Renaissance Technologies LLC Has $2.64 Million Position in Coty $COTY

Key Points

• Renaissance Technologies increased its Coty stake by 177.6% in the first quarter, acquiring 839,257 additional shares and bringing its holdings to 1.31 million shares valued at approximately $2.64 million.
• Coty shares opened at $2.83, above their 50-day and 200-day moving averages, but the company continues to show weak liquidity and negative earnings, with a current ratio of 0.82 and a price-to-earnings ratio of -4.56.
• Analyst sentiment remains cautious: Coty has a consensus “Reduce” rating, with one Buy, 13 Hold, and three Sell ratings, and an average price target of $3.70.

Renaissance Technologies LLC lifted its holdings in Coty (NYSE:COTY - Free Report) by 177.6% in the 1st quarter, according to its most recent 13F filing with the SEC. The firm owned 1,311,687 shares of the company's stock after purchasing an additional 839,257 shares during the quarter. Renaissance Technologies LLC owned about 0.15% of Coty worth $2,636,000 as of its most recent SEC filing.

A number of other large investors have also bought and sold shares of the business. Corient Private Wealth LLC raised its holdings in Coty by 16.6% during the 2nd quarter. Corient Private Wealth LLC now owns 16,062 shares of the company's stock worth $75,000 after buying an additional 2,286 shares during the period. Public Employees Retirement System of Ohio boosted its holdings in shares of Coty by 3.2% in the third quarter. Public Employees Retirement System of Ohio now owns 117,781 shares of the company's stock valued at $476,000 after buying an additional 3,616 shares during the period. Osaic Holdings Inc. boosted its holdings in shares of Coty by 30.5% in the second quarter. Osaic Holdings Inc. now owns 15,795 shares of the company's stock valued at $73,000 after buying an additional 3,689 shares during the period. Aigen Investment Management LP increased its position in shares of Coty by 6.1% during the fourth quarter. Aigen Investment Management LP now owns 76,048 shares of the company's stock worth $234,000 after acquiring an additional 4,357 shares in the last quarter. Finally, Wells Fargo & Company MN increased its position in shares of Coty by 23.5% during the fourth quarter. Wells Fargo & Company MN now owns 24,525 shares of the company's stock worth $76,000 after acquiring an additional 4,662 shares in the last quarter. 42.36% of the stock is owned by institutional investors.

Coty Price Performance

NYSE COTY opened at $2.83 on Monday. The firm's 50 day moving average is $2.29 and its 200-day moving average is $2.38. The company has a quick ratio of 0.49, a current ratio of 0.82 and a debt-to-equity ratio of 0.97. The company has a market capitalization of $2.49 billion, a PE ratio of -4.56, a price-to-earnings-growth ratio of 0.81 and a beta of 0.97. Coty has a 12-month low of $1.82 and a 12-month high of $5.08.

Wall Street Analysts Forecast Growth

Several research firms recently commented on COTY. Barclays cut their price objective on shares of Coty from $2.50 to $2.00 and set an "underweight" rating on the stock in a research report on Tuesday, April 14th. Morgan Stanley set a $2.50 target price on Coty in a report on Thursday, May 7th. Royal Bank Of Canada reissued an "outperform" rating and issued a $8.00 price target on shares of Coty in a research note on Monday, May 4th. Weiss Ratings lowered Coty from a "sell (d-)" rating to a "sell (e+)" rating in a report on Wednesday, May 13th. Finally, Citigroup upped their price objective on Coty from $2.50 to $2.80 and gave the stock a "neutral" rating in a research report on Thursday, May 7th. One investment analyst has rated the stock with a Buy rating, thirteen have given a Hold rating and three have issued a Sell rating to the company. According to data from MarketBeat, the company currently has a consensus rating of "Reduce" and an average target price of $3.70.

Coty 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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