Emerald (NYSE:EEX) Shares Gap Up – Here’s What Happened

Emerald Holding, Inc. (NYSE:EEX) gapped up before the market opened on Monday . The stock had previously closed at $3.73, but opened at $3.94. Emerald shares last traded at $3.9450, with a volume of 512 shares traded.

Analysts Set New Price Targets

A number of brokerages have weighed in on EEX. Wall Street Zen lowered Emerald from a “buy” rating to a “hold” rating in a research note on Saturday, November 8th. Rosenblatt Securities lowered their price target on Emerald from $7.90 to $7.70 and set a “buy” rating for the company in a report on Monday, November 3rd. Finally, Weiss Ratings downgraded shares of Emerald from a “hold (c-)” rating to a “sell (d+)” rating in a report on Friday, October 24th. One analyst has rated the stock with a Buy rating and one has given a Sell rating to the stock. According to data from MarketBeat.com, the stock presently has a consensus rating of “Hold” and an average target price of $7.70.

Emerald Stock Down 5.3%

The company has a debt-to-equity ratio of 1.35, a current ratio of 0.81 and a quick ratio of 0.81. The stock has a market capitalization of $739.80 million, a P/E ratio of 124.37 and a beta of 1.17. The stock’s fifty day moving average is $4.60 and its two-hundred day moving average is $4.80.

Emerald (NYSE:EEX) last announced its quarterly earnings data on Friday, October 31st. The company reported ($0.07) EPS for the quarter, missing analysts’ consensus estimates of ($0.04) by ($0.03). The company had revenue of $77.50 million for the quarter, compared to analyst estimates of $76.80 million. Emerald had a net margin of 1.05% and a return on equity of 1.20%. Emerald has set its FY 2025 guidance at EPS.

Emerald Dividend Announcement

The company also recently announced a quarterly dividend, which was paid on Thursday, November 20th. Stockholders of record on Monday, November 10th were given a $0.015 dividend. This represents a $0.06 annualized dividend and a dividend yield of 1.6%. The ex-dividend date of this dividend was Monday, November 10th. Emerald’s dividend payout ratio (DPR) is 200.00%.

Institutional Investors Weigh In On Emerald

Several hedge funds have recently bought and sold shares of the business. Citadel Advisors LLC grew its stake in Emerald by 197.6% during the 3rd quarter. Citadel Advisors LLC now owns 92,276 shares of the company’s stock valued at $470,000 after acquiring an additional 61,273 shares in the last quarter. Squarepoint Ops LLC boosted its holdings in shares of Emerald by 26.0% during the third quarter. Squarepoint Ops LLC now owns 47,364 shares of the company’s stock worth $241,000 after purchasing an additional 9,787 shares during the period. Contrarian Capital Management L.L.C. grew its position in Emerald by 12.1% during the third quarter. Contrarian Capital Management L.L.C. now owns 879,000 shares of the company’s stock valued at $4,474,000 after purchasing an additional 95,138 shares in the last quarter. State of Alaska Department of Revenue acquired a new position in Emerald in the 3rd quarter valued at approximately $31,000. Finally, Inspire Investing LLC boosted its stake in shares of Emerald by 13.6% during the 3rd quarter. Inspire Investing LLC now owns 90,067 shares of the company’s stock valued at $458,000 after buying an additional 10,763 shares during the period. 14.90% of the stock is owned by hedge funds and other institutional investors.

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.