Emerald (NYSE:EEX) Sees Large Volume Increase – Here’s What Happened

Emerald Holding, Inc. (NYSE:EEX) saw unusually-high trading volume on Wednesday . Approximately 633,364 shares changed hands during mid-day trading, an increase of 310% from the previous session’s volume of 154,467 shares.The stock last traded at $4.89 and had previously closed at $4.83.

Wall Street Analyst Weigh In

EEX has been the subject of a number of recent research reports. Rosenblatt Securities cut their target price on shares of Emerald from $8.40 to $7.80 and set a “buy” rating for the company in a report on Thursday, October 31st. Maxim Group cut their target price on shares of Emerald from $11.00 to $8.00 and set a “buy” rating for the company in a report on Thursday, October 31st.

Emerald Price Performance

The company has a quick ratio of 1.27, a current ratio of 1.27 and a debt-to-equity ratio of 1.02. The firm’s 50 day simple moving average is $4.52 and its 200 day simple moving average is $5.25. The company has a market capitalization of $978.38 million, a PE ratio of -8.93 and a beta of 1.39.

Emerald Cuts Dividend

The company also recently disclosed a quarterly dividend, which was paid on Thursday, November 21st. Shareholders of record on Monday, November 11th were paid a dividend of $0.015 per share. This represents a $0.06 annualized dividend and a yield of 1.24%. The ex-dividend date of this dividend was Friday, November 8th. Emerald’s payout ratio is -11.11%.

Institutional Inflows and Outflows

Several institutional investors and hedge funds have recently bought and sold shares of the company. Dimensional Fund Advisors LP boosted its stake in Emerald by 1.0% during the second quarter. Dimensional Fund Advisors LP now owns 269,034 shares of the company’s stock worth $1,531,000 after buying an additional 2,624 shares during the period. Bank of New York Mellon Corp boosted its stake in shares of Emerald by 5.9% during the second quarter. Bank of New York Mellon Corp now owns 70,486 shares of the company’s stock valued at $401,000 after purchasing an additional 3,950 shares during the period. Geode Capital Management LLC boosted its stake in shares of Emerald by 1.2% during the third quarter. Geode Capital Management LLC now owns 391,404 shares of the company’s stock valued at $1,953,000 after purchasing an additional 4,760 shares during the period. Vanguard Group Inc. boosted its stake in shares of Emerald by 0.5% during 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. Finally, SG Americas Securities LLC purchased a new stake in shares of Emerald during the third quarter valued at $53,000. 14.90% of the stock is owned by hedge funds and other institutional investors.

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.