Emerald (NYSE:EEX) Reaches New 1-Year Low After Analyst Downgrade

Emerald Holding, Inc. (NYSE:EEXGet Free Report)’s stock price hit a new 52-week low during mid-day trading on Thursday after Maxim Group lowered their price target on the stock from $11.00 to $8.00. Maxim Group 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. The stock had previously closed at $4.11.

Separately, 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 report on Thursday.

Read Our Latest Report on EEX

Hedge Funds Weigh In On Emerald

Hedge funds and other institutional investors have recently modified their holdings of the business. FFT Wealth Management LLC bought a new position in Emerald in the second quarter valued at about $532,000. Vanguard Group Inc. boosted its stake in shares of Emerald by 0.5% in the 1st 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 in the last quarter. Dimensional Fund Advisors LP grew its holdings in shares of Emerald by 1.0% during the 2nd 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 last quarter. Renaissance Technologies LLC increased its position in Emerald by 9.0% during 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 in the last quarter. Finally, Bank of New York Mellon Corp lifted its stake in Emerald by 5.9% in the 2nd 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 last quarter. Institutional investors own 14.90% of the company’s stock.

Emerald Price Performance

The business’s 50-day simple moving average is $4.86 and its two-hundred day simple moving average is $5.42. The stock has a market cap of $832.02 million, a price-to-earnings ratio of -7.56 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:EEXGet Free Report) last issued 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. The business had revenue of $86.00 million for the quarter. Emerald had a negative return on equity of 27.27% and a negative net margin of 5.29%.

Emerald Cuts Dividend

The firm also recently disclosed a quarterly dividend, which will be paid on Thursday, November 21st. Investors of record on Monday, November 11th will be issued a $0.015 dividend. The ex-dividend date of this dividend is Friday, November 8th. This represents a $0.06 dividend on an annualized basis and a yield of 1.47%. Emerald’s dividend payout ratio (DPR) is presently -11.11%.

Emerald Company Profile

(Get Free Report)

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.

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