COTY - Insider Unloading: Robert Singer Sells $2.02M Worth Of Coty Shares | Benzinga
Robert Singer, Board Member at Coty (NYSE:COTY), executed a substantial insider sell on March 6, according to an SEC filing.
What Happened: A Form 4 filing with the U.S. Securities and Exchange Commission on Wednesday outlined that Singer executed a sale of 159,982 shares of Coty with a total value of $2,017,148.
Coty shares are trading down 0.16% at $12.73 at the time of this writing on Thursday morning.
Unveiling the Story Behind Coty
Coty is a global beauty maker that focuses on fragrance (59% of sales) and color cosmetics (28%), with limited exposure to skincare (5%) and body care (8%). For its fragrance business, Coty licenses luxury and high-end brands including Gucci, Burberry, Hugo Boss, Davidoff, and Calvin Klein, while its consumer cosmetics business focuses on acquired mass brands such as CoverGirl, Max Factor, Rimmel, Sally Hansen, and Bourjois. It also collaborates with social media celebrities Kim Kardashian and Kylie Jenner to launch makeup products bearing their names. By region, Coty generates close to 45% of sales from Europe, 30% from North America, 10% from Asia, and 8% from Latin America, with the rest from travel retail. German investment firm JAB is a controlling shareholder, with a 53% stake.