Eastman Kodak (NYSE:KODK) Stock Price Up 10.5% Following Insider Buying Activity

Key Points

• Eastman Kodak's share price increased by 10.5% after CEO James V. Continenza purchased 50,000 shares at $5.74 each, boosting his ownership by 2.70%.
• The company's stock had a trading volume decrease, with approximately 710,361 shares traded, significantly below its average daily volume.
• Wall Street Zen downgraded Eastman Kodak from a "hold" to a "sell" rating earlier in May, indicating a negative outlook from analysts.

Eastman Kodak Company (NYSE:KODK - Get Free Report) shares were up 10.5% during trading on Friday following insider buying activity. The company traded as high as $6.29 and last traded at $6.44. Approximately 710,361 shares traded hands during trading, a decline of 47% from the average daily volume of 1,335,976 shares. The stock had previously closed at $5.83.

Specifically, CEO James V. Continenza acquired 50,000 shares of the company's stock in a transaction that occurred on Thursday, August 14th. The shares were bought at an average price of $5.74 per share, with a total value of $287,000.00. Following the completion of the acquisition, the chief executive officer owned 1,902,011 shares in the company, valued at $10,917,543.14. This represents a 2.70% increase in their position. The transaction was disclosed in a legal filing with the Securities & Exchange Commission, which is accessible through the SEC website. Also, Director Philippe D. Katz bought 10,000 shares of the firm's stock in a transaction on Thursday, August 14th. The shares were purchased at an average price of $5.67 per share, for a total transaction of $56,700.00. Following the purchase, the director owned 180,026 shares in the company, valued at $1,020,747.42. This trade represents a 5.88% increase in their position. The disclosure for this purchase can be found here.

Analyst Ratings Changes

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

Eastman Kodak Stock Performance

The stock has a market cap of $480.74 million, a P/E ratio of -59.35 and a beta of 0.90. 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 firm's 50-day moving average price is $6.31 and its 200-day moving average price is $6.42.

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 (EPS) for the quarter. The company had revenue of $263.00 million for the quarter. Eastman Kodak had a net margin of 1.06% and a return on equity of 2.32%.

Institutional Investors Weigh In On Eastman Kodak

Several institutional investors and hedge funds have recently modified their holdings of KODK. LPL Financial LLC raised its position in shares of Eastman Kodak by 27.6% during the fourth quarter. LPL Financial LLC now owns 18,337 shares of the technology company's stock valued at $120,000 after buying an additional 3,968 shares during the last quarter. Geode Capital Management LLC grew its holdings in shares of Eastman Kodak by 0.9% in the fourth quarter. Geode Capital Management LLC now owns 1,542,813 shares of the technology company's stock valued at $10,139,000 after purchasing an additional 14,142 shares in the last quarter. Invesco Ltd. grew its holdings in shares of Eastman Kodak by 1.9% in the fourth quarter. Invesco Ltd. now owns 350,171 shares of the technology company's stock valued at $2,301,000 after purchasing an additional 6,452 shares in the last quarter. Barclays PLC grew its holdings in shares of Eastman Kodak by 15.0% in the fourth quarter. Barclays PLC now owns 90,970 shares of the technology company's stock valued at $597,000 after purchasing an additional 11,876 shares in the last quarter. Finally, Jump Financial LLC purchased a new position in shares of Eastman Kodak in the fourth quarter valued at $278,000. Institutional investors 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.