Is Coty Inc (COTY) a Good Stock To Buy?

Let’s also examine hedge fund activity in other stocks – not necessarily in the same industry as Coty Inc (NYSE:COTY) but similarly valued. We will take a look at Arch Capital Group Ltd. (NASDAQ:ACGL), Newfield Exploration Co. (NYSE:NFX), Dr. Reddy’s Laboratories Limited (ADR) (NYSE:RDY), and Michael Kors Holdings Ltd (NYSE:KORS). This group of stocks’ market caps are closest to COTY’s market cap.

As you can see these stocks had an average of 26 funds with bullish positions at the end of September and the average amount invested in these stocks was $639 million, which is significantly lower than the $3.03 billion in COTY’s case. Newfield Exploration Co. (NYSE:NFX) is the most popular stock in this table. On the other hand Dr. Reddy’s Laboratories Limited (ADR) (NYSE:RDY) is the least popular one with only nine investors holding shares. Compared to these stocks Coty Inc (NYSE:COTY) is more popular among hedge funds. Considering that hedge funds are fond of this stock in relation to its market cap peers, it may be a good idea to analyze it in detail and potentially include it in your portfolio.