Ritholtz Wealth Management Sells 10,655 Shares of Emerald Holding, Inc. (NYSE:EEX)

Ritholtz Wealth Management cut its stake in Emerald Holding, Inc. (NYSE:EEX) by 44.0% in the 4th quarter, according to its most recent disclosure with the SEC. The institutional investor owned 13,535 shares of the company’s stock after selling 10,655 shares during the period. Ritholtz Wealth Management’s holdings in Emerald were worth $65,000 as of its most recent SEC filing.

Other institutional investors have also added to or reduced their stakes in the company. Geode Capital Management LLC boosted its holdings in shares of Emerald by 1.2% in the 3rd 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. Jane Street Group LLC lifted its position in Emerald by 1,249.7% in the 3rd quarter. Jane Street Group LLC now owns 352,566 shares of the company’s stock worth $1,759,000 after buying an additional 326,445 shares during the last quarter. Dimensional Fund Advisors LP boosted its stake in Emerald by 1.0% in the second quarter. Dimensional Fund Advisors LP now owns 269,034 shares of the company’s stock worth $1,531,000 after buying an additional 2,624 shares in the last quarter. State Street Corp grew its position in Emerald by 5.7% during the third quarter. State Street Corp now owns 235,640 shares of the company’s stock valued at $1,176,000 after acquiring an additional 12,622 shares during the last quarter. Finally, Renaissance Technologies LLC grew its position in Emerald by 9.0% during the second quarter. Renaissance Technologies LLC now owns 195,357 shares of the company’s stock valued at $1,112,000 after acquiring an additional 16,200 shares during the last quarter. Institutional investors own 14.90% of the company’s stock.

Emerald Price Performance

EEX opened at $4.48 on Thursday. The company has a debt-to-equity ratio of 1.02, a current ratio of 1.27 and a quick ratio of 1.27. The stock’s 50 day simple moving average is $4.78 and its 200 day simple moving average is $4.93. The firm has a market cap of $910.16 million, a price-to-earnings ratio of -8.30 and a beta of 1.44. Emerald Holding, Inc. has a 1 year low of $3.92 and a 1 year high of $7.05.

Emerald (NYSE:EEX) last issued its earnings results on Wednesday, October 30th. The company reported ($0.05) earnings per share (EPS) for the quarter. Emerald had a negative return on equity of 13.26% and a negative net margin of 5.29%. The firm had revenue of $72.60 million during the quarter.

Emerald Cuts Dividend

The company also recently disclosed a quarterly dividend, which was paid on Thursday, November 21st. Shareholders of record on Monday, November 11th were given a $0.015 dividend. This represents a $0.06 dividend on an annualized basis and a dividend yield of 1.34%. The ex-dividend date of this dividend was Friday, November 8th. Emerald’s payout ratio is -11.11%.

Analyst Upgrades and Downgrades

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