- Coty (NYSE:COTY) is up 3.4% in late trading after a hefty insider buy by its new CEO.
- Pierre Laubies bought more than 2.308M shares on Wednesday, according to a Form 4 filing.
- At an average price of $8.6868, that brings the overall purchase to a bit over $20M worth of shares.
- The shareholder makes up Laubies' entire holdings of Coty stock.
- Meanwhile, JAB Cosmetics, a 10% shareholder, bought 5.4M shares over three equal purchases over each of the past three days. That total outlay is about $48M.
- Previously: Coty announces new CEO and Board changes (Nov. 12 2018)