Emerald (NYSE:EEX) Shares Gap Down – What’s Next?

Emerald Holding, Inc. (NYSE:EEX) shares gapped down before the market opened on Monday . The stock had previously closed at $4.09, but opened at $3.99. Emerald shares last traded at $4.28, with a volume of 16,275 shares changing hands.

Wall Street Analysts Forecast Growth

Separately, Rosenblatt Securities restated a “buy” rating and set a $7.80 price target on shares of Emerald in a research report on Thursday, March 13th.

Emerald Price Performance

The company has a quick ratio of 1.27, a current ratio of 1.27 and a debt-to-equity ratio of 1.02. The stock has a market cap of $876.89 million, a P/E ratio of -8.00 and a beta of 1.31. The business’s 50-day simple moving average is $4.36 and its two-hundred day simple moving average is $4.62.

Emerald (NYSE:EEX) last issued its earnings results on Friday, March 14th. The company reported $0.03 earnings per share for the quarter, hitting analysts’ consensus estimates of $0.03. The firm had revenue of $106.80 million during the quarter, compared to analyst estimates of $108.05 million. Emerald had a negative net margin of 5.29% and a negative return on equity of 13.26%.

Emerald Announces Dividend

The firm also recently announced a quarterly dividend, which will be paid on Thursday, March 20th. Shareholders of record on Monday, March 10th will be given a dividend of $0.015 per share. The ex-dividend date of this dividend is Monday, March 10th. This represents a $0.06 dividend on an annualized basis and a yield of 1.39%. Emerald’s dividend payout ratio is presently -120.00%.

Institutional Investors Weigh In On Emerald

Institutional investors and hedge funds have recently modified their holdings of the company. Jane Street Group LLC lifted its holdings in shares of Emerald by 1,249.7% in the third 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 in the last quarter. Geode Capital Management LLC grew its position in Emerald by 1.2% during the third quarter. Geode Capital Management LLC now owns 391,404 shares of the company’s stock valued at $1,953,000 after acquiring an additional 4,760 shares during 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. Charles Schwab Investment Management Inc. grew its position in Emerald by 247.4% during the third quarter. Charles Schwab Investment Management Inc. now owns 148,201 shares of the company’s stock valued at $740,000 after acquiring an additional 105,535 shares during the last quarter. Finally, Barclays PLC grew its position in Emerald by 184.2% during the third quarter. Barclays PLC now owns 21,977 shares of the company’s stock valued at $109,000 after acquiring an additional 14,244 shares during the last quarter. 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.