Emerald (NYSE:EEX) Sees Large Volume Increase – Here’s What Happened

Emerald Holding, Inc. (NYSE:EEX) saw unusually-high trading volume on Wednesday . Approximately 633,364 shares traded hands during trading, an increase of 310% from the previous session’s volume of 154,467 shares.The stock last traded at $4.89 and had previously closed at $4.83.

Analysts Set New Price Targets

EEX has been the subject of several research reports. Maxim Group reduced their price target 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. Rosenblatt Securities reduced their target price on shares of Emerald from $8.40 to $7.80 and set a “buy” rating for the company in a report on Thursday, October 31st.

Emerald Stock Down 0.2 %

The company’s fifty day moving average is $4.52 and its 200-day moving average is $5.25. The company has a market capitalization of $978.38 million, a PE ratio of -8.93 and a beta of 1.39. 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 announced a quarterly dividend, which was paid on Thursday, November 21st. Investors of record on Monday, November 11th were issued a $0.015 dividend. This represents a $0.06 annualized dividend and a yield of 1.24%. The ex-dividend date was Friday, November 8th. Emerald’s dividend payout ratio is -11.11%.

Institutional Investors Weigh In On Emerald

Hedge funds and other institutional investors have recently added to or reduced their stakes in the company. Vanguard Group Inc. raised its position in shares of Emerald by 0.5% during the first quarter. Vanguard Group Inc. now owns 1,113,221 shares of the company’s stock valued at $7,581,000 after buying an additional 5,184 shares during the last quarter. Geode Capital Management LLC raised its position in shares of Emerald by 1.2% during the third quarter. Geode Capital Management LLC now owns 391,404 shares of the company’s stock valued at $1,953,000 after buying an additional 4,760 shares during the last quarter. Jane Street Group LLC raised its position in shares of Emerald by 1,249.7% during the third quarter. Jane Street Group LLC now owns 352,566 shares of the company’s stock valued at $1,759,000 after buying an additional 326,445 shares during the last quarter. Dimensional Fund Advisors LP raised its position in shares of 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 buying an additional 2,624 shares during the last quarter. Finally, State Street Corp raised its position in shares of Emerald by 5.7% during the third quarter. State Street Corp now owns 235,640 shares of the company’s stock valued at $1,176,000 after buying an additional 12,622 shares during the last quarter. 14.90% of the stock is owned by hedge funds and other institutional investors.

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.