Counterpoint Mutual Funds LLC Takes Position in Coty $COTY

Key Points

• Counterpoint Mutual Funds LLC has acquired a new stake in Coty (NYSE:COTY), purchasing 155,851 shares valued at approximately $725,000 during the second quarter.
• CFO Laurent Mercier and CEO Sue Nabi made significant personal investments in Coty, with Mercier buying 12,500 shares and Nabi purchasing 260,000 shares, indicating strong insider confidence in the company.
• Analysts have downgraded Coty's stock price targets recently, with Bank of America and Morgan Stanley setting lower expectations, contributing to a current consensus rating of "Hold" with an average price target of $6.06.

Counterpoint Mutual Funds LLC purchased a new stake in Coty (NYSE:COTY - Free Report) during the second quarter, according to its most recent 13F filing with the Securities and Exchange Commission. The firm purchased 155,851 shares of the company's stock, valued at approximately $725,000.

A number of other hedge funds also recently made changes to their positions in the stock. Comerica Bank boosted its stake in shares of Coty by 1.6% in the 1st quarter. Comerica Bank now owns 162,693 shares of the company's stock valued at $890,000 after purchasing an additional 2,639 shares in the last quarter. American Alpha Advisors LLC boosted its stake in shares of Coty by 22.4% in the 1st quarter. American Alpha Advisors LLC now owns 15,000 shares of the company's stock valued at $82,000 after purchasing an additional 2,750 shares in the last quarter. Cetera Investment Advisers boosted its stake in shares of Coty by 15.1% in the 4th quarter. Cetera Investment Advisers now owns 24,370 shares of the company's stock valued at $170,000 after purchasing an additional 3,191 shares in the last quarter. GAMMA Investing LLC boosted its stake in shares of Coty by 140.2% in the 1st quarter. GAMMA Investing LLC now owns 5,506 shares of the company's stock valued at $30,000 after purchasing an additional 3,214 shares in the last quarter. Finally, First Manhattan CO. LLC. boosted its stake in shares of Coty by 0.5% in the 1st quarter. First Manhattan CO. LLC. now owns 700,667 shares of the company's stock valued at $3,833,000 after purchasing an additional 3,456 shares in the last quarter. 42.36% of the stock is currently owned by institutional investors and hedge funds.

Insider Activity at Coty

In other Coty news, CFO Laurent Mercier purchased 12,500 shares of Coty stock in a transaction that occurred on Monday, August 25th. The stock was acquired at an average price of $3.96 per share, with a total value of $49,500.00. Following the transaction, the chief financial officer owned 402,216 shares in the company, valued at $1,592,775.36. This trade represents a 3.21% increase in their position. The transaction was disclosed in a filing with the Securities & Exchange Commission, which can be accessed through the SEC website. Also, CEO Sue Nabi purchased 260,000 shares of Coty stock in a transaction that occurred on Friday, August 22nd. The stock was acquired at an average cost of $3.92 per share, with a total value of $1,019,200.00. Following the transaction, the chief executive officer owned 32,127,286 shares in the company, valued at $125,938,961.12. This trade represents a 0.82% increase in their position. The disclosure for this purchase can be found here. Over the last 90 days, insiders have purchased 334,900 shares of company stock worth $1,321,840. 6.00% of the stock is owned by insiders.

Coty Stock Performance

NYSE:COTY opened at $4.04 on Tuesday. The company has a fifty day moving average of $4.57 and a 200-day moving average of $4.89. The firm has a market capitalization of $3.52 billion, a P/E ratio of -9.17, a P/E/G ratio of 0.27 and a beta of 2.07. The company has a quick ratio of 0.46, a current ratio of 0.77 and a debt-to-equity ratio of 1.06. Coty has a twelve month low of $3.67 and a twelve month high of $9.70.

Coty (NYSE:COTY - Get Free Report) last released its quarterly earnings data on Wednesday, August 20th. The company reported ($0.05) earnings per share for the quarter, missing the consensus estimate of $0.01 by ($0.06). The company had revenue of $1.25 billion during the quarter, compared to the consensus estimate of $1.20 billion. Coty had a negative net margin of 6.24% and a positive return on equity of 5.18%. The business's revenue was down 8.1% compared to the same quarter last year. During the same quarter in the prior year, the firm earned ($0.03) EPS. As a group, sell-side analysts anticipate that Coty will post 0.39 EPS for the current year.

Analyst Upgrades and Downgrades

A number of equities research analysts have recently weighed in on the stock. Bank of America reduced their price target on shares of Coty from $4.00 to $3.50 and set an "underperform" rating on the stock in a research note on Friday, August 22nd. Morgan Stanley dropped their price objective on shares of Coty from $5.00 to $4.25 and set an "equal weight" rating for the company in a report on Monday, August 25th. Berenberg Bank reiterated a "hold" rating and issued a $5.05 price objective (down previously from $6.50) on shares of Coty in a report on Wednesday, September 10th. Wells Fargo & Company dropped their price objective on shares of Coty from $5.00 to $4.00 and set an "equal weight" rating for the company in a report on Friday, August 22nd. Finally, Royal Bank Of Canada dropped their price objective on shares of Coty from $12.00 to $10.00 and set a "sector perform" rating for the company in a report on Friday, August 22nd. Three analysts have rated the stock with a Buy rating, fifteen have issued a Hold rating and two have given a Sell rating to the company. Based on data from MarketBeat.com, Coty has a consensus rating of "Hold" and an average price target of $6.06.

Coty Company Profile

Coty Inc, together with its subsidiaries, manufactures, markets, distributes, and sells beauty products worldwide. It operates through Prestige and Consumer Beauty segments. The company provides fragrance, color cosmetics, and skin and body care products. It offers Prestige segment products primarily through prestige retailers, including perfumeries, department stores, e-retailers, direct-to-consumer websites, and duty-free shops under the Burberry, Calvin Klein, Chloe, Davidoff, Escada, Gucci, Hugo Boss, Jil Sander, Joop!, Kylie Jenner, Lancaster, Marc Jacobs, Miu Miu, Orveda, philosophy, SKKN BY KIM, and Tiffany & Co brands.

This instant news alert was generated by narrative science technology and financial data from MarketBeat in order to provide readers with the fastest and most accurate reporting. This story was reviewed by MarketBeat's editorial team prior to publication. Please send any questions or comments about this story to contact@marketbeat.com.