Emerald (NYSE:EEX) Stock Price Up 6.2% – Still a Buy?

Emerald Holding, Inc. (NYSE:EEX) shares shot up 6.2% during mid-day trading on Friday . The company traded as high as $5.15 and last traded at $5.12. 18,637 shares were traded during trading, a decline of 88% from the average session volume of 154,183 shares. The stock had previously closed at $4.82.

Wall Street Analyst Weigh In

Several equities analysts have recently commented on EEX shares. Rosenblatt Securities lowered their target price on shares of Emerald from $8.40 to $7.80 and set a “buy” rating on the stock in a report on Thursday, October 31st. Maxim Group reduced their price target on shares of Emerald from $11.00 to $8.00 and set a “buy” rating on the stock in a report on Thursday, October 31st.

Emerald Stock Performance

The company has a market capitalization of $1.02 billion, a P/E ratio of -9.48 and a beta of 1.39. The business has a 50 day moving average of $4.53 and a 200 day moving average of $5.24. The company has a quick ratio of 1.27, a current ratio of 1.27 and a debt-to-equity ratio of 1.02.

Emerald Cuts Dividend

The firm 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 dividend on an annualized basis and a dividend yield of 1.19%. The ex-dividend date of this dividend was Friday, November 8th. Emerald’s dividend payout ratio (DPR) is presently -11.11%.

Institutional Investors Weigh In On Emerald

A number of hedge funds have recently bought and sold shares of EEX. Vanguard Group Inc. increased its holdings in shares of Emerald by 0.5% in the 1st quarter. Vanguard Group Inc. now owns 1,113,221 shares of the company’s stock worth $7,581,000 after buying an additional 5,184 shares during the last quarter. Geode Capital Management LLC increased its stake in Emerald by 1.2% during 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 during the last quarter. Jane Street Group LLC raised its position in 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 purchasing an additional 326,445 shares during the period. Dimensional Fund Advisors LP raised its position in 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 purchasing an additional 2,624 shares during the period. Finally, State Street Corp lifted its stake in shares of Emerald by 5.7% in the 3rd quarter. State Street Corp now owns 235,640 shares of the company’s stock valued at $1,176,000 after purchasing an additional 12,622 shares during the last quarter. Hedge funds and other institutional investors own 14.90% of the company’s stock.

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.