Cubist Systematic Strategies LLC Boosts Holdings in Coty $COTY

Key Points

• Cubist Systematic Strategies LLC increased its holdings in Coty by 179.5%, acquiring 1,263,306 additional shares, which raises their total ownership to approximately 1,966,912 shares valued at about $10.76 million.
• Recent analyst reports have resulted in a decrease in target prices for Coty shares, with several firms lowering their ratings, indicating a consensus "Hold" rating and a target price of $6.19.
• Coty's CEO, Sue Nabi, made a personal investment by purchasing 260,000 shares at $3.92 each, reflecting insider confidence despite recent underperformance as the company reported a $0.05 EPS loss.

Cubist Systematic Strategies LLC increased its holdings in Coty (NYSE:COTY - Free Report) by 179.5% in the first quarter, according to its most recent disclosure with the Securities & Exchange Commission. The institutional investor owned 1,966,912 shares of the company's stock after buying an additional 1,263,306 shares during the period. Cubist Systematic Strategies LLC owned about 0.23% of Coty worth $10,759,000 as of its most recent filing with the Securities & Exchange Commission.

A number of other large investors also recently bought and sold shares of COTY. Stifel Financial Corp raised its stake in Coty by 29.1% in the fourth quarter. Stifel Financial Corp now owns 116,443 shares of the company's stock worth $810,000 after buying an additional 26,218 shares in the last quarter. Price T Rowe Associates Inc. MD raised its stake in Coty by 9.1% in the fourth quarter. Price T Rowe Associates Inc. MD now owns 224,376 shares of the company's stock worth $1,562,000 after buying an additional 18,705 shares in the last quarter. Voya Investment Management LLC raised its stake in Coty by 250.2% in the fourth quarter. Voya Investment Management LLC now owns 185,645 shares of the company's stock worth $1,292,000 after buying an additional 132,637 shares in the last quarter. Aquatic Capital Management LLC bought a new position in Coty in the fourth quarter worth approximately $202,000. Finally, Tudor Investment Corp ET AL bought a new position in Coty in the fourth quarter worth approximately $161,000. Institutional investors own 42.36% of the company's stock.

Insider Buying and Selling at Coty

In other Coty news, CFO Laurent Mercier purchased 12,500 shares of the stock in a transaction on Monday, August 25th. The shares were bought at an average cost of $3.96 per share, with a total value of $49,500.00. Following the completion of the acquisition, 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 ownership of the stock. The purchase was disclosed in a filing with the SEC, which is accessible through the SEC website. Also, insider Priya Srinivasan purchased 30,000 shares of the stock in a transaction on Friday, August 22nd. The stock was acquired at an average cost of $3.84 per share, for a total transaction of $115,200.00. Following the completion of the acquisition, the insider owned 37,509 shares of the company's stock, valued at $144,034.56. The trade was a 399.52% increase in their position. The disclosure for this purchase can be found here. In the last three months, insiders bought 334,900 shares of company stock worth $1,321,840. 6.00% of the stock is currently owned by company insiders.

Coty Stock Performance

COTY stock traded down $0.03 during midday trading on Friday, reaching $4.36. The stock had a trading volume of 10,476,290 shares, compared to its average volume of 12,923,153. The stock has a market cap of $3.80 billion, a PE ratio of -9.90, a P/E/G ratio of 0.40 and a beta of 2.07. The company has a debt-to-equity ratio of 1.06, a quick ratio of 0.46 and a current ratio of 0.77. The firm has a fifty day simple moving average of $4.75 and a two-hundred day simple moving average of $5.01. Coty has a 52-week low of $3.67 and a 52-week high of $9.70.

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

Analyst Ratings Changes

Several equities analysts have issued reports on the stock. Evercore ISI cut their price target on shares of Coty from $10.00 to $7.00 and set an "outperform" rating on the stock in a report on Thursday, August 21st. Morgan Stanley cut their price target on shares of Coty from $5.00 to $4.25 and set an "equal weight" rating on the stock in a report on Monday, August 25th. Royal Bank Of Canada cut their price target on shares of Coty from $12.00 to $10.00 and set a "sector perform" rating on the stock in a report on Friday, August 22nd. Barclays cut their price target on shares of Coty from $4.50 to $3.50 and set an "underweight" rating on the stock in a report on Friday, August 22nd. Finally, Canaccord Genuity Group cut their price target on shares of Coty from $5.00 to $4.00 and set a "hold" rating on the stock in a report on Friday, August 22nd. Four equities research analysts have rated the stock with a Buy rating, fourteen have assigned a Hold rating and two have issued a Sell rating to the stock. According to MarketBeat.com, the company has an average rating of "Hold" and an average price target of $6.19.

About Coty

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.