Emerald Holding, Inc. (NYSE:EEX) Sees Significant Growth in Short Interest

Emerald Holding, Inc. (NYSE:EEX) saw a large growth in short interest in the month of November. As of November 15th, there was short interest totalling 792,900 shares, a growth of 8.5% from the October 31st total of 731,000 shares. Based on an average trading volume of 284,000 shares, the days-to-cover ratio is presently 2.8 days.

Emerald Price Performance

EEX stock remained flat at $4.98 during mid-day trading on Wednesday. The company’s stock had a trading volume of 97,881 shares, compared to its average volume of 156,219. The firm’s 50 day simple moving average is $4.55 and its two-hundred day simple moving average is $5.21. Emerald has a 52-week low of $3.92 and a 52-week high of $7.05. The company has a debt-to-equity ratio of 1.02, a current ratio of 1.27 and a quick ratio of 1.27. The company has a market cap of $1.01 billion, a PE ratio of -9.24 and a beta of 1.44.

Emerald Cuts Dividend

The company also recently announced a quarterly dividend, which was paid on Thursday, November 21st. Shareholders of record on Monday, November 11th were paid a $0.015 dividend. This represents a $0.06 annualized dividend and a yield of 1.20%. The ex-dividend date of this dividend was Friday, November 8th. Emerald’s dividend payout ratio is currently -11.11%.

Institutional Inflows and Outflows

Several large investors have recently made changes to their positions in EEX. Vanguard Group Inc. raised its position in Emerald by 0.5% in the 1st quarter. Vanguard Group Inc. now owns 1,113,221 shares of the company’s stock worth $7,581,000 after purchasing an additional 5,184 shares during the period. Bank of New York Mellon Corp increased its holdings in shares of Emerald by 5.9% in the second quarter. Bank of New York Mellon Corp now owns 70,486 shares of the company’s stock worth $401,000 after buying an additional 3,950 shares during the period. FFT Wealth Management LLC bought a new stake in shares of Emerald in the 2nd quarter valued at about $532,000. Dimensional Fund Advisors LP boosted its holdings in Emerald by 1.0% during the 2nd quarter. Dimensional Fund Advisors LP now owns 269,034 shares of the company’s stock valued at $1,531,000 after acquiring an additional 2,624 shares during the period. Finally, Renaissance Technologies LLC grew its position in Emerald by 9.0% during the 2nd quarter. Renaissance Technologies LLC now owns 195,357 shares of the company’s stock worth $1,112,000 after acquiring an additional 16,200 shares during the last quarter. 14.90% of the stock is owned by hedge funds and other institutional investors.

Analysts Set New Price Targets

A number of brokerages have weighed in on EEX. Maxim Group cut their target price on shares of Emerald from $11.00 to $8.00 and set a “buy” rating for the company in a research report on Thursday, October 31st. Rosenblatt Securities dropped their price objective on Emerald from $8.40 to $7.80 and set a “buy” rating on the stock in a report on Thursday, October 31st.

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.