What’s Next for Coty Inc After Today’s Bearish Options Activity?

 What's Next for Coty Inc After Today's Bearish Options Activity?

In today’s session Coty Inc (COTY) recorded an unusually high (2,017) contracts volume of put trades. Someone, most probably a professional was a very active buyer of the October, 2016 put, expecting serious COTY decrease. With 2,017 contracts traded and 42164 open interest for the Oct, 16 contract, it seems this is a quite bearish bet. The option with symbol: COTY161021P00024000 closed last at: $1.35 or 25% down. About 28.39M shares traded hands or 655.05% up from the average. Coty Inc (NYSE:COTY) has declined 16.35% since March 1, 2016 and is downtrending. It has underperformed by 25.59% the S&P500.

Analysts await Coty Inc (NYSE:COTY) to report earnings on November, 3. They expect $0.33 earnings per share, down 44.07% or $0.26 from last year’s $0.59 per share. COTY’s profit will be $249.01M for 18.18 P/E if the $0.33 EPS becomes a reality. After $0.13 actual earnings per share reported by Coty Inc for the previous quarter, Wall Street now forecasts 153.85% EPS growth.

Coty Inc (NYSE:COTY) Ratings Coverage

Out of 8 analysts covering Coty (NYSE:COTY), 2 rate it a “Buy”, 2 “Sell”, while 4 “Hold”. This means 25% are positive. $33 is the highest target while $20 is the lowest. The $28.04 average target is 16.83% above today’s ($24) stock price. Coty has been the topic of 19 analyst reports since July 21, 2015 according to StockzIntelligence Inc. JP Morgan maintained Coty Inc (NYSE:COTY) on Thursday, August 27 with “Hold” rating. The company was downgraded on Tuesday, August 25 by JP Morgan. B. Riley & Co upgraded Coty Inc (NYSE:COTY) on Thursday, September 29 to “Neutral” rating. The stock of Coty Inc (NYSE:COTY) earned “Buy” rating by Deutsche Bank on Friday, November 6. The stock of Coty Inc (NYSE:COTY) earned “Hold” rating by Piper Jaffray on Friday, August 14. The rating was maintained by Deutsche Bank on Monday, August 17 with “Buy”. The stock has “Neutral” rating given by Sterne Agee CRT on Tuesday, July 21. Citigroup maintained the shares of COTY in a report on Thursday, February 4 with “Neutral” rating. The firm has “Buy” rating by Zacks given on Tuesday, August 18. The stock of Coty Inc (NYSE:COTY) earned “Sell” rating by Berenberg on Friday, September 9.

Insitutional Activity: The institutional sentiment decreased to 0.54 in 2016 Q2. Its down 0.27, from 0.81 in 2016Q1. The ratio worsened, as 35 funds sold all Coty Inc shares owned while 61 reduced positions. 18 funds bought stakes while 34 increased positions. They now own 57.07 million shares or 2.17% more from 55.85 million shares in 2016Q1.
Wells Fargo And Mn reported 102,796 shares or 0% of all its holdings. The Tennessee-based Delta Asset Management Ltd Tn has invested 0.02% in Coty Inc (NYSE:COTY). Comml Bank Of Montreal Can has invested 0% of its portfolio in Coty Inc (NYSE:COTY). Greenwich Invest Mgmt has 0.29% invested in the company for 10,410 shares. Sei Invs Company, a Pennsylvania-based fund reported 670 shares. Mycio Wealth Prtnrs Ltd Liability, a Pennsylvania-based fund reported 952 shares. Seven Eight Capital Llc holds 1 shares or 0% of its portfolio. Stifel Corp accumulated 0% or 9,405 shares. Balyasny Asset Management Limited Liability accumulated 1.39M shares or 0.23% of the stock. Goldman Sachs Gp accumulated 659,802 shares or 0.01% of the stock. Daiwa Gru has 0.02% invested in the company for 134,720 shares. Aqr Mngmt Lc reported 534,849 shares or 0.02% of all its holdings. Amer Intl Gp holds 0% of its portfolio in Coty Inc (NYSE:COTY) for 1,291 shares. Victory Capital holds 0% or 16,797 shares in its portfolio. Millennium Management Ltd Liability Com owns 466,086 shares or 0.03% of their US portfolio.

Insider Transactions: Since July 11, 2016, the stock had 8 insider purchases, and 1 insider sale for $73.35 million net activity. JAB Cosmetics B.V. had bought 324,100 shares worth $9.23 million. Froidefond Sebastien sold $107,629 worth of stock or 3,983 shares.

Coty Inc. is a beauty company. The Company operates through four divisions: Fragrances, Color Cosmetics, Skin & Body Care and Brazil Acquisition. The company has a market cap of $18.11 billion. The Company’s fragrance products include a range of men’s and women’s products. It has a 57.07 P/E ratio. The Company’s fragrance brands include Calvin Klein, Marc Jacobs, Davidoff, Chloe, Balenciaga, Beyonce, Bottega Veneta, Miu Miu and Roberto Cavalli.

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