Cubist Systematic Strategies LLC Acquires 1,263,306 Shares of Coty $COTY

Cubist Systematic Strategies LLC grew its holdings in shares of Coty (NYSE:COTY) by 179.5% in the 1st quarter, according to its most recent disclosure with the SEC. The fund owned 1,966,912 shares of the company’s stock after acquiring an additional 1,263,306 shares during the period. Cubist Systematic Strategies LLC’s holdings in Coty were worth $10,759,000 as of its most recent SEC filing.

Other large investors have also recently modified their holdings of the company. GAMMA Investing LLC raised its stake in shares of Coty by 140.2% during the first quarter. GAMMA Investing LLC now owns 5,506 shares of the company’s stock valued at $30,000 after acquiring an additional 3,214 shares during the last quarter. Caitong International Asset Management Co. Ltd raised its stake in Coty by 1,006.7% during the first 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. Callan Capital LLC bought a new position in Coty during the first quarter worth $56,000. Impact Capital Partners LLC bought a new position in Coty during the first quarter worth $61,000. Finally, Wealth Enhancement Advisory Services LLC bought a new position in Coty during the fourth quarter worth $84,000. Institutional investors own 42.36% of the company’s stock.

Wall Street Analyst Weigh In

A number of brokerages recently weighed in on COTY. Canaccord Genuity Group lowered their target price on shares of Coty from $5.00 to $4.00 and set a “hold” rating for the company in a research note on Friday, August 22nd. Morgan Stanley lowered their target price on shares of Coty from $5.00 to $4.25 and set an “equal weight” rating for the company in a research note on Monday, August 25th. Wells Fargo & Company lowered their target price on shares of Coty from $5.00 to $4.00 and set an “equal weight” rating for the company in a research note on Friday, August 22nd. Evercore ISI lowered their target price on shares of Coty from $10.00 to $7.00 and set an “outperform” rating for the company in a research note on Thursday, August 21st. Finally, JPMorgan Chase & Co. lowered their target price on shares of Coty from $6.00 to $5.00 and set a “neutral” rating for the company in a research note on Thursday, May 8th. Four investment analysts have rated the stock with a Buy rating, fourteen have assigned a Hold rating and two have given a Sell rating to the company. According to data from MarketBeat.com, the company presently has a consensus rating of “Hold” and a consensus target price of $6.19.

Insider Buying and Selling at Coty

In other Coty news, CEO Sue Nabi acquired 260,000 shares of Coty stock in a transaction dated Friday, August 22nd. The stock was purchased at an average cost of $3.92 per share, for a total transaction of $1,019,200.00. Following the completion of the acquisition, the chief executive officer directly owned 32,127,286 shares of the company’s stock, valued at $125,938,961.12. This represents a 0.82% increase in their ownership of the stock. The transaction was disclosed in a legal filing with the SEC, which can be accessed through this link. Also, CFO Laurent Mercier acquired 12,500 shares of Coty stock in a transaction dated Monday, August 25th. The shares were acquired at an average price of $3.96 per share, with a total value of $49,500.00. Following the completion of the acquisition, the chief financial officer directly owned 402,216 shares of the company’s stock, valued at approximately $1,592,775.36. The trade was a 3.21% increase in their ownership of the stock. The disclosure for this purchase can be found here. Over the last ninety days, insiders purchased 305,500 shares of company stock valued at $1,195,420. Corporate insiders own 6.00% of the company’s stock.

Coty Trading Down 1.3%

COTY opened at $4.28 on Tuesday. Coty has a 1-year low of $3.67 and a 1-year high of $9.70. The company has a current ratio of 0.77, a quick ratio of 0.46 and a debt-to-equity ratio of 1.06. The company has a market cap of $3.73 billion, a P/E ratio of -9.72, a price-to-earnings-growth ratio of 0.39 and a beta of 2.07. The company has a fifty day moving average price of $4.77 and a two-hundred day moving average price of $5.04.

Coty (NYSE:COTY) last posted its quarterly earnings results 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). Coty had a negative net margin of 6.24% and a positive return on equity of 5.18%. The company had revenue of $1.25 billion during the quarter, compared to the consensus estimate of $1.20 billion. During the same period last year, the firm posted ($0.03) earnings per share. The company’s revenue for the quarter was down 8.1% on a year-over-year basis. Analysts predict that Coty will post 0.39 EPS for the current fiscal year.

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.