Anna von Bayern, the Chief Corporate Affairs Officer at Coty (COTY), recently started a stake with a 32,100 share buy. The total price came to just over $232,000.
This is the first buy from a company executive in months, but company directors have been active buyers over the past few months. In total, a handful of directors have picked up over 1.1 million shares of the cosmetics company. Overall, insiders own over 62 percent of shares.
Shares of the firm have rebounded from a low near $3 per share in the fall to over $6 today. While impressive, shares have traded as high as $18 back in 2018, and over $10 per share at the start of 2020.
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While the company is currently unprofitable, earnings surged over 300 percent in the most recent quarter as work-from-home trends flattened out and unemployment numbers started to come down.
Action to take: With heavy insider ownership, heavy insider buying, and an industry in the midst of recovering, shares look attractive here. The company has paid a dividend in the past, but has no guidance on that at the moment. That makes an options play attractive.
The May 2021 $7 calls will allow the current uptrend to continue to play out. With shares just under $7, this is the at-the-money trade likely to move in-the-money. Trading at about $1.45, it’s an inexpensive way to play the current uptrend in shares higher over the next few months.