Eastman Kodak (NYSE:KODK) Trading 13.5% Higher on Insider Buying Activity

Eastman Kodak (NYSE:KODK)’s stock price traded up 13.5% on Wednesday after an insider bought additional shares in the company. The company traded as high as $1.85 and last traded at $1.93, 24,236 shares were traded during mid-day trading. A decline of 92% from the average session volume of 299,086 shares. The stock had previously closed at $1.70.

Specifically, Director Philippe D. Katz bought 40,000 shares of the business’s stock in a transaction on Friday, March 20th. The stock was purchased at an average price of $1.72 per share, for a total transaction of $68,800.00. Following the completion of the transaction, the director now directly owns 93,362 shares of the company’s stock, valued at $160,582.64. The acquisition was disclosed in a filing with the SEC, which is accessible through this link. Also, major shareholder Moses Marx bought 53,729 shares of Eastman Kodak stock in a transaction dated Monday, March 23rd. The stock was acquired at an average price of $1.55 per share, with a total value of $83,279.95. Following the purchase, the insider now directly owns 300,303 shares of the company’s stock, valued at $465,469.65. The disclosure for this purchase can be found here. Insiders acquired 143,729 shares of company stock valued at $241,580 over the last three months. Company insiders own 19.10% of the company’s stock.

Separately, ValuEngine raised shares of Eastman Kodak from a “sell” rating to a “hold” rating in a research report on Tuesday, January 7th.

The firm’s 50-day moving average price is $2.80 and its 200-day moving average price is $2.92. The company has a debt-to-equity ratio of 1.59, a current ratio of 1.92 and a quick ratio of 1.33.

Several hedge funds and other institutional investors have recently bought and sold shares of the company. Renaissance Technologies LLC bought a new stake in shares of Eastman Kodak in the fourth quarter valued at approximately $555,000. Credit Suisse AG bought a new stake in shares of Eastman Kodak in the fourth quarter valued at approximately $528,000. Jacobs Levy Equity Management Inc. raised its position in shares of Eastman Kodak by 89.4% in the fourth quarter. Jacobs Levy Equity Management Inc. now owns 67,179 shares of the technology company’s stock valued at $312,000 after purchasing an additional 31,717 shares during the period. State Street Corp raised its position in shares of Eastman Kodak by 6.6% in the fourth quarter. State Street Corp now owns 50,264 shares of the technology company’s stock valued at $234,000 after purchasing an additional 3,128 shares during the period. Finally, Tower Research Capital LLC TRC raised its position in shares of Eastman Kodak by 122.0% in the third quarter. Tower Research Capital LLC TRC now owns 20,360 shares of the technology company’s stock valued at $54,000 after purchasing an additional 11,188 shares during the period. 27.69% of the stock is currently owned by institutional investors.

About Eastman Kodak (NYSE:KODK)

Eastman Kodak Company provides hardware, software, consumables, and services to customers in the graphic arts, commercial print, publishing, electronic displays, entertainment and commercial films, and consumer products markets worldwide. The company operates in six segments: Print Systems, Enterprise Inkjet Systems, Software and Solutions, Consumer and Film, Advanced Materials and 3D Printing Technology, and Eastman Business Park.

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