Thrivent Financial for Lutherans Lowers Holdings in Emerald Holding, Inc. (NYSE:EEX)

Thrivent Financial for Lutherans reduced its stake in shares of Emerald Holding, Inc. (NYSE:EEX) by 83.0% during the 3rd quarter, HoldingsChannel reports. The fund owned 21,555 shares of the company’s stock after selling 104,924 shares during the period. Thrivent Financial for Lutherans’ holdings in Emerald were worth $108,000 at the end of the most recent quarter.

Several other hedge funds have also modified their holdings of the stock. SG Americas Securities LLC acquired a new position in Emerald during the third quarter worth approximately $53,000. Bank of New York Mellon Corp increased 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 worth $401,000 after buying an additional 3,950 shares during the last quarter. FFT Wealth Management LLC purchased a new position in shares of Emerald in the 2nd quarter worth $532,000. Renaissance Technologies LLC boosted its holdings in 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 acquiring an additional 16,200 shares during the last quarter. Finally, Dimensional Fund Advisors LP grew its position in 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. 14.90% of the stock is owned by institutional investors and hedge funds.

Analysts Set New Price Targets

A number of equities analysts have recently commented on the company. Rosenblatt Securities cut their price objective on Emerald from $8.40 to $7.80 and set a “buy” rating on the stock in a report on Thursday, October 31st. Maxim Group dropped their price objective on shares of Emerald from $11.00 to $8.00 and set a “buy” rating for the company in a research report on Thursday, October 31st.

Emerald Price Performance

Shares of NYSE EEX opened at $4.84 on Friday. The company has a market capitalization of $982.42 million, a price-to-earnings ratio of -8.96 and a beta of 1.44. 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 Holding, Inc. has a 1-year low of $3.92 and a 1-year high of $7.05. The business has a 50-day moving average of $4.55 and a 200-day moving average of $5.20.

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 given a $0.015 dividend. 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 dividend payout ratio (DPR) is -11.11%.

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.