Insider Buying: Coty (NYSE:COTY) Insider Purchases 29,400 Shares of Stock

Key Points

• Coty insider Kristin Blazewicz purchased 29,400 shares of Coty stock for a total of $126,420, increasing their ownership by 3.68% to 829,142 shares.
• The company's recent earnings results showed a loss of ($0.05) earnings per share, missing analyst expectations, while revenues decreased by 8.1% year-over-year.
• Several hedge funds have increased their positions in Coty, indicating potential institutional interest, with 42.36% of its stock now being owned by institutional investors.

Coty (NYSE:COTY - Get Free Report) insider Kristin Blazewicz acquired 29,400 shares of Coty stock in a transaction on Wednesday, September 3rd. The stock was purchased at an average price of $4.30 per share, with a total value of $126,420.00. Following the transaction, the insider directly owned 829,142 shares in the company, valued at approximately $3,565,310.60. This trade represents a 3.68% increase in their position. The purchase was disclosed in a document filed with the Securities & Exchange Commission, which can be accessed through the SEC website.

Coty Price Performance

COTY traded down $0.02 during trading on Wednesday, hitting $4.33. The company's stock had a trading volume of 8,137,240 shares, compared to its average volume of 12,158,940. The firm's 50 day moving average price is $4.76 and its two-hundred day moving average price is $5.03. 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 12 month low of $3.67 and a 12 month high of $9.70. The stock has a market capitalization of $3.77 billion, a price-to-earnings ratio of -9.83, a price-to-earnings-growth ratio of 0.39 and a beta of 2.07.

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

Institutional Inflows and Outflows

Several hedge funds have recently made changes to their positions in COTY. GAMMA Investing LLC increased its position in 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 buying an additional 3,214 shares in the last quarter. UMB Bank n.a. increased its holdings in Coty by 137.1% during the 2nd quarter. UMB Bank n.a. now owns 6,851 shares of the company's stock worth $32,000 after purchasing an additional 3,962 shares in the last quarter. Caitong International Asset Management Co. Ltd boosted its stake in shares of Coty by 1,006.7% in the 1st quarter. Caitong International Asset Management Co. Ltd now owns 7,304 shares of the company's stock worth $40,000 after buying an additional 6,644 shares during the last quarter. Shay Capital LLC purchased a new position in shares of Coty in the 2nd quarter worth approximately $46,000. Finally, FORA Capital LLC purchased a new position in Coty in the second quarter valued at approximately $47,000. 42.36% of the stock is owned by institutional investors.

Wall Street Analysts Forecast Growth

Several brokerages recently commented on COTY. Citigroup reissued a "neutral" rating and set a $4.25 price target (down from $6.50) on shares of Coty in a research report on Thursday, August 21st. Morgan Stanley cut their price objective on Coty from $5.00 to $4.25 and set an "equal weight" rating for the company in a research report on Monday, August 25th. The Goldman Sachs Group lowered their target price on Coty from $6.00 to $4.50 and set a "neutral" rating on the stock in a research note on Friday, August 22nd. Evercore ISI lowered their target price on Coty from $10.00 to $7.00 and set an "outperform" rating on the stock in a research note on Thursday, August 21st. Finally, Deutsche Bank Aktiengesellschaft lowered their price objective on Coty from $6.00 to $4.00 and set a "hold" rating on the stock in a research note on Thursday, August 21st. Four 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, Coty has an average rating of "Hold" and a consensus 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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