interparfums

In related news, VP Philippe Santi sold 1,000 shares of the business’s stock in a transaction dated Tuesday, June 10th. The stock was sold at an average price of $139.23, for a total transaction of $139,230.00. The transaction was disclosed in a legal filing with the Securities & Exchange Commission, which is accessible through this link. Also, Director Gilbert Harrison sold 400 shares of the business’s stock in a transaction dated Monday, June 23rd. The stock was sold at an average price of $133.96, for a total value of $53,584.00. Following the transaction, the director directly owned 1,550 shares of the company’s stock, valued at $207,638. This represents a 20.51% decrease in their position. The disclosure for this sale can be found here. 43.70% of the stock is owned by insiders.

About Interparfums

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.