Emerald (NYSE:EEX) Sees Large Volume Increase – What’s Next?

Emerald Holding, Inc. (NYSE:EEX) saw unusually-high trading volume on Tuesday . Approximately 173,884 shares traded hands during trading, an increase of 6% from the previous session’s volume of 164,348 shares.The stock last traded at $5.0050 and had previously closed at $4.99.

Wall Street Analysts Forecast Growth

EEX has been the subject of a number of recent analyst reports. Maxim Group downgraded Emerald from a “buy” rating to a “hold” rating in a report on Monday, May 11th. Weiss Ratings raised Emerald from a “sell (d)” rating to a “sell (d+)” rating in a report on Tuesday, June 2nd. Finally, Rosenblatt Securities reissued a “neutral” rating and issued a $5.03 target price (down from $7.70) on shares of Emerald in a report on Tuesday, May 12th. Two investment analysts have rated the stock with a Hold rating and one has given a Sell rating to the stock. According to data from MarketBeat, the stock currently has an average rating of “Reduce” and a consensus price target of $5.03.

Emerald Price Performance

The stock has a market cap of $992.52 million, a price-to-earnings ratio of -26.39 and a beta of 0.57. The company has a 50-day moving average of $4.81 and a 200-day moving average of $4.56. The company has a debt-to-equity ratio of 1.47, a quick ratio of 0.91 and a current ratio of 0.91.

Emerald (NYSE:EEX) last issued its quarterly earnings results on Monday, May 11th. The company reported $0.04 earnings per share (EPS) for the quarter, missing the consensus estimate of $0.10 by ($0.06). The company had revenue of $155.40 million during the quarter, compared to analyst estimates of $155.40 million. Emerald had a negative net margin of 8.24% and a negative return on equity of 10.81%.

Emerald Dividend Announcement

The business also recently declared a quarterly dividend, which was paid on Monday, June 1st. Investors of record on Thursday, May 21st were given a $0.015 dividend. This represents a $0.06 annualized dividend and a yield of 1.2%. The ex-dividend date was Thursday, May 21st. Emerald’s payout ratio is -31.58%.

Hedge Funds Weigh In On Emerald

Several institutional investors have recently added to or reduced their stakes in the stock. Sei Investments Co. increased its position in Emerald by 100.0% during the 1st quarter. Sei Investments Co. now owns 37,200 shares of the company’s stock worth $168,000 after purchasing an additional 18,600 shares during the period. Abel Hall LLC acquired a new position in Emerald during the 1st quarter worth approximately $48,000. Inspire Investing LLC increased its position in Emerald by 3.6% during the 1st quarter. Inspire Investing LLC now owns 110,725 shares of the company’s stock worth $499,000 after purchasing an additional 3,857 shares during the period. Ritholtz Wealth Management increased its position in Emerald by 37.4% during the 1st quarter. Ritholtz Wealth Management now owns 20,595 shares of the company’s stock worth $93,000 after purchasing an additional 5,603 shares during the period. Finally, MSD Partners L.P. increased its position in Emerald by 31.3% during the 4th quarter. MSD Partners L.P. now owns 1,400,339 shares of the company’s stock worth $6,260,000 after purchasing an additional 333,701 shares during the period. Institutional investors and hedge funds own 14.90% of the company’s stock.

Emerald Company Profile

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.