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

Emerald Holding, Inc. (NYSE:EEX) saw an uptick in trading volume on Tuesday . 116,825 shares traded hands during mid-day trading, a decline of 27% from the previous session’s volume of 159,038 shares.The stock last traded at $4.79 and had previously closed at $4.83.

Analyst Upgrades and Downgrades

A number of brokerages have weighed in on EEX. Maxim Group reduced their price target on Emerald from $11.00 to $8.00 and set a “buy” rating on the stock in a research note on Thursday, October 31st. Rosenblatt Securities reduced their target price on Emerald from $8.40 to $7.80 and set a “buy” rating on the stock in a research report on Thursday, October 31st.

Emerald Stock Down 0.6 %

The stock has a market cap of $974.32 million, a price-to-earnings ratio of -8.89 and a beta of 1.44. The firm’s 50-day moving average is $4.64 and its 200 day moving average is $5.11. The company has a debt-to-equity ratio of 1.02, a current ratio of 1.27 and a quick ratio of 1.27.

Emerald Cuts Dividend

The company also recently announced a quarterly dividend, which was paid on Thursday, November 21st. Investors of record on Monday, November 11th were issued a $0.015 dividend. This represents a $0.06 dividend on an annualized basis and a yield of 1.25%. The ex-dividend date of this dividend was Friday, November 8th. Emerald’s payout ratio is currently -11.11%.

Institutional Trading of Emerald

A number of institutional investors have recently modified their holdings of EEX. Bank of New York Mellon Corp lifted its holdings in shares of Emerald by 5.9% during the 2nd quarter. Bank of New York Mellon Corp now owns 70,486 shares of the company’s stock valued at $401,000 after acquiring an additional 3,950 shares in the last quarter. FFT Wealth Management LLC purchased a new position in Emerald in the 2nd quarter worth approximately $532,000. Dimensional Fund Advisors LP raised 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 purchasing an additional 2,624 shares during the period. Renaissance Technologies LLC boosted its stake in shares of Emerald by 9.0% in the second quarter. Renaissance Technologies LLC now owns 195,357 shares of the company’s stock valued at $1,112,000 after purchasing an additional 16,200 shares during the period. Finally, 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 valued at $719,000 after purchasing an additional 19,156 shares in the last quarter. 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.