1 Min Read |
Stock jumps 14% in the days following Kylie Jenner pact
- Shareholder Dennis Eck sold 35k shares at average price $287
Ulta Beauty Inc. board member Dennis Keith Eck knows how to keep up with the Kardashians, or should we say the Jenners.
Eck sold 35,000 Ulta shares, or 9.3 percent of his stake in the Bolingbrook, Illinois-based beauty retailer. The sale came as Ulta climbed 14 percent in the wake of CEO Mary Dillon’s disclosure on the Aug. 30 second-quarter conference call of an exclusive partnership with Kylie Cosmetics, the edgy cosmetic brand of Kim Kardashian West’s half sister, Kylie Jenner. Eck is now left holding 340,294 Ulta shares, or 0.57 percent of the company.
In the days following, the stock showed no signs of letting up, rising to a 14-month high of $290.30. Eck cashed in, selling 35,000 shares at an average price of $287 on Sept. 11, according to a filing with the U.S. Securities & Exchange Commission, reaping $10.1 million.
Written by Janet Freund with assistance by Brad Olesen, and Don Ong