Emerald (NYSE:EEX) Shares Up 3.5% – Here’s What Happened

Emerald Holding, Inc. (NYSE:EEX)’s stock price traded up 3.5% on Wednesday . The stock traded as high as $4.40 and last traded at $4.46. 4,885 shares changed hands during mid-day trading, a decline of 95% from the average session volume of 96,549 shares. The stock had previously closed at $4.31.

Analyst Ratings Changes

A number of brokerages have weighed in on EEX. Wall Street Zen lowered Emerald from a “buy” rating to a “hold” rating in a report on Saturday, November 8th. Rosenblatt Securities reaffirmed a “buy” rating and set a $7.70 price objective on shares of Emerald in a report on Wednesday, December 17th. Finally, Weiss Ratings reissued a “sell (d+)” rating on shares of Emerald in a report on Monday. One investment analyst has rated the stock with a Buy rating and one has assigned a Sell rating to the stock. According to data from MarketBeat.com, the company currently has a consensus rating of “Hold” and a consensus target price of $7.70.

Emerald Trading Up 1.4%

The business has a fifty day moving average of $4.12 and a two-hundred day moving average of $4.69. The firm has a market cap of $864.42 million, a price-to-earnings ratio of 145.72 and a beta of 0.77. The company has a debt-to-equity ratio of 1.35, a quick ratio of 0.81 and a current ratio of 0.81.

Emerald (NYSE:EEX) last posted its earnings results on Friday, October 31st. The company reported ($0.07) earnings per share for the quarter, missing the consensus estimate of ($0.04) by ($0.03). The firm had revenue of $77.50 million during the quarter, compared to analyst estimates of $76.80 million. Emerald had a net margin of 1.05% and a return on equity of 1.20%.

Emerald Announces Dividend

The firm also recently declared a quarterly dividend, which was paid on Thursday, November 20th. Stockholders of record on Monday, November 10th were given a $0.015 dividend. The ex-dividend date was Monday, November 10th. This represents a $0.06 annualized dividend and a dividend yield of 1.4%. Emerald’s dividend payout ratio is currently 200.00%.

Hedge Funds Weigh In On Emerald

Several hedge funds have recently bought and sold shares of the stock. Copeland Capital Management LLC boosted its stake in shares of Emerald by 16.4% during the second quarter. Copeland Capital Management LLC now owns 19,328 shares of the company’s stock valued at $94,000 after acquiring an additional 2,718 shares during the last quarter. Hsbc Holdings PLC lifted its holdings in Emerald by 12.3% in the 1st quarter. Hsbc Holdings PLC now owns 39,818 shares of the company’s stock valued at $153,000 after purchasing an additional 4,351 shares in the last quarter. Jane Street Group LLC lifted its holdings in Emerald by 18.1% in the 2nd quarter. Jane Street Group LLC now owns 33,350 shares of the company’s stock valued at $162,000 after purchasing an additional 5,113 shares in the last quarter. State of Alaska Department of Revenue acquired a new stake in shares of Emerald during the 3rd quarter worth about $31,000. Finally, Police & Firemen s Retirement System of New Jersey purchased a new stake in shares of Emerald during the second quarter worth about $33,000. Hedge funds and other institutional investors own 14.90% of the company’s stock.

About Emerald

Emerald (NYSE: EEX) is a global provider of independent data, news and analytics for commodity, financial and energy markets. The company operates digital platforms that deliver real-time and historical price assessments, market commentary, research reports and risk-management tools. Its subscriber base spans traders, asset managers, corporate hedgers and financial institutions seeking timely intelligence to support trading, risk management and investment decisions.

Serving clients across North America, Europe and Asia-Pacific, Emerald covers a broad range of markets including metals, energy products, agriculture, freight, environmental emissions and treasury benchmarks.