Emerald (NYSE:EEX) Hits New 1-Year Low Following Analyst Downgrade

Emerald Holding, Inc. (NYSE:EEX - Get Free Report)'s stock price hit a new 52-week low during 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 trading hands. The stock had previously closed at $4.11.

Separately, Rosenblatt Securities decreased their target price on shares of Emerald from $8.40 to $7.80 and set a "buy" rating on the stock in a research report on Thursday.

Institutional Investors Weigh In On Emerald

Large investors have recently made changes to their positions in the stock. SG Americas Securities LLC acquired a new stake in shares of Emerald during the 3rd quarter worth about $53,000. Bank of New York Mellon Corp lifted its stake 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 acquired a new stake in shares of Emerald during the 2nd quarter worth about $532,000. Thrivent Financial for Lutherans lifted its stake in shares of Emerald by 17.8% during the 2nd quarter. Thrivent Financial for Lutherans now owns 126,479 shares of the company's stock worth $719,000 after buying an additional 19,156 shares during the last quarter. Finally, Renaissance Technologies LLC lifted its stake in shares of 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 buying an additional 16,200 shares during the last quarter. Institutional investors own 14.90% of the company's stock.

Emerald Trading Down 4.0 %

The business's 50 day moving average price is $4.88 and its 200-day moving average price is $5.43. The company has a current ratio of 1.34, a quick ratio of 1.34 and a debt-to-equity ratio of 0.98. The company has a market cap of $804.14 million, a price-to-earnings ratio of -5.37 and a beta of 1.36.

Emerald (NYSE:EEX - Get Free Report) last released its quarterly earnings results on Wednesday, August 7th. The company reported ($0.03) EPS for the quarter, topping analysts' consensus estimates of ($0.16) by $0.13. Emerald had a net margin of 0.25% and a return on equity of 3.53%. The business had revenue of $86.00 million for the quarter.

Emerald Cuts Dividend

The firm also recently declared a quarterly dividend, which will be paid on Thursday, November 21st. Investors of record on Monday, November 11th will be given a dividend of $0.015 per share. This represents a $0.06 dividend on an annualized basis and a yield of 1.52%. The ex-dividend date of this dividend is Friday, November 8th. Emerald's dividend payout ratio is -40.00%.

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.