Insider Buying: Lloyd Miller III Purchases 59,371 Shares of Cosi Stock (COSI)
Cosi (NASDAQ:COSI) major shareholder Lloyd Miller III acquired 59,371 shares of the stock on the open market in a transaction dated Tuesday, October 29th. The shares were purchased at an average price of $2.10 per share, with a total value of $124,679.10. Following the completion of the purchase, the insider now directly owns 156,428 shares in the company, valued at approximately $328,499. The transaction was disclosed in a filing with the SEC, which is available at this link. Large shareholders that own 10% or more of a company’s stock are required to disclose their sales and purchases with the SEC.
Separately, analysts at Zacks upgraded shares of Cosi from an “underperform” rating to a “neutral” rating in a research note to investors on Wednesday, October 23rd. They now have a $2.30 price target on the stock. One investment analyst has rated the stock with a sell rating and five have given a hold rating to the company’s stock. The company has a consensus rating of “Hold” and an average price target of $2.43.
Cosi (NASDAQ:COSI) traded up 0.71% on Wednesday, hitting $2.125. The stock had a trading volume of 88,620 shares. Cosi has a 52 week low of $1.90 and a 52 week high of $3.92. The stock has a 50-day moving average of $2.28 and a 200-day moving average of $2.52. The company’s market cap is $38.3 million.
Cosi (NASDAQ:COSI) last announced its earnings results on Thursday, August 15th. The company reported ($0.12) earnings per share for the quarter, missing the analysts’ consensus estimate of ($0.01) by $0.11. Analysts expect that Cosi will post $-0.23 EPS for the current fiscal year.
Cosi, Inc owns, operates and franchises restaurants, which sells hot and cold sandwiches, freshly-tossed salads, breakfast wraps, Cosi Squagels, hot melts, flatbread pizzas, S’mores and other desserts, and a variety of coffees and specialty coffees along with other soft drink beverages, bottled beverages including premium still and sparkling water, teas and beer and wine in some locations.
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