Emerald Holding, Inc. (NYSE:EEX) Shares Bought by Contrarian Capital Management L.L.C.

Contrarian Capital Management L.L.C. increased its position in Emerald Holding, Inc. (NYSE:EEX) by 1.0% in the 4th quarter, Holdings Channel reports. The firm owned 790,885 shares of the company’s stock after buying an additional 7,878 shares during the period. Emerald makes up 1.3% of Contrarian Capital Management L.L.C.’s holdings, making the stock its 11th biggest holding. Contrarian Capital Management L.L.C.’s holdings in Emerald were worth $3,812,000 at the end of the most recent quarter.

Other hedge funds have also recently added to or reduced their stakes in the company. Bank of New York Mellon Corp boosted its holdings in shares of Emerald by 721.6% in the fourth quarter. Bank of New York Mellon Corp now owns 484,135 shares of the company’s stock valued at $2,334,000 after acquiring an additional 425,207 shares during the period. Raymond James Financial Inc. acquired a new stake in shares of Emerald during the fourth quarter worth $2,970,000. Jane Street Group LLC grew its position in Emerald by 1,249.7% in the 3rd quarter. Jane Street Group LLC now owns 352,566 shares of the company’s stock valued at $1,759,000 after buying an additional 326,445 shares during the last quarter. Geode Capital Management LLC raised its position in Emerald by 1.2% during the 3rd quarter. Geode Capital Management LLC now owns 391,404 shares of the company’s stock worth $1,953,000 after buying an additional 4,760 shares during the last quarter. Finally, State Street Corp lifted its stake in shares of Emerald by 5.7% in the 3rd quarter. State Street Corp now owns 235,640 shares of the company’s stock worth $1,176,000 after acquiring an additional 12,622 shares during the period. Hedge funds and other institutional investors own 14.90% of the company’s stock.

Analyst Ratings Changes

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

Emerald Price Performance

Emerald stock opened at $3.60 on Friday. The firm has a market capitalization of $719.17 million, a PE ratio of -6.66 and a beta of 0.84. Emerald Holding, Inc. has a 52 week low of $3.22 and a 52 week high of $6.74. The firm’s 50-day simple moving average is $3.94 and its 200 day simple moving average is $4.38. The company has a quick ratio of 1.27, a current ratio of 1.27 and a debt-to-equity ratio of 1.02.

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

Emerald Dividend Announcement

The firm also recently declared a quarterly dividend, which was paid on Thursday, March 20th. Shareholders of record on Monday, March 10th were paid a dividend of $0.015 per share. This represents a $0.06 dividend on an annualized basis and a dividend yield of 1.67%. The ex-dividend date was Monday, March 10th. Emerald’s dividend payout ratio is presently -120.00%.

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.