Coty Inc (NYSE:COTY) Short Interest Update

Coty Inc (NYSE:COTY) was the recipient of a large increase in short interest in August. As of August 31st, there was short interest totalling 21,570,000 shares, an increase of 19.2% from the August 15th total of 18,100,000 shares. Based on an average daily trading volume, of 12,100,000 shares, the days-to-cover ratio is currently 1.8 days. Approximately 7.5% of the shares of the company are sold short.

A number of brokerages have commented on COTY. Stifel Nicolaus decreased their price objective on Coty from $7.00 to $6.00 and set a “hold” rating on the stock in a report on Tuesday, June 2nd. ValuEngine raised Coty from a “hold” rating to a “buy” rating in a report on Friday, August 28th. Royal Bank of Canada reiterated a “buy” rating and set a $8.00 target price on shares of Coty in a research report on Tuesday, August 25th. DA Davidson cut their target price on Coty from $5.00 to $3.50 in a research report on Monday, August 31st. Finally, Morgan Stanley cut their target price on Coty from $6.00 to $5.50 and set an “equal weight” rating for the company in a research report on Monday, July 13th. Twelve analysts have rated the stock with a hold rating and two have given a buy rating to the company’s stock. The stock presently has a consensus rating of “Hold” and a consensus target price of $7.79.

In other news, Director Olivier Goudet acquired 50,000 shares of the firm’s stock in a transaction on Tuesday, September 1st. The shares were purchased at an average cost of $3.60 per share, with a total value of $180,000.00. Following the acquisition, the director now directly owns 179,129 shares in the company, valued at approximately $644,864.40. The purchase was disclosed in a document filed with the SEC, which is accessible through the SEC website. Corporate insiders own 1.92% of the company’s stock.

Hedge funds have recently modified their holdings of the company. Fifth Third Bancorp grew its stake in Coty by 53.3% during the second quarter. Fifth Third Bancorp now owns 7,436 shares of the company’s stock worth $33,000 after purchasing an additional 2,584 shares during the period. Patriot Financial Group Insurance Agency LLC acquired a new stake in Coty during the second quarter worth approximately $41,000. Macquarie Group Ltd. acquired a new stake in Coty during the second quarter worth approximately $44,000. Teacher Retirement System of Texas acquired a new stake in Coty during the second quarter worth approximately $45,000. Finally, TCG Advisors LP acquired a new stake in Coty during the second quarter worth approximately $45,000. 27.93% of the stock is owned by institutional investors.

COTY traded up $0.07 on Wednesday, reaching $3.25. The stock had a trading volume of 14,748,891 shares, compared to its average volume of 12,055,978. Coty has a fifty-two week low of $3.02 and a fifty-two week high of $13.42. The firm has a 50-day moving average of $3.82 and a 200-day moving average of $4.86. The company has a current ratio of 1.81, a quick ratio of 1.62 and a debt-to-equity ratio of 2.44. The company has a market capitalization of $2.49 billion, a price-to-earnings ratio of -2.44, a price-to-earnings-growth ratio of 6.27 and a beta of 1.08.

Coty (NYSE:COTY) last issued its earnings results on Thursday, August 27th. The company reported ($0.51) earnings per share (EPS) for the quarter, missing analysts’ consensus estimates of ($0.12) by ($0.39). The firm had revenue of $560.40 million during the quarter, compared to analyst estimates of $1.37 billion. Coty had a negative return on equity of 3.96% and a negative net margin of 15.89%. Coty’s revenue for the quarter was down 62.8% on a year-over-year basis. During the same period in the previous year, the company earned $0.16 EPS. Sell-side analysts anticipate that Coty will post 0.07 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 in three segments: Luxury, Consumer Beauty, and Professional Beauty. The Luxury segment offers prestige fragrances, and skincare and cosmetics products through various retailers, including perfumeries, department stores, and duty-free shops under the Alexander McQueen, Balenciaga, Burberry, Bottega Veneta, Calvin Klein, Cavalli, Chloe, Davidoff, Escada, Gucci, Hugo Boss, Jil Sander, Joop!, Lacoste, Lancaster, Marc Jacobs, Miu Miu, philosophy, Stella McCartney, and Tiffany & Co brands.

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