Emerald (NYSE:EEX) Shares Up 6.6% - Here's What Happened

Emerald Holding, Inc. (NYSE:EEX - Get Free Report) was up 6.6% during trading on Monday . The company traded as high as $4.38 and last traded at $4.35. Approximately 54,768 shares traded hands during mid-day trading, a decline of 65% from the average daily volume of 155,011 shares. The stock had previously closed at $4.08.

Analyst Ratings Changes

A number of research firms recently weighed in on EEX. Maxim Group lowered their price target on shares of Emerald from $11.00 to $8.00 and set a "buy" rating on the stock in a research report on Thursday. Rosenblatt Securities lowered their target price on Emerald from $8.40 to $7.80 and set a "buy" rating on the stock in a report on Thursday.

Emerald Stock Up 3.9 %

The company has a quick ratio of 1.34, a current ratio of 1.27 and a debt-to-equity ratio of 1.02. The company has a market capitalization of $860.64 million, a PE ratio of -7.91 and a beta of 1.39. The firm has a 50-day moving average of $4.83 and a two-hundred day moving average of $5.39.

Emerald (NYSE:EEX - Get Free Report) last posted 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. Emerald had a negative net margin of 5.29% and a negative return on equity of 13.26%. The firm had revenue of $86.00 million during the quarter.

Emerald Cuts Dividend

The business also recently announced a quarterly dividend, which will be paid on Thursday, November 21st. Investors of record on Monday, November 11th will be paid a dividend of $0.015 per share. The ex-dividend date of this dividend is Friday, November 8th. This represents a $0.06 annualized dividend and a yield of 1.42%.

Hedge Funds Weigh In On Emerald

Hedge funds and other institutional investors have recently made changes to their positions in the stock. FFT Wealth Management LLC purchased a new position in Emerald in the second quarter worth approximately $532,000. Thrivent Financial for Lutherans increased its holdings in Emerald by 17.8% in the second quarter. Thrivent Financial for Lutherans now owns 126,479 shares of the company's stock valued at $719,000 after buying an additional 19,156 shares during the last quarter. Renaissance Technologies LLC increased its holdings in shares of Emerald by 9.0% in the 2nd 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. SG Americas Securities LLC acquired a new stake in shares of Emerald during the 3rd quarter worth about $53,000. Finally, Vanguard Group Inc. lifted its stake in Emerald by 0.5% during the first quarter. Vanguard Group Inc. now owns 1,113,221 shares of the company's stock worth $7,581,000 after purchasing an additional 5,184 shares during the last quarter. Hedge funds and other institutional investors 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.