Nexpoint Asset Management L.P. Invests $2.17 Million in Coty $COTY

Key Points

• Nexpoint Asset Management L.P. has invested $2.17 million in Coty, acquiring 396,300 shares of the beauty company during the 1st quarter of the year.
• Several institutional investors, including Vanguard Group and Ameriprise Financial, have increased their stakes in Coty, showcasing significant interest from the investment community.
• Coty's quarterly earnings report indicated a loss of ($0.05) per share, missing expectations, while the company's revenue decreased 8.1% year-over-year.

Nexpoint Asset Management L.P. bought a new stake in Coty (NYSE:COTY - Free Report) in the 1st quarter, according to its most recent Form 13F filing with the Securities and Exchange Commission. The fund bought 396,300 shares of the company's stock, valued at approximately $2,168,000.

Several other institutional investors and hedge funds have also made changes to their positions in the company. Vanguard Group Inc. lifted its holdings in shares of Coty by 5.8% in the 1st quarter. Vanguard Group Inc. now owns 37,645,488 shares of the company's stock valued at $205,921,000 after purchasing an additional 2,055,771 shares during the last quarter. Ameriprise Financial Inc. lifted its holdings in shares of Coty by 10.5% in the 1st quarter. Ameriprise Financial Inc. now owns 22,346,995 shares of the company's stock valued at $122,239,000 after purchasing an additional 2,132,613 shares during the last quarter. Millennium Management LLC lifted its holdings in shares of Coty by 58.7% in the 4th quarter. Millennium Management LLC now owns 4,585,632 shares of the company's stock valued at $31,916,000 after purchasing an additional 1,695,358 shares during the last quarter. Assenagon Asset Management S.A. lifted its holdings in shares of Coty by 162.2% in the 1st quarter. Assenagon Asset Management S.A. now owns 4,300,292 shares of the company's stock valued at $23,523,000 after purchasing an additional 2,660,221 shares during the last quarter. Finally, Man Group plc purchased a new stake in shares of Coty in the 4th quarter valued at about $28,473,000. 42.36% of the stock is owned by hedge funds and other institutional investors.

Insider Buying and Selling

In related news, CEO Sue Nabi bought 260,000 shares of the stock in a transaction on Friday, August 22nd. The shares were purchased at an average price of $3.92 per share, for a total transaction of $1,019,200.00. Following the acquisition, the chief executive officer owned 32,127,286 shares in the company, valued at $125,938,961.12. This represents a 0.82% increase in their ownership of the stock. The purchase was disclosed in a legal filing with the SEC, which is available through the SEC website. Also, insider Priya Srinivasan bought 30,000 shares of the stock in a transaction on Friday, August 22nd. The shares were bought at an average price of $3.84 per share, for a total transaction of $115,200.00. Following the acquisition, the insider owned 37,509 shares in the company, valued at $144,034.56. The trade was a 399.52% increase in their position. The disclosure for this purchase can be found here. Insiders have bought a total of 334,900 shares of company stock worth $1,321,840 in the last 90 days. Corporate insiders own 6.00% of the company's stock.

Coty Stock Performance

NYSE COTY opened at $4.38 on Friday. Coty has a 1-year low of $3.67 and a 1-year high of $9.70. The company has a market capitalization of $3.82 billion, a P/E ratio of -9.94, a PEG ratio of 0.40 and a beta of 2.07. The business has a 50 day moving average price of $4.75 and a 200 day moving average price of $5.03. The company has a debt-to-equity ratio of 1.06, a current ratio of 0.77 and a quick ratio of 0.46.

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 firm had revenue of $1.25 billion during the quarter, compared to analysts' expectations 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 for the quarter was down 8.1% on a year-over-year basis. During the same period in the previous year, the business earned ($0.03) earnings per share. Sell-side analysts expect that Coty will post 0.39 EPS for the current fiscal year.

Analysts Set New Price Targets

Several analysts have commented on the company. Cowen reaffirmed a "hold" rating on shares of Coty in a research note on Friday, August 22nd. Canaccord Genuity Group reduced their price objective on Coty from $5.00 to $4.00 and set a "hold" rating for the company in a research note on Friday, August 22nd. Barclays reduced their price objective on Coty from $4.50 to $3.50 and set an "underweight" rating for the company in a research note on Friday, August 22nd. The Goldman Sachs Group reduced their price objective on Coty from $6.00 to $4.50 and set a "neutral" rating for the company in a research note on Friday, August 22nd. Finally, Deutsche Bank Aktiengesellschaft reduced their price objective on Coty from $6.00 to $4.00 and set a "hold" rating for the company in a research note on Thursday, August 21st. Four investment analysts have rated the stock with a Buy rating, fourteen have issued a Hold rating and two have assigned a Sell rating to the stock. According to data from MarketBeat, the company has a consensus rating of "Hold" and an average target price of $6.19.

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.

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