Eastman Kodak (NYSE:KODK) Stock Price Up 7.4% – Here’s What Happened

Eastman Kodak (NYSE:KODK)’s share price shot up 7.4% during mid-day trading on Thursday . The company traded as high as $8.12 and last traded at $8.22. 731,200 shares traded hands during mid-day trading, a decline of 40% from the average session volume of 1,226,391 shares. The stock had previously closed at $7.66.

Eastman Kodak Stock Down 6.4 %

The company has a market capitalization of $608.23 million, a PE ratio of 10.81 and a beta of 3.66. The company has a debt-to-equity ratio of 0.47, a quick ratio of 1.51 and a current ratio of 2.41. The company’s 50-day moving average is $6.96 and its 200 day moving average is $5.74.

Eastman Kodak (NYSE:KODK) last posted its quarterly earnings results on Tuesday, November 12th. The technology company reported $0.15 EPS for the quarter. The firm had revenue of $261.00 million for the quarter. Eastman Kodak had a net margin of 7.70% and a return on equity of 8.47%.

Insiders Place Their Bets

In related news, Director Michael Sileck acquired 10,000 shares of the firm’s stock in a transaction dated Thursday, December 19th. The stock was purchased at an average cost of $7.02 per share, with a total value of $70,200.00. Following the completion of the acquisition, the director now directly owns 107,940 shares of the company’s stock, valued at approximately $757,738.80. This trade represents a 10.21 % increase in their ownership of the stock. The acquisition was disclosed in a document filed with the SEC, which is accessible through the SEC website. Also, Director Philippe D. Katz acquired 6,000 shares of the stock in a transaction that occurred on Wednesday, December 11th. The shares were bought at an average price of $6.50 per share, for a total transaction of $39,000.00. Following the transaction, the director now owns 170,026 shares of the company’s stock, valued at $1,105,169. This trade represents a 3.66 % increase in their ownership of the stock. The disclosure for this purchase can be found here. Corporate insiders own 23.86% of the company’s stock.

Institutional Trading of Eastman Kodak

Hedge funds have recently bought and sold shares of the company. Victory Capital Management Inc. purchased a new position in Eastman Kodak in the third quarter worth about $635,000. JPMorgan Chase & Co. lifted its stake in shares of Eastman Kodak by 75.3% in the 3rd quarter. JPMorgan Chase & Co. now owns 222,065 shares of the technology company’s stock worth $1,048,000 after purchasing an additional 95,402 shares during the period. Geode Capital Management LLC boosted its holdings in shares of Eastman Kodak by 3.9% in the third quarter. Geode Capital Management LLC now owns 1,528,671 shares of the technology company’s stock worth $7,217,000 after buying an additional 57,487 shares during the last quarter. Barclays PLC increased its holdings in Eastman Kodak by 277.6% during the third quarter. Barclays PLC now owns 79,094 shares of the technology company’s stock valued at $373,000 after buying an additional 58,150 shares during the last quarter. Finally, State Street Corp boosted its stake in shares of Eastman Kodak by 1.1% during the 3rd quarter. State Street Corp now owns 1,956,101 shares of the technology company’s stock worth $9,233,000 after acquiring an additional 20,731 shares during the last quarter. Hedge funds and other institutional investors own 33.65% of the company’s stock.

About Eastman Kodak

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.