Eastman Kodak Company $KODK Stake Lifted by Bank of America Corp DE

Key Points

• Bank of America increased its Eastman Kodak stake by 438.9% in the first quarter, bringing its holdings to 331,883 shares valued at approximately $3 million. Several other institutional investors also added shares, with institutions collectively owning 33.65% of KODK.
• Eastman Kodak shares opened at $9.07, near their 50-day moving average, with a 12-month range of $5.73 to $14.87. The company reported quarterly revenue of $311 million and earnings of $0.13 per share, but maintained negative net margins and return on equity.
• Analyst sentiment remains unfavorable: although Wall Street Zen upgraded KODK to “buy,” Weiss Ratings only raised its assessment within the “sell” category, and the overall analyst consensus is still “Sell.”

Bank of America Corp DE raised its stake in Eastman Kodak Company (NYSE:KODK - Free Report) by 438.9% during the first quarter, according to its most recent disclosure with the SEC. The fund owned 331,883 shares of the technology company's stock after buying an additional 270,297 shares during the quarter. Bank of America Corp DE owned approximately 0.34% of Eastman Kodak worth $3,004,000 as of its most recent SEC filing.

Several other institutional investors have also modified their holdings of the company. Empowered Funds LLC grew its position in Eastman Kodak by 9.9% in the 1st quarter. Empowered Funds LLC now owns 388,916 shares of the technology company's stock worth $3,520,000 after purchasing an additional 35,007 shares during the last quarter. The Manufacturers Life Insurance Company boosted its position in Eastman Kodak by 13.7% during the 1st quarter. The Manufacturers Life Insurance Company now owns 17,672 shares of the technology company's stock worth $160,000 after acquiring an additional 2,124 shares during the period. Quantinno Capital Management LP grew its stake in shares of Eastman Kodak by 38.5% in the first quarter. Quantinno Capital Management LP now owns 81,446 shares of the technology company's stock worth $737,000 after purchasing an additional 22,650 shares in the last quarter. Lazard Asset Management LLC bought a new position in shares of Eastman Kodak in the first quarter worth $126,000. Finally, Weiss Asset Management LP acquired a new position in shares of Eastman Kodak during the first quarter valued at $790,000. Institutional investors own 33.65% of the company's stock.

Eastman Kodak Stock Up 0.3%

Shares of Eastman Kodak stock opened at $9.07 on Monday. Eastman Kodak Company has a 12-month low of $5.73 and a 12-month high of $14.87. The firm has a market capitalization of $888.04 million, a PE ratio of -6.53 and a beta of 1.56. The company has a quick ratio of 1.95, a current ratio of 2.91 and a debt-to-equity ratio of 0.17. The stock's fifty day moving average is $8.95 and its 200-day moving average is $9.43.

Eastman Kodak (NYSE:KODK - Get Free Report) last released its quarterly earnings results on Tuesday, August 4th. The technology company reported $0.13 earnings per share for the quarter. The business had revenue of $311.00 million during the quarter. Eastman Kodak had a negative return on equity of 14.47% and a negative net margin of 8.28%.

Analyst Upgrades and Downgrades

A number of brokerages recently issued reports on KODK. Weiss Ratings upgraded shares of Eastman Kodak from a "sell (d)" rating to a "sell (d+)" rating in a research report on Tuesday, August 11th. Wall Street Zen upgraded shares of Eastman Kodak from a "hold" rating to a "buy" rating in a research report on Saturday, August 8th. One analyst has rated the stock with a Sell rating, Based on data from MarketBeat.com, the company presently has an average rating of "Sell".

Eastman Kodak Company Profile

Eastman Kodak Company NYSE: KODK is a global technology firm specializing in imaging, printing and advanced materials. The company offers a wide array of products and services that enable customers to create, manage and share visual content across traditional and digital platforms. Its core offerings include graphic communications solutions, enterprise inkjet systems, packaging technologies, functional printing and micro 3D printing systems.

Kodak's graphic communications segment serves commercial printers, packaging converters and publishing houses with offset plates, digital presses, workflow software and services designed to streamline production.

This instant news alert was generated by narrative science technology and financial data from MarketBeat in order to provide readers with the fastest reporting and unbiased coverage. Please send any questions or comments about this story to contact@marketbeat.com.

Continue following MarketBeat

Add MarketBeat as your preferred source on Google to see our latest stories in your feed.

Add As Preferred Source