California Public Employees Retirement System Has $5.02 Million Stake in Inter Parfums, Inc. (NASDAQ:IPAR)

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California Public Employees Retirement System raised its position in Inter Parfums, Inc. (NASDAQ:IPAR) by 77.3% during the fourth quarter, according to its most recent filing with the SEC. The firm owned 69,038 shares of the company’s stock after purchasing an additional 30,109 shares during the period. California Public Employees Retirement System owned 0.22% of Inter Parfums worth $5,020,000 as of its most recent filing with the SEC.

Several other hedge funds and other institutional investors have also recently modified their holdings of IPAR. Russell Investments Group Ltd. lifted its position in shares of Inter Parfums by 137.2% in the 3rd quarter. Russell Investments Group Ltd. now owns 68,066 shares of the company’s stock worth $4,715,000 after purchasing an additional 39,368 shares during the period. SG Americas Securities LLC lifted its position in shares of Inter Parfums by 1,203.9% in the 3rd quarter. SG Americas Securities LLC now owns 37,645 shares of the company’s stock worth $2,634,000 after purchasing an additional 34,758 shares during the period. Eagle Asset Management Inc. lifted its position in shares of Inter Parfums by 24.2% in the 3rd quarter. Eagle Asset Management Inc. now owns 137,583 shares of the company’s stock worth $9,626,000 after purchasing an additional 26,832 shares during the period. Dupont Capital Management Corp acquired a new position in shares of Inter Parfums in the 3rd quarter worth approximately $876,000. Finally, Squarepoint Ops LLC lifted its position in shares of Inter Parfums by 217.8% in the 3rd quarter. Squarepoint Ops LLC now owns 16,760 shares of the company’s stock worth $1,173,000 after purchasing an additional 11,487 shares during the period. Hedge funds and other institutional investors own 54.47% of the company’s stock.

Inter Parfums stock opened at $69.99 on Friday. The company has a quick ratio of 2.24, a current ratio of 3.24 and a debt-to-equity ratio of 0.06. Inter Parfums, Inc. has a 12-month low of $62.38 and a 12-month high of $81.40. The firm’s fifty day moving average is $71.48 and its 200 day moving average is $70.42. The company has a market capitalization of $2.20 billion, a PE ratio of 36.64, a PEG ratio of 2.72 and a beta of 0.84.

In related news, CFO Russell Greenberg sold 3,800 shares of the business’s stock in a transaction on Thursday, January 16th. The shares were sold at an average price of $74.60, for a total transaction of $283,480.00. Following the transaction, the chief financial officer now owns 3,800 shares in the company, valued at approximately $283,480. The transaction was disclosed in a filing with the Securities & Exchange Commission, which can be accessed through this hyperlink. Also, insider Philippe Benacin sold 8,701 shares of the business’s stock in a transaction on Wednesday, December 18th. The shares were sold at an average price of $70.52, for a total transaction of $613,594.52. Following the transaction, the insider now owns 3,184 shares in the company, valued at approximately $224,535.68. The disclosure for this sale can be found here. Insiders have sold a total of 20,784 shares of company stock worth $1,486,876 in the last quarter. 44.60% of the stock is owned by corporate insiders.

A number of brokerages have recently issued reports on IPAR. Zacks Investment Research downgraded shares of Inter Parfums from a “hold” rating to a “strong sell” rating and set a $62.00 price target on the stock. in a research report on Friday, January 3rd. BidaskClub downgraded shares of Inter Parfums from a “sell” rating to a “strong sell” rating in a research report on Tuesday. Finally, DA Davidson dropped their target price on shares of Inter Parfums from $82.00 to $76.00 and set a “neutral” rating on the stock in a research report on Thursday, November 21st. Two analysts have rated the stock with a sell rating, three have assigned a hold rating and one has given a buy rating to the stock. The stock presently has an average rating of “Hold” and an average target price of $74.75.

Inter Parfums Profile

Inter Parfums, Inc, together with its subsidiaries, manufactures, markets, and distributes a range of fragrances and fragrance related products. The company operates in two segments, European Based Operations and United States Based Operations. It offers its fragrance and cosmetic products under the Boucheron, Coach, Jimmy Choo, Karl Lagerfeld, Lanvin, Montblanc, Paul Smith, Repetto, Rochas, S.T.

Further Reading: How prevalent are 12b-1 fees?

Institutional Ownership by Quarter for Inter Parfums (NASDAQ:IPAR)

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