Interparfums, Inc. $IPAR Shares Sold by Granite Investment Partners LLC

Granite Investment Partners LLC decreased its position in Interparfums, Inc. (NASDAQ:IPAR) by 69.3% in the third quarter, according to its most recent Form 13F filing with the SEC. The institutional investor owned 40,013 shares of the company’s stock after selling 90,313 shares during the period. Granite Investment Partners LLC owned about 0.12% of Interparfums worth $3,936,000 at the end of the most recent quarter.

Other hedge funds have also modified their holdings of the company. Westwood Holdings Group Inc. raised its position in Interparfums by 66.8% during the second quarter. Westwood Holdings Group Inc. now owns 775,590 shares of the company’s stock worth $101,843,000 after acquiring an additional 310,712 shares during the period. Charles Schwab Investment Management Inc. increased its stake in shares of Interparfums by 2.2% during the second quarter. Charles Schwab Investment Management Inc. now owns 714,891 shares of the company’s stock worth $93,872,000 after purchasing an additional 15,453 shares in the last quarter. State Street Corp increased its stake in shares of Interparfums by 0.3% during the second quarter. State Street Corp now owns 678,162 shares of the company’s stock worth $89,049,000 after purchasing an additional 2,311 shares in the last quarter. Geode Capital Management LLC raised its position in shares of Interparfums by 0.5% during the 2nd quarter. Geode Capital Management LLC now owns 447,354 shares of the company’s stock worth $58,748,000 after purchasing an additional 2,295 shares during the last quarter. Finally, Bahl & Gaynor Inc. raised its position in shares of Interparfums by 8.5% during the 2nd quarter. Bahl & Gaynor Inc. now owns 406,497 shares of the company’s stock worth $53,377,000 after purchasing an additional 31,850 shares during the last quarter. 55.57% of the stock is owned by hedge funds and other institutional investors.

Interparfums Stock Performance

Shares of IPAR stock opened at $101.70 on Tuesday. The firm’s 50 day moving average price is $92.75 and its 200-day moving average price is $95.81. The company has a debt-to-equity ratio of 0.13, a quick ratio of 1.99 and a current ratio of 3.27. Interparfums, Inc. has a one year low of $77.21 and a one year high of $148.15. The firm has a market cap of $3.26 billion, a P/E ratio of 19.90 and a beta of 1.24.

Wall Street Analysts Forecast Growth

IPAR has been the subject of a number of recent research reports. Berenberg Bank began coverage on shares of Interparfums in a research report on Friday, November 21st. They issued a “buy” rating and a $103.00 target price for the company. Jefferies Financial Group began coverage on shares of Interparfums in a research note on Wednesday, January 14th. They set a “buy” rating and a $112.00 price objective for the company. UBS Group set a $103.00 price objective on shares of Interparfums in a report on Friday, November 21st. BWS Financial reissued a “neutral” rating and issued a $85.00 target price on shares of Interparfums in a research note on Thursday, January 29th. Finally, Zacks Research upgraded Interparfums from a “strong sell” rating to a “hold” rating in a research report on Monday, February 2nd. 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’s stock. Based on data from MarketBeat.com, the company currently has an average rating of “Moderate Buy” and an average price target of $119.14.

About Interparfums

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.