Emerald (NYSE:EEX) Given “Buy” Rating at Rosenblatt Securities

Emerald (NYSE:EEX)‘s stock had its “buy” rating restated by investment analysts at Rosenblatt Securities in a report issued on Friday, Benzinga reports. They presently have a $8.40 target price on the stock. Rosenblatt Securities’ price objective indicates a potential upside of 82.61% from the company’s current price.

Emerald Stock Performance

Shares of Emerald stock opened at $4.60 on Friday. The business has a fifty day simple moving average of $4.93 and a two-hundred day simple moving average of $5.49. The firm has a market capitalization of $937.65 million, a P/E ratio of -6.13 and a beta of 1.36. The company has a current ratio of 1.34, a quick ratio of 1.34 and a debt-to-equity ratio of 0.98. Emerald has a 12 month low of $4.00 and a 12 month high of $7.05.

Emerald (NYSE:EEX) last posted its quarterly earnings data on Wednesday, August 7th. The company reported ($0.03) EPS for the quarter, topping the consensus estimate of ($0.16) by $0.13. The business had revenue of $86.00 million for the quarter. Emerald had a net margin of 0.25% and a return on equity of 3.53%.

Hedge Funds Weigh In On Emerald

Hedge funds have recently bought and sold shares of the company. FFT Wealth Management LLC purchased a new position in Emerald in the second quarter worth about $532,000. Vanguard Group Inc. raised its holdings 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 acquiring an additional 5,184 shares during the last quarter. Dimensional Fund Advisors LP lifted its position in Emerald by 1.0% in 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 in the last quarter. Renaissance Technologies LLC boosted its stake in Emerald by 9.0% during the 2nd quarter. Renaissance Technologies LLC now owns 195,357 shares of the company’s stock valued at $1,112,000 after purchasing an additional 16,200 shares during the last quarter. Finally, Bank of New York Mellon Corp increased its holdings in shares of Emerald by 5.9% in the 2nd quarter. Bank of New York Mellon Corp now owns 70,486 shares of the company’s stock worth $401,000 after purchasing an additional 3,950 shares in the last quarter. Institutional investors own 14.90% of the company’s stock.

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.