Cannell Capital LLC Increases Stake in Emerald Holding, Inc. (NYSE:EEX)

Cannell Capital LLC boosted its holdings in Emerald Holding, Inc. (NYSE:EEX) by 5.0% in the 4th quarter, according to its most recent Form 13F filing with the Securities & Exchange Commission. The fund owned 2,181,027 shares of the company’s stock after purchasing an additional 104,299 shares during the period. Emerald makes up 2.2% of Cannell Capital LLC’s portfolio, making the stock its 19th largest position. Cannell Capital LLC’s holdings in Emerald were worth $10,513,000 as of its most recent SEC filing.

Other institutional investors have also added to or reduced their stakes in the company. Geode Capital Management LLC increased its holdings in shares of Emerald by 0.9% in the fourth quarter. Geode Capital Management LLC now owns 394,834 shares of the company’s stock worth $1,903,000 after buying an additional 3,430 shares during the period. Copeland Capital Management LLC bought a new position in Emerald during the 4th quarter worth approximately $57,000. State Street Corp lifted its position in Emerald by 5.7% in the third quarter. State Street Corp now owns 235,640 shares of the company’s stock valued at $1,176,000 after purchasing an additional 12,622 shares during the last quarter. Virtu Financial LLC bought a new stake in Emerald in the third quarter valued at approximately $67,000. Finally, Barclays PLC boosted its stake in shares of Emerald by 184.2% during the third quarter. Barclays PLC now owns 21,977 shares of the company’s stock valued at $109,000 after purchasing an additional 14,244 shares during the period. 14.90% of the stock is currently owned by hedge funds and other institutional investors.

Emerald Stock Performance

Emerald stock opened at $3.47 on Tuesday. Emerald Holding, Inc. has a 1-year low of $3.42 and a 1-year high of $6.74. The firm has a market cap of $693.16 million, a P/E ratio of -6.42 and a beta of 0.84. The company has a current ratio of 1.27, a quick ratio of 1.27 and a debt-to-equity ratio of 1.02. The firm has a 50-day moving average of $4.14 and a 200-day moving average of $4.46.

Emerald (NYSE:EEX) last released its quarterly earnings data on Friday, March 14th. The company reported $0.03 earnings per share for the quarter, hitting the consensus estimate of $0.03. Emerald had a negative return on equity of 13.26% and a negative net margin of 5.29%. The business had revenue of $106.80 million during the quarter, compared to analysts’ expectations of $108.05 million.

Emerald Announces Dividend

The business also recently disclosed a quarterly dividend, which was paid on Thursday, March 20th. Shareholders of record on Monday, March 10th were given a dividend of $0.015 per share. This represents a $0.06 dividend on an annualized basis and a yield of 1.73%. The ex-dividend date was Monday, March 10th. Emerald’s payout ratio is currently -120.00%.

Wall Street Analyst Weigh In

Separately, Rosenblatt Securities reiterated a “buy” rating and set a $7.80 price target on shares of Emerald in a report on Thursday, March 13th.

Emerald Company Profile

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.