Emerald (NYSE:EEX) Shares Down 0% – Here’s Why

Shares of Emerald Holding, Inc. (NYSE:EEX) traded down 0% during mid-day trading on Friday . The stock traded as low as $5.02 and last traded at $5.0390. 220,030 shares changed hands during trading, an increase of 204% from the average session volume of 72,348 shares. The stock had previously closed at $5.04.

Analysts Set New Price Targets

Several research firms recently commented on EEX. Maxim Group downgraded Emerald from a “buy” rating to a “hold” rating in a research note on Monday, May 11th. Rosenblatt Securities reissued a “neutral” rating and issued a $5.03 target price (down from $7.70) on shares of Emerald in a research report on Tuesday, May 12th. Finally, Weiss Ratings upgraded Emerald from a “sell (d)” rating to a “sell (d+)” rating in a research note on Tuesday, June 2nd. Two investment analysts have rated the stock with a Hold rating and one has given a Sell rating to the stock. According to data from MarketBeat.com, the company currently has an average rating of “Reduce” and a consensus price target of $5.03.

Emerald Price Performance

The stock has a market cap of $997.26 million, a PE ratio of -26.52 and a beta of 0.57. The company has a debt-to-equity ratio of 1.47, a current ratio of 0.91 and a quick ratio of 0.91. The firm’s 50 day moving average price is $5.01 and its two-hundred day moving average price is $4.78.

Emerald (NYSE:EEX) last announced its quarterly earnings results on Monday, May 11th. The company reported $0.04 EPS for the quarter, missing analysts’ consensus estimates of $0.10 by ($0.06). Emerald had a negative net margin of 8.24% and a negative return on equity of 10.81%. The business had revenue of $155.40 million for the quarter, compared to analysts’ expectations of $155.40 million.

Emerald Dividend Announcement

The business also recently declared a quarterly dividend, which was paid on Monday, June 1st. Stockholders of record on Thursday, May 21st were issued a $0.015 dividend. This represents a $0.06 dividend on an annualized basis and a dividend yield of 1.2%. The ex-dividend date of this dividend was Thursday, May 21st. Emerald’s dividend payout ratio (DPR) is presently -31.58%.

Hedge Funds Weigh In On Emerald

Several hedge funds have recently made changes to their positions in EEX. Russell Investments Group Ltd. boosted its stake in Emerald by 127.0% in the 4th quarter. Russell Investments Group Ltd. now owns 6,957 shares of the company’s stock worth $31,000 after purchasing an additional 3,892 shares during the period. Abel Hall LLC purchased a new stake in shares of Emerald in the first quarter worth about $48,000. Ritholtz Wealth Management purchased a new stake in shares of Emerald in the fourth quarter worth about $67,000. Wells Fargo & Company MN boosted its position in shares of Emerald by 79.0% in the fourth quarter. Wells Fargo & Company MN now owns 15,308 shares of the company’s stock valued at $68,000 after acquiring an additional 6,756 shares during the period. Finally, Cubist Systematic Strategies LLC bought a new position in shares of Emerald in the first quarter valued at approximately $116,000. 14.90% of the stock is currently owned by hedge funds and other institutional investors.

Emerald Company Profile

Emerald (NYSE: EEX) is a global provider of independent data, news and analytics for commodity, financial and energy markets. The company operates digital platforms that deliver real-time and historical price assessments, market commentary, research reports and risk-management tools. Its subscriber base spans traders, asset managers, corporate hedgers and financial institutions seeking timely intelligence to support trading, risk management and investment decisions.

Serving clients across North America, Europe and Asia-Pacific, Emerald covers a broad range of markets including metals, energy products, agriculture, freight, environmental emissions and treasury benchmarks.