Emerald (NYSE:EEX) Sees Strong Trading Volume – Time to Buy?

Shares of Emerald Holding, Inc. (NYSE:EEX) saw unusually-strong trading volume on Tuesday . Approximately 328,227 shares changed hands during mid-day trading, an increase of 257% from the previous session’s volume of 91,918 shares.The stock last traded at $5.0050 and had previously closed at $4.99.

More Emerald News

Here are the key news stories impacting Emerald this week:

• Positive Sentiment: Emerald announced it will be acquired by Apollo-managed funds in a cash transaction, with shareholders expected to receive about $5.03 per share, boosting takeover speculation and supporting the stock. Apollo Global Management to buy Emerald Holding, Questex in cash deals
• Positive Sentiment: Emerald declared a quarterly dividend of $0.015 per share, signaling continued shareholder returns ahead of the pending deal. Emerald Holding stock page
• Neutral Sentiment: Maxim Group reaffirmed a Hold rating on Emerald, indicating the stock may be fairly valued after the acquisition news. Emerald (NYSE:EEX) Given Hold Rating at Maxim Group
• Negative Sentiment: Emerald’s quarterly EPS came in below estimates, which could limit upside if investors focus on operating performance instead of the takeover premium. Emerald Holding earnings snapshot
• Negative Sentiment: Shareholder-lawyer investigations into whether the Apollo deal gives public holders a fair price may add uncertainty around the transaction process. HAREHOLDER ALERT investigation

Wall Street Analysts Forecast Growth

EEX has been the topic of several recent research reports. Weiss Ratings reiterated a “sell (d)” rating on shares of Emerald in a research report on Friday. Maxim Group restated a “hold” rating on shares of Emerald in a research note on Monday. Finally, Rosenblatt Securities reaffirmed a “buy” rating and set a $7.70 price objective on shares of Emerald in a report on Monday, March 16th. One research analyst has rated the stock with a Buy rating, one has given a Hold rating and one has issued a Sell rating to the stock. According to MarketBeat.com, the company presently has a consensus rating of “Hold” and an average price target of $7.70.

Emerald Stock Performance

The company has a quick ratio of 0.82, a current ratio of 0.82 and a debt-to-equity ratio of 1.47. The stock has a fifty day simple moving average of $4.57 and a 200-day simple moving average of $4.46. The company has a market capitalization of $990.54 million, a P/E ratio of -33.36 and a beta of 0.55.

Emerald (NYSE:EEX) last announced its earnings results on Monday, May 11th. The company reported $0.04 earnings per share (EPS) for the quarter, missing analysts’ consensus estimates of $0.11 by ($0.07). Emerald had a negative return on equity of 8.24% and a negative net margin of 6.62%.The firm had revenue of $155.40 million for the quarter, compared to analyst estimates of $152.20 million.

Emerald Announces Dividend

The company also recently announced a quarterly dividend, which will be paid on Monday, June 1st. Stockholders of record on Thursday, May 21st will be paid a $0.015 dividend. The ex-dividend date is Thursday, May 21st. This represents a $0.06 dividend on an annualized basis and a dividend yield of 1.2%. Emerald’s payout ratio is -40.00%.

Institutional Investors Weigh In On Emerald

A number of hedge funds and other institutional investors have recently bought and sold shares of the business. State of Alaska Department of Revenue acquired a new position in Emerald in the third quarter worth $31,000. Russell Investments Group Ltd. raised its holdings in shares of Emerald by 127.0% in the fourth quarter. Russell Investments Group Ltd. now owns 6,957 shares of the company’s stock valued at $31,000 after buying an additional 3,892 shares during the last quarter. Abel Hall LLC acquired a new position in Emerald during the 1st quarter worth about $48,000. Ritholtz Wealth Management acquired a new position in Emerald during the 4th quarter worth about $67,000. Finally, Wells Fargo & Company MN grew its holdings in Emerald by 79.0% during the 4th quarter. Wells Fargo & Company MN now owns 15,308 shares of the company’s stock worth $68,000 after acquiring an additional 6,756 shares during the last quarter. 14.90% of the stock is owned by institutional investors and hedge funds.

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.