Short Interest in Emerald Holding, Inc. (NYSE:EEX) Rises By 5.8%

Emerald Holding, Inc. (NYSE:EEX) was the recipient of a significant growth in short interest in the month of October. As of October 31st, there was short interest totalling 731,000 shares, a growth of 5.8% from the October 15th total of 690,700 shares. Based on an average daily volume of 275,300 shares, the short-interest ratio is presently 2.7 days.

Wall Street Analysts Forecast Growth

Several equities analysts recently weighed in on EEX shares. Maxim Group dropped their price target 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 cut their price objective 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 Price Performance

Shares of EEX remained flat at $4.75 during midday trading on Tuesday. 84,713 shares of the stock traded hands, compared to its average volume of 153,687. The company’s 50-day moving average is $4.61 and its 200 day moving average is $5.29. 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 has a 1-year low of $3.92 and a 1-year high of $7.05. The stock has a market capitalization of $964.16 million, a price-to-earnings ratio of -8.80 and a beta of 1.39.

Emerald Cuts Dividend

The firm also recently announced a quarterly dividend, which will be paid on Thursday, November 21st. Investors of record on Monday, November 11th will be paid a dividend of $0.015 per share. The ex-dividend date is Friday, November 8th. This represents a $0.06 annualized dividend and a yield of 1.26%. Emerald’s dividend payout ratio (DPR) is -11.11%.

Hedge Funds Weigh In On Emerald

A number of institutional investors have recently bought and sold shares of the business. Dimensional Fund Advisors LP increased its stake in shares of Emerald by 1.0% in 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 during the last quarter. Bank of New York Mellon Corp raised its position in 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 acquiring an additional 3,950 shares during the last quarter. Geode Capital Management LLC grew its stake in shares of Emerald by 1.2% during the 3rd quarter. Geode Capital Management LLC now owns 391,404 shares of the company’s stock valued at $1,953,000 after buying an additional 4,760 shares during the period. Vanguard Group Inc. boosted its stake in shares of Emerald by 0.5% in the first quarter. Vanguard Group Inc. now owns 1,113,221 shares of the company’s stock valued at $7,581,000 after purchasing an additional 5,184 shares during the period. Finally, SG Americas Securities LLC acquired a new stake in Emerald during the third quarter valued at approximately $53,000. 14.90% of the stock is owned by hedge funds and other institutional investors.

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.