Emerald (NYSE:EEX) Trading 9.2% Higher – Still a Buy?

Emerald Holding, Inc. (NYSE:EEX)’s stock price traded up 9.2% during trading on Friday . The company traded as high as $3.98 and last traded at $3.99. 104,253 shares changed hands during mid-day trading, a decline of 39% from the average session volume of 171,630 shares. The stock had previously closed at $3.65.

Analyst Upgrades and Downgrades

Separately, Rosenblatt Securities reaffirmed a “buy” rating and set a $7.80 price objective on shares of Emerald in a report on Thursday.

Emerald Trading Up 11.4 %

The stock has a fifty day moving average of $4.37 and a two-hundred day moving average of $4.64. The company has a market capitalization of $825.54 million, a PE ratio of -7.53 and a beta of 1.31. The company has a current ratio of 1.27, a quick ratio of 1.27 and a debt-to-equity ratio of 1.02.

Emerald (NYSE:EEX) last posted its quarterly earnings results on Friday, March 14th. The company reported $0.03 EPS for the quarter, hitting the consensus estimate of $0.03. Emerald had a negative net margin of 5.29% and a negative return on equity of 13.26%. The firm had revenue of $106.80 million for the quarter, compared to the consensus estimate of $108.05 million.

Emerald Announces Dividend

The firm also recently declared 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 annualized dividend and a yield of 1.48%. Emerald’s payout ratio is -11.11%.

Institutional Inflows and Outflows

Large investors have recently modified their holdings of the stock. Raymond James Financial Inc. purchased a new position in Emerald in the 4th quarter worth approximately $2,970,000. MSD Partners L.P. bought a new position in shares of Emerald in the fourth quarter worth approximately $2,410,000. Bank of New York Mellon Corp increased its stake in shares of Emerald by 721.6% in the fourth quarter. Bank of New York Mellon Corp now owns 484,135 shares of the company’s stock worth $2,334,000 after buying an additional 425,207 shares during the period. Jane Street Group LLC raised its holdings in Emerald by 1,249.7% during the 3rd quarter. Jane Street Group LLC now owns 352,566 shares of the company’s stock valued at $1,759,000 after buying an additional 326,445 shares during the last quarter. Finally, Advisory Research Inc. boosted its position in Emerald by 15.4% during the 4th quarter. Advisory Research Inc. now owns 1,309,139 shares of the company’s stock valued at $6,310,000 after buying an additional 175,000 shares during the period. Hedge funds and other institutional investors 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.