Emerald Expositions Events (EEX) Stock Rating Lowered by Goldman Sachs Group
Emerald Expositions Events (NYSE:EEX) was downgraded by Goldman Sachs Group from a “neutral” rating to a “sell” rating in a note issued to investors on Tuesday, The Fly reports.
EEX has been the subject of several other reports. Robert W. Baird raised their target price on Emerald Expositions Events from $23.00 to $24.00 and gave the stock a “neutral” rating in a research report on Friday, November 3rd. Zacks Investment Research cut Emerald Expositions Events from a “hold” rating to a “strong sell” rating in a report on Tuesday, November 7th. One investment analyst has rated the stock with a sell rating, two have assigned a hold rating and six have issued a buy rating to the company. The company has a consensus rating of “Buy” and an average target price of $24.36.
Emerald Expositions Events (NYSE EEX) opened at $22.08 on Tuesday. Emerald Expositions Events has a 12-month low of $18.67 and a 12-month high of $24.56. The company has a quick ratio of 0.63, a current ratio of 0.63 and a debt-to-equity ratio of 0.76.
In related news, insider William Charles sold 17,675 shares of Emerald Expositions Events stock in a transaction dated Thursday, November 30th. The stock was sold at an average price of $22.28, for a total value of $393,799.00. The transaction was disclosed in a legal filing with the Securities & Exchange Commission, which can be accessed through this link. Also, CEO David Loechner sold 53,139 shares of Emerald Expositions Events stock in a transaction dated Monday, December 4th. The shares were sold at an average price of $22.34, for a total value of $1,187,125.26. The disclosure for this sale can be found here. Over the last three months, insiders have sold 235,883 shares of company stock valued at $5,039,458.
Several institutional investors have recently added to or reduced their stakes in the stock. FMR LLC bought a new position in shares of Emerald Expositions Events in the second quarter valued at about $148,827,000. Kayne Anderson Rudnick Investment Management LLC raised its holdings in shares of Emerald Expositions Events by 1,879.4% in the third quarter. Kayne Anderson Rudnick Investment Management LLC now owns 2,238,144 shares of the company’s stock valued at $52,014,000 after buying an additional 2,125,071 shares during the last quarter. JPMorgan Chase & Co. raised its holdings in shares of Emerald Expositions Events by 12.8% in the third quarter. JPMorgan Chase & Co. now owns 1,661,574 shares of the company’s stock valued at $38,748,000 after buying an additional 189,166 shares during the last quarter. Vanguard Group Inc. bought a new position in shares of Emerald Expositions Events in the second quarter valued at about $27,309,000. Finally, Bamco Inc. NY raised its holdings in shares of Emerald Expositions Events by 7.5% in the third quarter. Bamco Inc. NY now owns 1,075,000 shares of the company’s stock valued at $24,983,000 after buying an additional 75,000 shares during the last quarter. 26.61% of the stock is owned by institutional investors and hedge funds.
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Emerald Expositions Events Company Profile
Emerald Expositions Events, Inc (Emerald), formerly Expo Event Holdco, Inc, is an operator of business-to-business (B2B) trade shows. The Company operates across multiple sectors, which includes: Gift, Home and General Merchandise; Sports; Design and Construction; Technology; Jewelry; Other Trade Shows; and Other Events.
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