Eastman Kodak Target of Unusually High Options Trading (NYSE:KODK)

Key Points

• Eastman Kodak experienced a significant spike in call option trading, with investors acquiring 18,959 call options, marking a 310% increase from the average daily volume of 4,620.
• Despite the options activity, Eastman Kodak's stock price fell 24.5% to $5.12, following a disappointing earnings report showing a loss of ($0.30) earnings per share.
• Institutional investors have shown increased interest, with Russell Investments Group Ltd. raising its stake in Kodak by over 34,000% during the first quarter.

Eastman Kodak Company (NYSE:KODK - Get Free Report) was the recipient of some unusual options trading activity on Tuesday. Stock traders purchased 18,959 call options on the stock. Thisrepresentsanincreaseofapproximately310% compared to the average volume of 4,620 call options.

Eastman Kodak Price Performance

KODK traded up $0.42 during trading hours on Friday, hitting $6.25. The company's stock had a trading volume of 3,511,410 shares, compared to its average volume of 1,795,338. The business's 50-day moving average price is $6.31 and its 200-day moving average price is $6.44. Eastman Kodak has a 12 month low of $4.26 and a 12 month high of $8.24. The stock has a market cap of $506.25 million, a price-to-earnings ratio of -62.50 and a beta of 0.90. The company has a current ratio of 0.79, a quick ratio of 1.31 and a debt-to-equity ratio of 0.02.

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

Insider Activity at Eastman Kodak

In related news, Director Philippe D. Katz acquired 10,000 shares of Eastman Kodak stock in a transaction dated 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 completion of the transaction, the director directly owned 180,026 shares in the company, valued at approximately $1,020,747.42. This represents a 5.88% increase in their position. The transaction was disclosed in a legal filing with the Securities & Exchange Commission, which is available through the SEC website. Also, CEO James V. Continenza acquired 50,000 shares of Eastman Kodak stock in a transaction dated Thursday, August 14th. The shares were bought at an average price of $5.74 per share, for a total transaction of $287,000.00. Following the transaction, the chief executive officer owned 1,902,011 shares of the company's stock, valued at approximately $10,917,543.14. The trade was a 2.70% increase in their ownership of the stock. The disclosure for this purchase can be found here. Company insiders own 23.87% of the company's stock.

Institutional Inflows and Outflows

Hedge funds have recently bought and sold shares of the company. AlphaQuest LLC bought a new position in Eastman Kodak during the first quarter valued at $27,000. BNP Paribas Financial Markets increased its position 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 valued at $35,000 after acquiring an additional 2,723 shares during the last quarter. Byrne Asset Management LLC bought a new position in Eastman Kodak during the second quarter valued at $39,000. Headlands Technologies LLC bought a new position in Eastman Kodak during the second quarter valued at $45,000. Finally, Tower Research Capital LLC TRC increased its position in Eastman Kodak by 239.7% during the second quarter. Tower Research Capital LLC TRC now owns 8,075 shares of the technology company's stock valued at $46,000 after acquiring an additional 5,698 shares during the last quarter. Institutional investors own 33.65% of the company's stock.

Analyst Upgrades and Downgrades

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

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.