Eastman Kodak (NYSE:KODK) Shares Up 7.8% - Here's Why

Key Points

• Eastman Kodak's stock price increased by 7.8% on Friday, reaching as high as $6.80 before closing at $6.66, despite trading volume falling 28% below its average.
• The company's recent quarterly earnings showed a loss of ($0.30) earnings per share with a revenue of $263 million and a return on equity of 2.32%.
• Significant insider activity included purchases by Director Philippe D. Katz and CEO James V. Continenza, increasing their stock ownership as both executives bought shares at prices below the recent trading value.

Shares of Eastman Kodak Company (NYSE:KODK - Get Free Report) shot up 7.8% on Friday . The company traded as high as $6.80 and last traded at $6.66. 941,439 shares changed hands during mid-day trading, a decline of 28% from the average session volume of 1,308,875 shares. The stock had previously closed at $6.18.

Eastman Kodak Stock Performance

The company has a debt-to-equity ratio of 0.02, a quick ratio of 0.46 and a current ratio of 0.79. The stock's fifty day moving average is $6.24 and its two-hundred day moving average is $6.18. The firm has a market cap of $524.48 million, a price-to-earnings ratio of -64.79 and a beta of 1.26.

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

Insider Activity

In related news, Director Philippe D. Katz bought 10,000 shares of the stock in a transaction on Thursday, August 14th. The shares were purchased at an average price of $5.67 per share, with a total value of $56,700.00. Following the purchase, the director owned 180,026 shares in the company, valued at approximately $1,020,747.42. This represents a 5.88% increase in their ownership of the stock. The purchase was disclosed in a document filed with the SEC, which is available through this hyperlink. Also, CEO James V. Continenza bought 50,000 shares of the stock in a transaction 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 purchase, the chief executive officer owned 1,902,011 shares in the company, valued at $10,917,543.14. This trade represents a 2.70% increase in their position. The disclosure for this purchase can be found here. 23.87% of the stock is currently owned by company insiders.

Hedge Funds Weigh In On Eastman Kodak

Several large investors have recently bought and sold shares of KODK. Deutsche Bank AG grew its stake in shares of Eastman Kodak by 76.1% in the 4th quarter. Deutsche Bank AG now owns 57,904 shares of the technology company's stock worth $380,000 after purchasing an additional 25,018 shares during the last quarter. Millennium Management LLC grew its stake in shares of Eastman Kodak by 86.2% in the 4th quarter. Millennium Management LLC now owns 93,983 shares of the technology company's stock worth $617,000 after purchasing an additional 43,504 shares during the last quarter. ProShare Advisors LLC grew its stake in shares of Eastman Kodak by 49.0% in the 4th quarter. ProShare Advisors LLC now owns 17,035 shares of the technology company's stock worth $112,000 after purchasing an additional 5,605 shares during the last quarter. Two Sigma Investments LP grew its stake in shares of Eastman Kodak by 2.1% in the 4th quarter. Two Sigma Investments LP now owns 74,210 shares of the technology company's stock worth $488,000 after purchasing an additional 1,509 shares during the last quarter. Finally, Squarepoint Ops LLC acquired a new position in shares of Eastman Kodak in the 4th quarter worth approximately $465,000. Institutional investors and hedge funds own 33.65% of the company's stock.

Eastman Kodak Company Profile

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.

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