Eastman Kodak (NYSE:KODK) Shares Up 7.4% – Time to Buy?

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

Eastman Kodak Price Performance

The firm has a fifty day moving average of $6.96 and a two-hundred day moving average of $5.74. The company has a current ratio of 2.41, a quick ratio of 1.51 and a debt-to-equity ratio of 0.47. The company has a market capitalization of $608.23 million, a PE ratio of 10.81 and a beta of 3.66.

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

Insider Buying and Selling at Eastman Kodak

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

Institutional Inflows and Outflows

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