Emerald (NYSE:EEX) Sees Strong Trading Volume – Still a Buy?

Emerald Holding, Inc. (NYSE:EEX) saw unusually-high trading volume on Tuesday . Approximately 116,825 shares changed hands during 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.

Analysts Set New Price Targets

Several brokerages recently issued reports on EEX. Maxim Group dropped their price target on Emerald from $11.00 to $8.00 and set a “buy” rating on the stock in a research report on Thursday, October 31st. Rosenblatt Securities dropped their target price on Emerald from $8.40 to $7.80 and set a “buy” rating on the stock in a report on Thursday, October 31st.

Emerald Stock Performance

The company has a market cap of $966.20 million, a PE ratio of -8.81 and a beta of 1.44. The stock’s 50-day simple moving average is $4.66 and its 200 day simple moving average is $5.11. The company has a debt-to-equity ratio of 1.02, a quick ratio of 1.27 and a current ratio of 1.27.

Emerald Cuts Dividend

The company also recently disclosed a quarterly dividend, which was paid on Thursday, November 21st. Investors of record on Monday, November 11th were given a $0.015 dividend. The ex-dividend date of this dividend was Friday, November 8th. This represents a $0.06 dividend on an annualized basis and a yield of 1.26%. Emerald’s payout ratio is currently -11.11%.

Hedge Funds Weigh In On Emerald

Several institutional investors and hedge funds have recently added to or reduced their stakes in the business. Virtu Financial LLC acquired a new stake in shares of Emerald in the 3rd quarter valued at approximately $67,000. Barclays PLC grew its holdings in Emerald by 184.2% during the third quarter. Barclays PLC now owns 21,977 shares of the company’s stock worth $109,000 after acquiring an additional 14,244 shares during the period. Geode Capital Management LLC raised its position in Emerald by 1.2% in the third quarter. Geode Capital Management LLC now owns 391,404 shares of the company’s stock worth $1,953,000 after acquiring an additional 4,760 shares in the last quarter. Jane Street Group LLC lifted its holdings in Emerald by 1,249.7% in the third quarter. Jane Street Group LLC now owns 352,566 shares of the company’s stock valued at $1,759,000 after acquiring an additional 326,445 shares during the period. Finally, State Street Corp boosted its position in shares of Emerald by 5.7% during the 3rd quarter. State Street Corp now owns 235,640 shares of the company’s stock worth $1,176,000 after purchasing an additional 12,622 shares in the last quarter. Institutional investors and hedge funds 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.