Insider Buying: Eastman Kodak Company (NYSE:KODK) CEO Buys 50,000 Shares of Stock

Key Points

• Eastman Kodak's CEO, James V. Continenza, purchased 50,000 shares of the company's stock at an average price of $5.74 per share, totaling approximately $287,000.
• The company's stock is currently valued at around $5.84 per share, showing a recent increase in trading activity with over 2.7 million shares exchanged.
• Recently, Wall Street analysts downgraded Eastman Kodak's rating from "hold" to "sell", reflecting concerns about the company's financial performance.

Eastman Kodak Company (NYSE:KODK - Get Free Report) CEO James V. Continenza acquired 50,000 shares of the stock in a transaction that occurred on Thursday, August 14th. The shares were bought at an average cost of $5.74 per share, for a total transaction of $287,000.00. Following the completion of the transaction, the chief executive officer directly owned 1,902,011 shares of the company's stock, valued at $10,917,543.14. This represents a 2.70% increase in their position. The purchase was disclosed in a document filed with the SEC, which is available through this hyperlink.

Eastman Kodak Stock Performance

Shares of NYSE KODK traded up $0.08 during trading hours on Tuesday, hitting $5.92. 383,724 shares of the stock were exchanged, compared to its average volume of 1,352,086. The company has a debt-to-equity ratio of 0.02, a current ratio of 0.79 and a quick ratio of 0.46. The company's 50 day moving average is $6.31 and its 200 day moving average is $6.42. The firm has a market capitalization of $479.52 million, a P/E ratio of -59.45 and a beta of 0.90. Eastman Kodak Company has a one year low of $4.26 and a one year high of $8.24.

Eastman Kodak (NYSE:KODK - Get Free Report) last posted its quarterly earnings data on Monday, August 11th. The technology company reported ($0.30) earnings per share (EPS) for the quarter. The firm had revenue of $263.00 million for the quarter. Eastman Kodak had a return on equity of 2.32% and a net margin of 1.06%.

Hedge Funds Weigh In On Eastman Kodak

A number of hedge funds have recently made changes to their positions in the business. Marshall Wace LLP increased its position in shares of Eastman Kodak by 50.6% during the 2nd quarter. Marshall Wace LLP now owns 2,711,241 shares of the technology company's stock worth $15,319,000 after purchasing an additional 910,644 shares in the last quarter. Russell Investments Group Ltd. lifted its position in shares of Eastman Kodak by 34,542.8% during the first quarter. Russell Investments Group Ltd. now owns 272,639 shares of the technology company's stock worth $1,723,000 after purchasing an additional 271,852 shares in the last quarter. Prescott Group Capital Management L.L.C. acquired a new position in shares of Eastman Kodak during the second quarter worth approximately $1,526,000. Tenzing Global Management LLC acquired a new position in shares of Eastman Kodak during the first quarter worth approximately $1,580,000. Finally, Susquehanna Fundamental Investments LLC acquired a new position in shares of Eastman Kodak during the fourth quarter worth approximately $1,316,000. Institutional investors and hedge funds own 33.65% of the company's stock.

Analysts Set New Price Targets

Separately, Wall Street Zen lowered shares of Eastman Kodak from a "hold" rating to a "sell" rating in a research note on Monday, May 12th.

About Eastman Kodak

Eastman Kodak Company engages in the provision of hardware, software, consumables, and services to customers in the commercial print, packaging, publishing, manufacturing, and entertainment markets worldwide. The company operates through three segments: Print, Advanced Materials and Chemicals, and Brand.