Investing in Coty Inc. (COTY) Is Getting More Attractive


Coty Inc.’s filing revealed that its Director Goudet Olivier acquired Company’s shares for reported $0.76 million on Nov 15. In the deal valued at $7.61 per share,100,000 shares were bought. As a result of this transaction, Goudet Olivier now holds 1,039,129 shares worth roughly $ 11.59 million.

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Then, Goudet Olivier bought 100,000 shares, generating $755,970 in total proceeds. Upon buying the shares at $7.56, the Director now owns 939,129 shares.

Before that, Goudet Olivier bought 100,000 shares. Coty Inc. shares valued at $734,760 were divested by the Director at a price of $7.35 per share. As a result of the transaction, Goudet Olivier now holds 839,129 shares, worth roughly $9.36 million.

Citigroup initiated its Coty Inc. [COTY] rating to a Neutral in a research note published on Friday, February 17, 2023; the price target was $15. PT values the company’s stock at a premium of 25.67 to its Friday closing price. A number of analysts have revised their coverage, including Piper Sandler’s analysts, who increased its forecast for the stock in early January from “a Neutral” to “an Overweight”. Piper Sandler also remained covering COTY and reiterated its “Neutral” recommendation on September 22, 2022.

Price Performance Review of COTY

On Friday, Coty Inc. [NYSE:COTY] saw its stock fall -2.02% to $11.15. On the same session, the stock had its day’s lowest price of $11.035, but rose to a high of $11.19. Over the last five days, the stock has lost -0.71%. Coty Inc. shares have risen nearly 30.26% since the year began. Nevertheless, the stocks have risen 28.46% over the past one year. While a 52-week high of $11.65 was reached on 02/14/23, a 52-week low of $5.90 was recorded on 01/03/23. SMA at 50 days reached $9.60, while 200 days put it at $7.85. A total of 4.3 million shares were traded, compared to the trading of 5.09 million shares in the previous session.

Levels Of Support And Resistance For COTY Stock

The 24-hour chart illustrates a support level at 11.06, which if violated will result in even more drops to 10.97. On the upside, there is a resistance level at 11.21. A further resistance level may holdings at 11.28. The Relative Strength Index (RSI) on the 14-day chart is 66.60, which indicates neutral technical sentiment, while the Moving Average Convergence Divergence (MACD) stands at 0.36, which suggests price will go down in the next trading period. Percent R suggests that price movement has been bullish at 28.15%. Stochastics %K at 76.68% indicates the stock is a holding.

How much short interest is there in Coty Inc.?

A steep rise in short interest was recorded in Coty Inc. stocks on Jan 30, 2023, growing by 1.53 million shares to a total of 18.66 million shares. Yahoo Finance data shows the prior-month short interest on Dec 29, 2022 was 17.13 million shares. There was a rise of 8.2%, which implies that there is a positive sentiment for the stock. In spite of short shares comprising just 5.18% of the overall stock float, the days-to-cover ratio (short ratio) rose to 3.34.

Coty Inc. [COTY] – Who Are The Largest Shareholders?

In filings from The Vanguard Group, Inc., it is revealed that the company now owns 35,893,719 shares, or roughly 4.22% of the outstanding COTY shares. In other words, the investor’s shares have fallen by -1,975,162 from its previous 13-F filing of 37868881.0. Additionally, BlackRock Fund Advisors increased 10.36% of its stake after which the total value it holdings stand at $285,843,365, while Crédit Agricole Corporate & Inves added 28.24% of its stake to hold $174.38 million in the firm. Over the last quarter, ClearBridge Investments LLC sold -64,751 shares of Coty Inc., while Santander Asset Management SA SGI sold 9,059,776 shares. At present, Columbia Management Investment Ad is holding 11,122,148 shares valued at $110.78 million. BlackRock Investment Management owned 10,637,730 shares of the company at the time of its most recent 13F filing, worth $105.95 million.

According to FactSet, Coty Inc.’s share price will average $11.88 in the next year, based on opinions of analysts polled by the firm. This is up nearly 5.45 percent from its previous closing price of $11.38. Analysts expect Coty Inc. stock to reach the higher price of $15.00, while the lowest price estimate is $8.25. However, 16 analysts have rated COTY stock as an Overweight in their predictions for 2023. The most recent change occurred on June 30, 2022 when Piper Sandler began covering the stock and recommended ‘”a Neutral”‘ rating along with a $8 price target.


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