Renaissance Technologies LLC Sells 166,755 Shares of Eastman Kodak Company $KODK

Key Points

• Renaissance Technologies cut its Eastman Kodak position by 85.8% in the first quarter, selling 166,755 shares and retaining 27,590 shares valued at approximately $250,000.
• Other institutional investors increased or initiated positions in Kodak, while institutional ownership stood at 33.65% of outstanding shares.
• Analyst sentiment remains bearish: MarketBeat reports a consensus “Sell” rating. Kodak shares opened at $9.70, and the company recently reported $0.13 in quarterly EPS on $311 million in revenue, alongside negative net margin and return on equity.

Renaissance Technologies LLC trimmed its holdings in Eastman Kodak Company (NYSE:KODK - Free Report) by 85.8% during the first quarter, according to its most recent 13F filing with the Securities and Exchange Commission (SEC). The firm owned 27,590 shares of the technology company's stock after selling 166,755 shares during the quarter. Renaissance Technologies LLC's holdings in Eastman Kodak were worth $250,000 as of its most recent filing with the Securities and Exchange Commission (SEC).

Several other institutional investors and hedge funds also recently made changes to their positions in KODK. BNP Paribas Financial Markets grew its stake in Eastman Kodak by 78.2% during the second quarter. BNP Paribas Financial Markets now owns 6,207 shares of the technology company's stock worth $35,000 after purchasing an additional 2,723 shares during the period. Headlands Technologies LLC acquired a new position in Eastman Kodak in the second quarter valued at approximately $45,000. Tower Research Capital LLC TRC boosted its holdings in shares of Eastman Kodak by 239.7% during the 2nd quarter. Tower Research Capital LLC TRC now owns 8,075 shares of the technology company's stock worth $46,000 after buying an additional 5,698 shares in the last quarter. Farther Finance Advisors LLC boosted its holdings in shares of Eastman Kodak by 2,394.0% during the 4th quarter. Farther Finance Advisors LLC now owns 7,033 shares of the technology company's stock worth $59,000 after buying an additional 6,751 shares in the last quarter. Finally, Kemnay Advisory Services Inc. acquired a new stake in shares of Eastman Kodak during the 4th quarter worth approximately $71,000. Institutional investors own 33.65% of the company's stock.

Wall Street Analyst Weigh In

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

Eastman Kodak Stock Down 1.2%

KODK stock opened at $9.70 on Thursday. The firm has a market capitalization of $949.73 million, a PE ratio of -6.98 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. Eastman Kodak Company has a twelve month low of $5.73 and a twelve month high of $14.87. The stock's 50 day moving average is $8.95 and its 200-day moving average is $9.33.

Eastman Kodak (NYSE:KODK - Get Free Report) last announced its quarterly earnings results on Tuesday, August 4th. The technology company reported $0.13 earnings per share (EPS) 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%.

Eastman Kodak 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.

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