Investors Buy Large Volume of Eastman Kodak Call Options (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 unusually large options trading activity on Tuesday. Investors purchased 18,959 call options on the company. Thisrepresentsanincreaseof310% compared to the typical daily volume of 4,620 call options.

Eastman Kodak Price Performance

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

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

Analyst Upgrades and Downgrades

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

Insider Transactions at Eastman Kodak

In related news, CEO James V. Continenza bought 50,000 shares of the company's stock in a transaction dated Thursday, August 14th. The stock was purchased at an average price of $5.74 per share, with a total value of $287,000.00. Following the completion of the acquisition, the chief executive officer owned 1,902,011 shares of the company's stock, valued at $10,917,543.14. The trade was a 2.70% increase in their ownership of the stock. The purchase was disclosed in a filing with the Securities & Exchange Commission, which is available through the SEC website. Also, Director Philippe D. Katz bought 10,000 shares of the company's stock in a transaction dated Thursday, August 14th. The stock was bought at an average cost of $5.67 per share, with a total value of $56,700.00. Following the acquisition, the director directly owned 180,026 shares of the company's stock, valued at approximately $1,020,747.42. The trade was a 5.88% increase in their position. The disclosure for this purchase can be found here. Corporate insiders own 23.87% of the company's stock.

Institutional Inflows and Outflows

A number of large investors have recently added to or reduced their stakes in KODK. Marshall Wace LLP raised its holdings in Eastman Kodak by 50.6% during the 2nd quarter. Marshall Wace LLP now owns 2,711,241 shares of the technology company's stock worth $15,319,000 after purchasing an additional 910,644 shares during the last quarter. Russell Investments Group Ltd. raised its holdings in Eastman Kodak by 34,542.8% during the 1st quarter. Russell Investments Group Ltd. now owns 272,639 shares of the technology company's stock worth $1,723,000 after purchasing an additional 271,852 shares during the last quarter. Prescott Group Capital Management L.L.C. bought a new position in Eastman Kodak during the 2nd quarter worth approximately $1,526,000. Tenzing Global Management LLC bought a new position in Eastman Kodak during the 1st quarter worth approximately $1,580,000. Finally, Susquehanna Fundamental Investments LLC bought a new position in Eastman Kodak during the 4th quarter worth approximately $1,316,000. Institutional investors own 33.65% of the company's stock.

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.