Emerald (NYSE:EEX) Hits New 52-Week Low – Should You Sell?

Emerald Holding, Inc. (NYSE:EEX) shares reached a new 52-week low during trading on Wednesday . The stock traded as low as $3.68 and last traded at $3.71, with a volume of 106601 shares trading hands. The stock had previously closed at $3.84.

Analyst Ratings Changes

Separately, Rosenblatt Securities reaffirmed a “buy” rating and set a $7.80 price objective on shares of Emerald in a research note on Thursday.

Emerald Stock Performance

The stock’s fifty day simple moving average is $4.41 and its two-hundred day simple moving average is $4.66. The company has a market cap of $744.95 million, a price-to-earnings ratio of -6.80 and a beta of 1.31. 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 Announces Dividend

The company also recently announced a quarterly dividend, which will be paid on Thursday, March 20th. Investors of record on Monday, March 10th will be issued a $0.015 dividend. This represents a $0.06 dividend on an annualized basis and a yield of 1.63%. The ex-dividend date of this dividend is Monday, March 10th. Emerald’s payout ratio is currently -11.11%.

Institutional Investors Weigh In On Emerald

Institutional investors and hedge funds have recently added to or reduced their stakes in the company. Geode Capital Management LLC grew its holdings in shares of Emerald by 0.9% during the 4th quarter. Geode Capital Management LLC now owns 394,834 shares of the company’s stock worth $1,903,000 after purchasing an additional 3,430 shares during the period. First Manhattan CO. LLC. lifted its position in Emerald by 16.4% during the fourth quarter. First Manhattan CO. LLC. now owns 25,338 shares of the company’s stock valued at $122,000 after buying an additional 3,575 shares in the last quarter. Hsbc Holdings PLC lifted its position in Emerald by 25.5% during the fourth quarter. Hsbc Holdings PLC now owns 35,467 shares of the company’s stock valued at $172,000 after buying an additional 7,208 shares in the last quarter. Contrarian Capital Management L.L.C. grew its stake in Emerald by 1.0% during the fourth quarter. Contrarian Capital Management L.L.C. now owns 790,885 shares of the company’s stock worth $3,812,000 after buying an additional 7,878 shares during the period. Finally, Copeland Capital Management LLC acquired a new stake in shares of Emerald in the fourth quarter worth $57,000. 14.90% of the stock is currently owned by institutional investors and hedge funds.

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.