Johannes Huth, a director at Coty Inc. (COTY), recently bought one million shares of the company. The total price came to $6.2 million, and represents the director’s first stake at the cosmetics firm.
Hurth is joined by director Robert Singer, who also picked up 15,000 shares on the same day. His buy came to over $90,000, and represents a 4.7 percent increase in his holdings. This is the second buy from Singer in as many weeks.
Insider activity over the past few years has shown both buys and sells from insiders. Currently, buyers have the upper hand.
- New “Forever Battery” To Usher In New Age Of Energy
The breakthrough battery technology being dubbed as “The Tesla Killer”.
Find out why you need to act now to take advantage of this incredible opportunity.
Tech investing legend Matt McCall reveals a secretly emerging $3 trillion industry HERE.
Even with a giant rally in shares since their March low, declining demand for cosmetics have left shares down 40 percent over the past year. With insiders buying, and with them owning over 62 percent of shares, it’s clear that there’s plenty of room for the stock to run higher.
Action to take: The May $7 calls are $0.50 in-the-money. They should move in line with any increase in the share price from here. Last trading around $2.00, they offer traders great returns on a continued rally in price.
Traders may even be able to see triple-digit wins in shares given the long timeframe to expiration, whether they’re interested in exercising the in-the-money options or not.