Emerald (NYSE:EEX) Shares Gap Down – What’s Next?

Emerald Holding, Inc. (NYSE:EEX) shares gapped down prior to trading on Monday . The stock had previously closed at $4.09, but opened at $3.99. Emerald shares last traded at $4.28, with a volume of 16,275 shares trading hands.

Analysts Set New Price Targets

Separately, Rosenblatt Securities reiterated a “buy” rating and issued a $7.80 price target on shares of Emerald in a report on Thursday.

Emerald Stock Performance

The stock’s 50 day moving average price is $4.37 and its 200 day moving average price is $4.63. The company has a current ratio of 1.27, a quick ratio of 1.27 and a debt-to-equity ratio of 1.02. The firm has a market cap of $894.14 million, a PE ratio of -8.16 and a beta of 1.31.

Emerald (NYSE:EEX) last issued its 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 net margin of 5.29% and a negative return on equity of 13.26%. The business had revenue of $106.80 million for the quarter, compared to the consensus estimate of $108.05 million.

Emerald Announces Dividend

The firm also recently announced a quarterly dividend, which will be paid on Thursday, March 20th. Stockholders of record on Monday, March 10th will be paid a $0.015 dividend. This represents a $0.06 dividend on an annualized basis and a dividend yield of 1.36%. The ex-dividend date of this dividend is Monday, March 10th. Emerald’s dividend payout ratio is presently -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. Copeland Capital Management LLC purchased a new stake in Emerald during the 4th quarter worth $57,000. Two Sigma Securities LLC purchased a new position in Emerald during the fourth quarter valued at approximately $62,000. Virtu Financial LLC purchased a new position in Emerald during the third quarter valued at approximately $67,000. XTX Topco Ltd bought a new stake in Emerald in the fourth quarter worth approximately $69,000. Finally, ExodusPoint Capital Management LP bought a new stake in Emerald in the fourth quarter worth approximately $72,000. 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.