Kodak finds new partner; stock rises 6.7%
And today, Eastman Kodak Co. stock surged 6.7 percent following news that a key investor has increased its stake in the company.
Legg Mason Value Trust, run by legendary fund manager Bill Miller, now owns 23 million shares of the company, up from 21.5 million at the end of the third quarter. That amounts to about 8 percent of Kodak’s outstanding shares.
Miller’s fund has outperformed the Standard and Poor’s 500 index for 15 straight years. Kodak stock closed at $26.54, up $1.64.