Emerald (NYSE:EEX) Shares Up 6.6% – Still a Buy?

Emerald Holding, Inc. (NYSE:EEX) shares were up 6.6% during trading on Monday . The company traded as high as $4.38 and last traded at $4.35. Approximately 54,768 shares were traded during mid-day trading, a decline of 65% from the average daily volume of 155,011 shares. The stock had previously closed at $4.08.

Wall Street Analyst Weigh In

A number of research analysts recently commented on EEX shares. Maxim Group decreased their price objective on Emerald from $11.00 to $8.00 and set a “buy” rating on the stock in a report on Thursday. Rosenblatt Securities decreased their price target on Emerald from $8.40 to $7.80 and set a “buy” rating on the stock in a research note on Thursday.

Emerald Stock Up 4.7 %

The company has a debt-to-equity ratio of 1.02, a current ratio of 1.27 and a quick ratio of 1.34. The business has a 50 day simple moving average of $4.83 and a 200 day simple moving average of $5.39. The company has a market capitalization of $866.72 million, a price-to-earnings ratio of -7.91 and a beta of 1.39.

Emerald (NYSE:EEX) last posted its quarterly earnings data on Wednesday, August 7th. The company reported ($0.03) earnings per share for the quarter, topping analysts’ consensus estimates of ($0.16) by $0.13. Emerald had a negative return on equity of 13.26% and a negative net margin of 5.29%. The business had revenue of $86.00 million for the quarter.

Emerald Cuts Dividend

The business also recently disclosed a quarterly dividend, which will be paid on Thursday, November 21st. Stockholders of record on Monday, November 11th will be given a dividend of $0.015 per share. This represents a $0.06 dividend on an annualized basis and a dividend yield of 1.41%. The ex-dividend date is Friday, November 8th.

Hedge Funds Weigh In On Emerald

Several large investors have recently bought and sold shares of the business. FFT Wealth Management LLC purchased a new stake in Emerald in the second quarter valued at approximately $532,000. Thrivent Financial for Lutherans grew its position in shares of Emerald by 17.8% during the second quarter. Thrivent Financial for Lutherans now owns 126,479 shares of the company’s stock worth $719,000 after acquiring an additional 19,156 shares during the last quarter. Renaissance Technologies LLC increased its holdings in shares of Emerald by 9.0% in the 2nd quarter. Renaissance Technologies LLC now owns 195,357 shares of the company’s stock valued at $1,112,000 after acquiring an additional 16,200 shares during the period. SG Americas Securities LLC purchased a new position in Emerald during the 3rd quarter worth $53,000. Finally, Vanguard Group Inc. increased its stake in Emerald by 0.5% in the first quarter. Vanguard Group Inc. now owns 1,113,221 shares of the company’s stock valued at $7,581,000 after purchasing an additional 5,184 shares during the period. Hedge funds and other institutional investors own 14.90% of the company’s stock.

Emerald Company Profile

Emerald Holding, Inc operates business-to-business (B2B) trade shows in the United States. The company provides B2B trade show franchises; and B2B print publications and digital media products, which provide industry specific business news and information across various sectors. It also offers B2B e-commerce and digital merchandising solutions to manufacturers and retailers through Elastic Suite and Bulletin platforms.