State Street Corp Grows Stock Holdings in Eastman Kodak Company $KODK

Key Points

• State Street increased its Eastman Kodak stake by 16.2% in the second quarter, adding 326,398 shares to hold 2.35 million shares valued at approximately $21.7 million. Institutional investors collectively own 33.65% of KODK.
• Analyst sentiment remains cautious: although some firms upgraded their ratings, KODK has an overall “Reduce” consensus based on one Hold and one Sell rating.
• KODK opened at $9.54, with a market capitalization of about $933.6 million. The company reported $311 million in quarterly revenue and $0.13 EPS, but continues to post a negative net margin and return on equity.

State Street Corp lifted its stake in Eastman Kodak Company (NYSE:KODK - Free Report) by 16.2% in the 2nd quarter, according to its most recent filing with the Securities and Exchange Commission (SEC). The institutional investor owned 2,345,933 shares of the technology company's stock after purchasing an additional 326,398 shares during the period. State Street Corp owned 2.40% of Eastman Kodak worth $21,700,000 at the end of the most recent reporting period.

Other institutional investors also recently bought and sold shares of the company. WINTON GROUP Ltd purchased a new stake in Eastman Kodak in the 2nd quarter worth approximately $390,000. Engineers Gate Manager LP bought a new stake in Eastman Kodak during the 2nd quarter worth approximately $453,000. Arizona State Retirement System purchased a new position in Eastman Kodak during the second quarter valued at approximately $162,000. AXQ Capital LP purchased a new position in Eastman Kodak during the second quarter valued at approximately $209,000. Finally, Two Sigma Securities LLC bought a new position in shares of Eastman Kodak in the second quarter worth approximately $95,000. 33.65% of the stock is owned by institutional investors.

Wall Street Analysts Forecast Growth

A number of equities research analysts have issued reports on KODK shares. Wall Street Zen upgraded Eastman Kodak from a "hold" rating to a "buy" rating in a research note on Saturday, August 8th. Zacks Research upgraded Eastman Kodak to a "hold" rating in a research report on Thursday, September 17th. Finally, Weiss Ratings upgraded Eastman Kodak from a "sell (d)" rating to a "sell (d+)" rating in a research report on Tuesday, August 11th. One equities research analyst has rated the stock with a Hold rating and one has assigned a Sell rating to the company's stock. Based on data from MarketBeat, the company presently has an average rating of "Reduce".

Eastman Kodak Stock Up 0.3%

NYSE KODK opened at $9.54 on Friday. The stock has a 50 day moving average price of $9.22 and a 200-day moving average price of $9.68. Eastman Kodak Company has a one year low of $5.78 and a one year high of $14.87. The company has a debt-to-equity ratio of 0.17, a quick ratio of 1.95 and a current ratio of 2.91. The company has a market capitalization of $933.57 million, a P/E ratio of -6.86 and a beta of 1.58.

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 for the quarter. Eastman Kodak had a negative net margin of 8.28% and a negative return on equity of 14.47%. The company had revenue of $311.00 million for the quarter. As a group, equities analysts predict that Eastman Kodak Company will post 0.39 EPS for the current fiscal year.

Eastman Kodak Company Profile

Eastman Kodak Company is a technology and imaging company that develops products and services for commercial printing, publishing, packaging, and professional photography. Its offerings include workflow software, digital printing systems, offset printing plates, inks, and related consumables. Kodak also supplies film and photographic chemicals for commercial, motion-picture, and specialty imaging applications.

The company serves customers worldwide, including commercial printers, publishers, packaging producers, manufacturers, professional photographers, and the film and entertainment industries.

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