Emerald (NYSE:EEX) Sees Strong Trading Volume – Here’s What Happened

Emerald Holding, Inc. (NYSE:EEX) saw unusually-high trading volume on Tuesday . Approximately 173,884 shares were traded 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

Several equities research analysts recently issued reports on EEX shares. Weiss Ratings raised Emerald from a “sell (d)” rating to a “sell (d+)” rating in a research report on Tuesday, June 2nd. Maxim Group lowered Emerald from a “buy” rating to a “hold” rating in a research report on Monday, May 11th. Finally, Rosenblatt Securities reissued a “neutral” rating and set a $5.03 price target (down from $7.70) on shares of Emerald in a research 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 company. According to MarketBeat, the stock presently has an average rating of “Reduce” and a consensus price target of $5.03.

Emerald Price Performance

The company has a market capitalization of $994.49 million, a price-to-earnings ratio of -26.45 and a beta of 0.57. The company has a debt-to-equity ratio of 1.47, a current ratio of 0.91 and a quick ratio of 0.91. The business has a fifty day moving average price of $4.82 and a 200 day moving average price of $4.58.

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

Emerald Dividend Announcement

The firm also recently disclosed a quarterly dividend, which was paid on Monday, June 1st. Shareholders of record on Thursday, May 21st were given a dividend of $0.015 per share. The ex-dividend date was Thursday, May 21st. This represents a $0.06 dividend on an annualized basis and a yield of 1.2%. Emerald’s dividend payout ratio (DPR) is presently -31.58%.

Institutional Investors Weigh In On Emerald

Hedge funds and other institutional investors have recently made changes to their positions in the company. Sei Investments Co. raised its stake in shares of Emerald by 100.0% in the 1st quarter. Sei Investments Co. now owns 37,200 shares of the company’s stock valued at $168,000 after acquiring an additional 18,600 shares in the last quarter. Abel Hall LLC bought a new position in Emerald in the 1st quarter worth approximately $48,000. Inspire Investing LLC grew its holdings in shares of 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 in the last quarter. Ritholtz Wealth Management grew its holdings in shares of 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 in the last quarter. Finally, MSD Partners L.P. grew its holdings in shares of 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 in the last quarter. 14.90% of the stock is owned by hedge funds and other institutional investors.

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.