Emerald Holding, Inc. (NYSE:EEX) Sees Significant Decline in Short Interest

Emerald Holding, Inc. (NYSE:EEX) was the target of a large decline in short interest in March. As of March 31st, there was short interest totalling 248,600 shares, a decline of 10.7% from the March 15th total of 278,300 shares. Based on an average trading volume of 49,700 shares, the days-to-cover ratio is presently 5.0 days. Approximately 1.7% of the shares of the stock are short sold.

Analyst Ratings Changes

Separately, Rosenblatt Securities reduced their price target on shares of Emerald from $8.40 to $8.20 and set a “buy” rating on the stock in a research report on Friday, March 1st.

Institutional Investors Weigh In On Emerald

A number of institutional investors and hedge funds have recently modified their holdings of the business. Cannell Capital LLC increased its stake in shares of Emerald by 508.6% in the 3rd quarter. Cannell Capital LLC now owns 912,207 shares of the company’s stock valued at $4,123,000 after acquiring an additional 762,310 shares during the last quarter. BlackRock Inc. increased its stake in Emerald by 120.1% in the second quarter. BlackRock Inc. now owns 1,113,586 shares of the company’s stock valued at $4,566,000 after purchasing an additional 607,717 shares in the last quarter. Millennium Management LLC raised its holdings in Emerald by 428.2% in the second quarter. Millennium Management LLC now owns 536,132 shares of the company’s stock worth $2,182,000 after purchasing an additional 434,636 shares during the period. Geode Capital Management LLC boosted its position in shares of Emerald by 74.3% during the second quarter. Geode Capital Management LLC now owns 364,565 shares of the company’s stock worth $1,495,000 after purchasing an additional 155,401 shares in the last quarter. Finally, Northern Trust Corp grew its holdings in shares of Emerald by 178.7% in the 2nd quarter. Northern Trust Corp now owns 159,431 shares of the company’s stock valued at $654,000 after buying an additional 102,226 shares during the period. 14.90% of the stock is owned by institutional investors.

Emerald Price Performance

EEX stock opened at $6.35 on Wednesday. The stock has a market capitalization of $400.37 million, a PE ratio of -8.04 and a beta of 1.37. The company has a 50 day moving average price of $6.29 and a 200 day moving average price of $5.78. Emerald has a fifty-two week low of $3.27 and a fifty-two week high of $7.05.

Emerald (NYSE:EEX) last issued its quarterly earnings results on Thursday, February 29th. The company reported ($0.46) earnings per share (EPS) for the quarter. The firm had revenue of $101.50 million for the quarter. Emerald had a negative net margin of 2.14% and a negative return on equity of 59.12%.

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.