Interparfums, Inc. $IPAR Stake Cut by New York State Common Retirement Fund

New York State Common Retirement Fund cut its holdings in shares of Interparfums, Inc. (NASDAQ:IPAR) by 38.2% in the third quarter, according to its most recent filing with the Securities and Exchange Commission. The firm owned 10,932 shares of the company’s stock after selling 6,766 shares during the quarter. New York State Common Retirement Fund’s holdings in Interparfums were worth $1,075,000 at the end of the most recent quarter.

Several other institutional investors and hedge funds also recently bought and sold shares of the business. Exchange Traded Concepts LLC purchased a new stake in shares of Interparfums in the third quarter worth approximately $34,000. First Horizon Advisors Inc. lifted its position in Interparfums by 71.2% in the 2nd quarter. First Horizon Advisors Inc. now owns 375 shares of the company’s stock worth $49,000 after buying an additional 156 shares in the last quarter. Elevation Point Wealth Partners LLC purchased a new stake in Interparfums in the 2nd quarter worth approximately $84,000. Blue Trust Inc. boosted its stake in shares of Interparfums by 34.6% during the 2nd quarter. Blue Trust Inc. now owns 681 shares of the company’s stock valued at $89,000 after buying an additional 175 shares during the period. Finally, State of Wyoming purchased a new position in shares of Interparfums during the 2nd quarter valued at $127,000. Hedge funds and other institutional investors own 55.57% of the company’s stock.

Interparfums Trading Down 2.3%

Shares of IPAR stock opened at $100.05 on Tuesday. Interparfums, Inc. has a 12 month low of $77.21 and a 12 month high of $148.15. The company has a quick ratio of 1.99, a current ratio of 3.27 and a debt-to-equity ratio of 0.13. The business’s 50 day moving average is $88.94 and its two-hundred day moving average is $97.17. The company has a market cap of $3.21 billion, a PE ratio of 19.58 and a beta of 1.24.

Wall Street Analysts Forecast Growth

Several analysts recently issued reports on IPAR shares. Berenberg Bank began coverage on Interparfums in a report on Friday, November 21st. They set a “buy” rating and a $103.00 price objective for the company. Weiss Ratings reaffirmed a “hold (c-)” rating on shares of Interparfums in a research note on Monday, December 29th. BWS Financial reiterated a “neutral” rating and set a $85.00 price target on shares of Interparfums in a report on Thursday, January 29th. Zacks Research upgraded Interparfums from a “strong sell” rating to a “hold” rating in a report on Monday, February 2nd. Finally, Jefferies Financial Group initiated coverage on shares of Interparfums in a research report on Wednesday, January 14th. They set a “buy” rating and a $112.00 price objective on the stock. One investment analyst has rated the stock with a Strong Buy rating, five have issued a Buy rating and three have given a Hold rating to the company. According to MarketBeat, Interparfums currently has an average rating of “Moderate Buy” and an average target price of $119.14.

Interparfums Company Profile

Interparfums, Inc is a global fragrance company that designs, manufactures and distributes a broad range of premium perfume and cosmetic products. Operating primarily through licensing agreements with established fashion and luxury brands, the company oversees every stage of product development from concept and formulation to production and global distribution. Its portfolio encompasses well-known names in the fragrance industry, including Montblanc, Coach, Jimmy Choo, Van Cleef & Arpels and Lanvin, among others.

The company’s core activities include fragrance creation, brand management and international logistics.