Traders Purchase Large Volume of Call Options on Coty (NYSE:COTY)

Coty (NYSE:COTY) was the recipient of some unusual options trading activity on Monday. Stock traders acquired 2,375 call options on the stock. This is an increase of 53% compared to the typical volume of 1,548 call options.

Insiders Place Their Bets

In related news, insider Bretten Gordon Von bought 83,000 shares of the company’s stock in a transaction that occurred on Friday, March 6th. The shares were bought at an average price of $2.41 per share, for a total transaction of $200,030.00. Following the completion of the acquisition, the insider owned 986,620 shares of the company’s stock, valued at $2,377,754.20. This trade represents a 9.19% increase in their position. The transaction was disclosed in a document filed with the SEC, which is accessible through this hyperlink. 5.90% of the stock is currently owned by company insiders.

Institutional Trading of Coty

Several large investors have recently added to or reduced their stakes in COTY. Royal Bank of Canada grew its position in Coty by 8.2% during the first quarter. Royal Bank of Canada now owns 128,451 shares of the company’s stock valued at $702,000 after buying an additional 9,700 shares during the period. United Services Automobile Association bought a new position in shares of Coty in the first quarter worth approximately $131,000. UBS AM A Distinct Business Unit of UBS Asset Management Americas LLC boosted its position in shares of Coty by 7.1% in the first quarter. UBS AM A Distinct Business Unit of UBS Asset Management Americas LLC now owns 1,298,221 shares of the company’s stock worth $7,101,000 after purchasing an additional 86,534 shares during the period. Focus Partners Wealth bought a new position in shares of Coty in the first quarter worth approximately $73,000. Finally, Prudential Financial Inc. boosted its position in shares of Coty by 17.1% in the second quarter. Prudential Financial Inc. now owns 39,844 shares of the company’s stock worth $185,000 after purchasing an additional 5,810 shares during the period. 42.36% of the stock is currently owned by institutional investors.

Analyst Ratings Changes

COTY has been the subject of a number of research analyst reports. Evercore downgraded shares of Coty from a “strong-buy” rating to a “hold” rating in a research report on Tuesday, December 23rd. Barclays cut their target price on shares of Coty from $3.00 to $2.50 and set an “underweight” rating for the company in a research report on Monday, February 9th. Morgan Stanley set a $3.50 target price on shares of Coty in a research report on Monday, February 9th. The Goldman Sachs Group reaffirmed a “neutral” rating and issued a $2.50 target price on shares of Coty in a research report on Monday, February 9th. Finally, Canaccord Genuity Group set a $2.50 target price on shares of Coty in a research report on Monday, February 9th. One analyst has rated the stock with a Buy rating, fifteen have given a Hold rating and three have given a Sell rating to the company’s stock. According to data from MarketBeat, the company currently has a consensus rating of “Reduce” and an average price target of $3.94.

Coty Stock Performance

Shares of NYSE COTY opened at $2.27 on Tuesday. The firm has a 50 day moving average of $2.38 and a 200 day moving average of $3.12. The company has a current ratio of 0.79, a quick ratio of 0.52 and a debt-to-equity ratio of 0.81. The firm has a market capitalization of $2.00 billion, a price-to-earnings ratio of -3.66, a price-to-earnings-growth ratio of 0.40 and a beta of 0.98. Coty has a 12-month low of $1.95 and a 12-month high of $5.34.

Coty (NYSE:COTY) last announced its earnings results on Thursday, February 5th. The company reported $0.14 earnings per share (EPS) for the quarter, missing the consensus estimate of $0.18 by ($0.04). The business had revenue of $1.68 billion for the quarter, compared to the consensus estimate of $1.66 billion. Coty had a negative net margin of 9.13% and a positive return on equity of 5.38%. The business’s quarterly revenue was up .5% compared to the same quarter last year. During the same quarter last year, the firm posted $0.11 earnings per share. On average, research analysts anticipate that Coty will post 0.39 earnings per share for the current year.

About Coty

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.