Is Eastman Kodak Co. (KODK) a Good Stock to Buy?

With a general bullishness amongst the heavyweights, key money managers have been driving this bullishness. Southeastern Asset Management, led by Mason Hawkins, initiated the largest position in Eastman Kodak Co. (NYSE:KODK). Southeastern Asset Management had $6.4 million invested in the company at the end of the quarter. Cliff Asness’ AQR Capital Management also made a $1.2 million investment in the stock during the quarter. The other funds with brand new KODK positions are D. E. Shaw’s D E Shaw, Ken Griffin’s Citadel Investment Group, and Paul Tudor Jones’ Tudor Investment Corp. We should note that Southeastern Asset Management is among our list of the 100 best performing hedge funds which is based on the performance of their 13F long positions in non-microcap stocks.

Let’s now take a look at hedge fund activity in other stocks similar to Eastman Kodak Co. (NYSE:KODK). These stocks are Winnebago Industries, Inc. (NYSE:WGO), Aimmune Therapeutics Inc (NASDAQ:AIMT), Dime Community Bancshares, Inc. (NASDAQ:DCOM), and Richmont Mines Inc. (USA) (NYSEAMEX:RIC). All of these stocks’ market caps match KODK’s market cap.

As you can see these stocks had an average of 10 investors with bullish positions and the average amount invested in these stocks was $75 million, versus $155 million in KODK’s case. Winnebago Industries, Inc. (NYSE:WGO) is the most popular stock in this table. On the other hand Dime Community Bancshares, Inc. (NASDAQ:DCOM) is the least popular one with only eight funds holding shares. Eastman Kodak Co. (NYSE:KODK) is not the most popular stock in this group but hedge fund interest is still above average. This is a slightly positive signal but we’d rather spend our time researching stocks that hedge funds are piling on. In this regard WGO might be a better candidate to consider taking a long position in.

Disclosure: none