Emerald (NYSE:EEX) Given New $7.80 Price Target at Rosenblatt Securities

Emerald (NYSE:EEX) had its target price reduced by Rosenblatt Securities from $8.40 to $7.80 in a report published on Thursday morning, Benzinga reports. Rosenblatt Securities currently has a buy rating on the stock.

Emerald Stock Performance

Shares of EEX opened at $3.95 on Thursday. The company has a current ratio of 1.34, a quick ratio of 1.34 and a debt-to-equity ratio of 0.98. The stock has a 50-day moving average price of $4.88 and a 200-day moving average price of $5.43. Emerald has a 12-month low of $3.92 and a 12-month high of $7.05.

Emerald (NYSE:EEX) last announced its quarterly earnings data on Wednesday, August 7th. The company reported ($0.03) earnings per share for the quarter, beating analysts’ consensus estimates of ($0.16) by $0.13. The company had revenue of $86.00 million for the quarter. Emerald had a negative return on equity of 27.27% and a negative net margin of 5.29%.

Emerald Cuts Dividend

The company also recently disclosed a quarterly dividend, which will be paid on Thursday, November 21st. Investors of record on Monday, November 11th will be issued a dividend of $0.015 per share. The ex-dividend date is Friday, November 8th. This represents a $0.06 dividend on an annualized basis and a dividend yield of 1.52%.

Hedge Funds Weigh In On Emerald

A number of large investors have recently modified their holdings of EEX. SG Americas Securities LLC purchased a new position in Emerald in the 3rd quarter worth approximately $53,000. Thrivent Financial for Lutherans increased its stake in Emerald by 17.8% in the 2nd quarter. Thrivent Financial for Lutherans now owns 126,479 shares of the company’s stock worth $719,000 after purchasing an additional 19,156 shares during the period. Renaissance Technologies LLC increased its stake in Emerald by 9.0% in the 2nd quarter. Renaissance Technologies LLC now owns 195,357 shares of the company’s stock worth $1,112,000 after purchasing an additional 16,200 shares during the period. Dimensional Fund Advisors LP increased its stake in Emerald by 1.0% in the 2nd quarter. Dimensional Fund Advisors LP now owns 269,034 shares of the company’s stock worth $1,531,000 after purchasing an additional 2,624 shares during the period. Finally, FFT Wealth Management LLC purchased a new position in Emerald in the 2nd quarter worth approximately $532,000. 14.90% of the stock is owned by hedge funds and other institutional investors.

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.