Eastman Kodak director Philippe Katz acquires $39,000 in shares

Philippe D. Katz, a director and important shareholder of Eastman Kodak Co. (NYSE:KODK), not too long ago bought 6,000 shares of the corporate’s widespread inventory. The acquisition was made at a worth of $6.50 per share, totaling $39,000. Following this transaction, Katz immediately owns 170,026 shares of Eastman Kodak, which has seen spectacular returns of over 82% prior to now yr. In keeping with InvestingPro, the inventory is at the moment buying and selling close to its Honest Worth, with a market capitalization of $540 million.

Along with his direct holdings, Katz maintains oblique possession via a number of entities. These embrace KF Traders LLC, Momar Company, United Equities Commodities Firm, Marneu Holding Firm, and 111 John Realty Corp., with whole holdings of over 4.1 million shares mixed.

The transaction was documented in a Kind 4 submitting with the Securities and Alternate Fee, reflecting adjustments in helpful possession. This buy highlights Katz’s ongoing funding in Eastman Kodak, an organization identified for its photographic gear and provides.

In different latest information, Eastman Kodak revealed its third-quarter monetary outcomes for 2024, which displayed a combined image. Regardless of a 3% drop in revenues to $261 million and a lower in gross revenue margin to 17%, the corporate reported a major enhance in web revenue, rising from $2 million within the third quarter of 2023 to $18 million in the identical interval this yr.

The corporate’s dedication to innovation stays robust, significantly within the realms of superior supplies and chemical substances. This consists of investments in battery expertise and modernizing movie manufacturing processes. A good ruling from the Worldwide Commerce Fee ( ITC (NS:ITC)) can also be anticipated to boost Kodak’s competitiveness within the U.S. market.

These are latest developments that illustrate Eastman Kodak’s efforts to stability operational challenges with strategic investments. Regardless of going through increased prices and a lower in money reserves, the corporate’s marked enhance in web revenue and dedication to innovation point out a possible for resilience and future competitiveness. Eastman Kodak continues to prioritize development initiatives in battery expertise and substrate coating, sustaining a concentrate on long-term strategic targets.

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