Tenzing Global Management LLC Invests $1.58 Million in Eastman Kodak Company $KODK

Key Points

• Tenzing Global Management LLC acquired a new position in Eastman Kodak Company, purchasing 250,000 shares valued at approximately $1.58 million, making it the firm's 18th largest holding.
• Several institutional investors have increased their stakes in Eastman Kodak, with Northern Trust Corp raising its position by 27.2% during the last quarter.
• Wall Street Zen downgraded Eastman Kodak's stock rating from a "hold" to a "sell" on May 12th, reflecting a negative outlook on the stock's performance.

Tenzing Global Management LLC bought a new position in shares of Eastman Kodak Company (NYSE:KODK - Free Report) in the 1st quarter, according to the company in its most recent filing with the Securities and Exchange Commission (SEC). The institutional investor bought 250,000 shares of the technology company's stock, valued at approximately $1,580,000. Eastman Kodak accounts for about 1.1% of Tenzing Global Management LLC's holdings, making the stock its 18th largest holding. Tenzing Global Management LLC owned approximately 0.31% of Eastman Kodak at the end of the most recent quarter.

Other hedge funds have also made changes to their positions in the company. AlphaQuest LLC acquired a new stake in shares of Eastman Kodak during the first quarter worth about $27,000. GAMMA Investing LLC lifted its position in Eastman Kodak by 1,163.0% in the first quarter. GAMMA Investing LLC now owns 7,363 shares of the technology company's stock valued at $47,000 after purchasing an additional 6,780 shares during the period. New York State Common Retirement Fund lifted its position in Eastman Kodak by 64.4% in the first quarter. New York State Common Retirement Fund now owns 8,681 shares of the technology company's stock valued at $55,000 after purchasing an additional 3,400 shares during the period. Costello Asset Management INC acquired a new stake in Eastman Kodak in the first quarter valued at about $63,000. Finally, Novem Group acquired a new stake in Eastman Kodak in the fourth quarter valued at about $85,000. Institutional investors and hedge funds own 33.65% of the company's stock.

Eastman Kodak Price Performance

Eastman Kodak stock traded up $0.09 during mid-day trading on Tuesday, reaching $5.87. The company had a trading volume of 680,778 shares, compared to its average volume of 1,867,025. Eastman Kodak Company has a 1 year low of $4.26 and a 1 year high of $8.24. 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 company has a market capitalization of $475.07 million, a P/E ratio of -58.65 and a beta of 1.26. The stock's 50-day simple moving average is $6.34 and its 200-day simple moving average is $6.24.

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

Insider Buying and Selling

In other Eastman Kodak news, Director Philippe D. Katz acquired 10,000 shares of the company's stock in a transaction dated Thursday, August 14th. The stock was acquired at an average cost of $5.67 per share, with a total value of $56,700.00. Following the purchase, the director directly owned 180,026 shares in the company, valued at approximately $1,020,747.42. This trade represents a 5.88% increase in their position. The acquisition was disclosed in a filing with the SEC, which is available through this link. Also, CEO James V. Continenza acquired 50,000 shares of the company's stock in a transaction dated Thursday, August 14th. The shares were acquired at an average cost of $5.74 per share, with a total value of $287,000.00. Following the completion of the purchase, the chief executive officer owned 1,902,011 shares in the company, valued at approximately $10,917,543.14. This represents a 2.70% increase in their ownership of the stock. The disclosure for this purchase can be found here. Company insiders own 23.86% of the company's stock.

Analyst Upgrades and Downgrades

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

Eastman Kodak 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.