Synovus Financial Corp Has $589,000 Stake in Inter Parfums, Inc. (NASDAQ:IPAR)

Synovus Financial Corp boosted its position in Inter Parfums, Inc. (NASDAQ:IPAR) by 12.3% during the 3rd quarter, according to the company in its most recent Form 13F filing with the Securities & Exchange Commission. The firm owned 4,546 shares of the company’s stock after buying an additional 499 shares during the period. Synovus Financial Corp’s holdings in Inter Parfums were worth $589,000 at the end of the most recent quarter.

Several other hedge funds and other institutional investors have also bought and sold shares of the company. CWM LLC lifted its holdings in Inter Parfums by 44.4% in the second quarter. CWM LLC now owns 286 shares of the company’s stock valued at $33,000 after buying an additional 88 shares during the period. Commonwealth Equity Services LLC lifted its holdings in Inter Parfums by 2.8% in the second quarter. Commonwealth Equity Services LLC now owns 3,363 shares of the company’s stock valued at $390,000 after buying an additional 92 shares during the period. Louisiana State Employees Retirement System lifted its holdings in Inter Parfums by 1.1% in the second quarter. Louisiana State Employees Retirement System now owns 9,000 shares of the company’s stock valued at $1,044,000 after buying an additional 100 shares during the period. Arizona State Retirement System lifted its holdings in Inter Parfums by 2.0% in the second quarter. Arizona State Retirement System now owns 5,378 shares of the company’s stock valued at $624,000 after buying an additional 105 shares during the period. Finally, Inspire Investing LLC raised its holdings in shares of Inter Parfums by 3.9% during the third quarter. Inspire Investing LLC now owns 3,208 shares of the company’s stock valued at $415,000 after purchasing an additional 120 shares during the period. Institutional investors and hedge funds own 55.57% of the company’s stock.

Analyst Ratings Changes

Several brokerages have recently weighed in on IPAR. BWS Financial reiterated a “buy” rating and set a $172.00 price objective on shares of Inter Parfums in a report on Monday, November 11th. Piper Sandler upped their price objective on shares of Inter Parfums from $155.00 to $164.00 and gave the company an “overweight” rating in a report on Wednesday, December 4th. Finally, DA Davidson reiterated a “buy” rating and set a $163.00 price objective on shares of Inter Parfums in a report on Tuesday, December 3rd. One investment analyst has rated the stock with a hold rating and four have assigned a buy rating to the stock. Based on data from MarketBeat, Inter Parfums has a consensus rating of “Moderate Buy” and a consensus price target of $159.75.

Insiders Place Their Bets

In other news, COO Pelayo Frederic Garcia sold 4,000 shares of the stock in a transaction on Friday, November 22nd. The shares were sold at an average price of $133.04, for a total value of $532,160.00. The sale was disclosed in a document filed with the SEC, which is available at this hyperlink. Corporate insiders own 43.90% of the company’s stock.

Inter Parfums Trading Down 2.0 %

NASDAQ:IPAR opened at $133.41 on Wednesday. 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 firm has a 50-day moving average of $128.54 and a 200-day moving average of $124.88. The company has a market cap of $4.27 billion, a PE ratio of 28.78 and a beta of 1.20. Inter Parfums, Inc. has a one year low of $108.39 and a one year high of $156.75.

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

Inter Parfums Profile

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.