Emerald (NYSE:EEX) Sets New 1-Year Low Following Analyst Downgrade

Emerald Holding, Inc. (NYSE:EEX)’s stock price reached a new 52-week low on Thursday after Rosenblatt Securities lowered their price target on the stock from $8.40 to $7.80. Rosenblatt Securities currently has a buy rating on the stock. Emerald traded as low as $3.96 and last traded at $4.04, with a volume of 37076 shares changing hands. The stock had previously closed at $4.11.

Hedge Funds Weigh In On Emerald

Several hedge funds and other institutional investors have recently added to or reduced their stakes in the stock. SG Americas Securities LLC acquired a new position in shares of Emerald in the 3rd quarter valued at $53,000. Thrivent Financial for Lutherans grew its holdings in Emerald by 17.8% during the 2nd 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 raised its position in Emerald by 9.0% in the 2nd quarter. Renaissance Technologies LLC now owns 195,357 shares of the company’s stock worth $1,112,000 after purchasing an additional 16,200 shares during the last quarter. Dimensional Fund Advisors LP lifted its stake in shares of Emerald by 1.0% during the second quarter. Dimensional Fund Advisors LP now owns 269,034 shares of the company’s stock valued at $1,531,000 after acquiring an additional 2,624 shares during the period. Finally, FFT Wealth Management LLC bought a new position in shares of Emerald in the 2nd quarter valued at about $532,000. Institutional investors and hedge funds own 14.90% of the company’s stock.

Emerald Trading Down 2.7 %

The business’s 50 day simple moving average is $4.90 and its 200-day simple moving average is $5.44. The stock has a market capitalization of $815.35 million, a P/E ratio of -5.48 and a beta of 1.36. The company has a debt-to-equity ratio of 0.98, a current ratio of 1.34 and a quick ratio of 1.34.

Emerald (NYSE:EEX) last issued its quarterly earnings results on Wednesday, August 7th. The company reported ($0.03) earnings per share for the quarter, topping the consensus estimate of ($0.16) by $0.13. The company had revenue of $86.00 million during the quarter. Emerald had a net margin of 0.25% and a return on equity of 3.53%.

Emerald Cuts Dividend

The business also recently disclosed a quarterly dividend, which will be paid on Thursday, November 21st. Shareholders of record on Monday, November 11th will be given a dividend of $0.015 per share. The ex-dividend date is Friday, November 8th. This represents a $0.06 dividend on an annualized basis and a yield of 1.50%. Emerald’s dividend payout ratio (DPR) is -40.00%.

About Emerald

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.