Cannell Capital LLC Raises Stake in Emerald Holding, Inc. (NYSE:EEX)

Cannell Capital LLC lifted its position in Emerald Holding, Inc. (NYSE:EEX - Free Report) by 5.0% in the 4th quarter, according to the company in its most recent 13F filing with the Securities and Exchange Commission (SEC). The institutional investor owned 2,181,027 shares of the company's stock after acquiring an additional 104,299 shares during the quarter. Emerald makes up approximately 2.2% of Cannell Capital LLC's portfolio, making the stock its 19th largest position. Cannell Capital LLC owned about 1.07% of Emerald worth $10,513,000 at the end of the most recent reporting period.

Several other institutional investors and hedge funds also recently made changes to their positions in the company. Raymond James Financial Inc. purchased a new position in shares of Emerald in the 4th quarter worth approximately $2,970,000. Bank of New York Mellon Corp lifted its holdings in Emerald by 721.6% during the fourth quarter. Bank of New York Mellon Corp now owns 484,135 shares of the company's stock worth $2,334,000 after acquiring an additional 425,207 shares during the period. Jane Street Group LLC boosted its position in Emerald by 1,249.7% in the third quarter. Jane Street Group LLC now owns 352,566 shares of the company's stock worth $1,759,000 after purchasing an additional 326,445 shares during the last quarter. Charles Schwab Investment Management Inc. grew its stake in Emerald by 247.4% in the 3rd quarter. Charles Schwab Investment Management Inc. now owns 148,201 shares of the company's stock valued at $740,000 after purchasing an additional 105,535 shares during the period. Finally, American Century Companies Inc. purchased a new stake in shares of Emerald during the 4th quarter valued at $210,000. Hedge funds and other institutional investors own 14.90% of the company's stock.

Wall Street Analyst Weigh In

Separately, Rosenblatt Securities reissued a "buy" rating and issued a $7.80 price target on shares of Emerald in a report on Thursday, March 13th.

Emerald Price Performance

Emerald stock remained flat at $3.57 during trading on Friday. The company had a trading volume of 85,179 shares, compared to its average volume of 187,980. The company's 50-day moving average price is $4.01 and its 200 day moving average price is $4.41. Emerald Holding, Inc. has a fifty-two week low of $3.22 and a fifty-two week high of $6.74. The firm has a market cap of $714.17 million, a PE ratio of -6.61 and a beta of 0.84. 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 (NYSE:EEX - Get Free Report) last issued its quarterly earnings results on Friday, March 14th. The company reported $0.03 EPS for the quarter, meeting analysts' consensus estimates of $0.03. Emerald had a negative return on equity of 13.26% and a negative net margin of 5.29%. The firm had revenue of $106.80 million for the quarter, compared to analysts' expectations of $108.05 million.

Emerald Announces Dividend

The firm also recently announced a quarterly dividend, which was paid on Thursday, March 20th. Stockholders of record on Monday, March 10th were paid a $0.015 dividend. The ex-dividend date was Monday, March 10th. This represents a $0.06 annualized dividend and a dividend yield of 1.68%. Emerald's payout ratio is -120.00%.

Emerald 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.