Eastman Kodak (NYSE:KODK) Trading Down 7% – Here’s Why

Eastman Kodak (NYSE:KODK)’s share price fell 7% during mid-day trading on Friday . The stock traded as low as $7.55 and last traded at $7.52. 611,294 shares changed hands during mid-day trading, a decline of 51% from the average session volume of 1,246,680 shares. The stock had previously closed at $8.08.

Eastman Kodak Stock Down 6.4 %

The stock’s fifty day simple moving average is $6.96 and its two-hundred day simple moving average is $5.74. The stock has a market capitalization of $608.23 million, a P/E 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.

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

Insider Buying and Selling

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

Institutional Inflows and Outflows

Several hedge funds have recently modified their holdings of the stock. Cobblestone Capital Advisors LLC NY grew its holdings in shares of Eastman Kodak by 49.7% in the fourth quarter. Cobblestone Capital Advisors LLC NY now owns 30,140 shares of the technology company’s stock valued at $198,000 after acquiring an additional 10,000 shares in the last quarter. ARK Investment Management LLC grew its stake in Eastman Kodak by 9.7% in the 4th quarter. ARK Investment Management LLC now owns 19,218 shares of the technology company’s stock valued at $126,000 after purchasing an additional 1,692 shares during the period. Sanctuary Advisors LLC bought a new stake in shares of Eastman Kodak during the 4th quarter worth $475,000. Rhumbline Advisers boosted its holdings in shares of Eastman Kodak by 2.0% in the 4th quarter. Rhumbline Advisers now owns 98,600 shares of the technology company’s stock worth $648,000 after buying an additional 1,903 shares during the last quarter. Finally, Empowered Funds LLC increased its holdings in Eastman Kodak by 22.0% during the fourth quarter. Empowered Funds LLC now owns 417,758 shares of the technology company’s stock worth $2,745,000 after buying an additional 75,298 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.