Coty $COTY Shares Bought by Assenagon Asset Management S.A.

Key Points

• Assenagon Asset Management increased its Coty stake by 11.1% in the second quarter, acquiring 684,052 additional shares for a total of 6.87 million shares, or 0.78% of the company.
• Institutional investors own 42.36% of Coty, while the stock recently traded at $2.87, below its 12-month high of $5.08 but above its 50-day and 200-day moving averages.
• Analyst sentiment remains cautious: Coty has an average “Reduce” rating and a consensus price target of $3.70, with one Buy, thirteen Hold, and three Sell ratings.

Assenagon Asset Management S.A. lifted its stake in shares of Coty (NYSE:COTY - Free Report) by 11.1% during the second quarter, according to the company in its most recent disclosure with the Securities & Exchange Commission. The fund owned 6,871,724 shares of the company's stock after acquiring an additional 684,052 shares during the period. Assenagon Asset Management S.A. owned 0.78% of Coty worth $14,843,000 as of its most recent SEC filing.

A number of other hedge funds and other institutional investors have also recently added to or reduced their stakes in the stock. Ground Swell Capital LLC acquired a new position in shares of Coty in the first quarter valued at approximately $27,000. Robeco Institutional Asset Management B.V. acquired a new position in Coty in the 4th quarter valued at $32,000. Cornerstone Wealth Management LLC purchased a new position in shares of Coty during the 4th quarter worth $37,000. North Dakota State Investment Board purchased a new position in shares of Coty during the 4th quarter worth $37,000. Finally, Avantax Planning Partners Inc. acquired a new stake in shares of Coty during the first quarter worth $37,000. Hedge funds and other institutional investors own 42.36% of the company's stock.

Coty Stock Performance

Coty stock opened at $2.87 on Tuesday. The stock's 50-day moving average is $2.31 and its 200-day moving average is $2.38. The company has a market cap of $2.53 billion, a price-to-earnings ratio of -4.63, a price-to-earnings-growth ratio of 0.81 and a beta of 0.97. The company has a debt-to-equity ratio of 0.97, a current ratio of 0.82 and a quick ratio of 0.49. Coty has a 12 month low of $1.82 and a 12 month high of $5.08.

Analyst Upgrades and Downgrades

A number of equities research analysts have recently commented on the company. Barclays lowered their price objective on Coty from $2.50 to $2.00 and set an "underweight" rating for the company in a research report on Tuesday, April 14th. Weiss Ratings lowered Coty from a "sell (d-)" rating to a "sell (e+)" rating in a research note on Wednesday, May 13th. Morgan Stanley set a $2.50 price target on Coty in a report on Thursday, May 7th. TD Cowen lifted their price target on Coty from $2.30 to $2.90 and gave the company a "hold" rating in a report on Thursday, May 7th. Finally, Royal Bank Of Canada reaffirmed an "outperform" rating and set a $8.00 price objective on shares of Coty in a research note on Monday, May 4th. One analyst has rated the stock with a Buy rating, thirteen have given a Hold rating and three have assigned a Sell rating to the stock. According to MarketBeat, the stock currently has an average rating of "Reduce" and a consensus target price of $3.70.

Coty Company Profile

Coty Inc is a multinational beauty company specializing in the development, manufacturing and marketing of fragrances, color cosmetics and skin and body care products. Established in 1904 by François Coty in Paris, the company has grown through a blend of organic innovation and strategic acquisitions to become one of the leading players in the global beauty industry. Coty's portfolio encompasses a broad range of consumer and luxury brands, reflecting its commitment to catering to diverse consumer preferences and market segments.

The company's product offerings span three main divisions: Coty Luxury, Coty Consumer Beauty and Coty Professional Beauty.

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