Emerald (NYSE:EEX) Sees Unusually-High Trading Volume – Here’s Why

Emerald Holding, Inc. (NYSE:EEX) saw an uptick in trading volume on Tuesday . 116,825 shares traded hands during mid-day trading, a decline of 27% from the previous session’s volume of 159,038 shares.The stock last traded at $4.79 and had previously closed at $4.83.

Wall Street Analyst Weigh In

A number of equities research analysts have commented on EEX shares. Maxim Group dropped their price objective on shares of Emerald from $11.00 to $8.00 and set a “buy” rating on the stock in a research report on Thursday, October 31st. Rosenblatt Securities lowered their target price on shares of Emerald from $8.40 to $7.80 and set a “buy” rating for the company in a research note on Thursday, October 31st.

Emerald Stock Down 1.4 %

The firm has a 50-day moving average price of $4.66 and a two-hundred day moving average price of $5.11. The firm has a market cap of $966.20 million, a price-to-earnings ratio of -8.81 and a beta of 1.44. 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 Cuts Dividend

The business also recently disclosed a quarterly dividend, which was paid on Thursday, November 21st. Shareholders of record on Monday, November 11th were issued a dividend of $0.015 per share. The ex-dividend date was Friday, November 8th. This represents a $0.06 dividend on an annualized basis and a yield of 1.26%. Emerald’s payout ratio is currently -11.11%.

Institutional Inflows and Outflows

Several large investors have recently modified their holdings of EEX. Dimensional Fund Advisors LP raised its stake in Emerald by 1.0% during the 2nd quarter. Dimensional Fund Advisors LP now owns 269,034 shares of the company’s stock worth $1,531,000 after acquiring an additional 2,624 shares in the last quarter. Bank of New York Mellon Corp grew its holdings in shares of Emerald by 5.9% during the second quarter. Bank of New York Mellon Corp now owns 70,486 shares of the company’s stock worth $401,000 after purchasing an additional 3,950 shares during the last quarter. Geode Capital Management LLC increased its position in shares of 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 purchasing an additional 4,760 shares in the last quarter. SG Americas Securities LLC purchased a new stake in shares of Emerald in the 3rd quarter valued at about $53,000. Finally, State Street Corp boosted its position 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 period. Institutional investors and hedge funds 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.