Emerald (NYSE:EEX) Shares Gap Down – Here’s Why

Emerald Holding, Inc. (NYSE:EEX) shares gapped down before the market opened on Thursday . The stock had previously closed at $5.02, but opened at $4.64. Emerald shares last traded at $4.75, with a volume of 1,312 shares traded.

Wall Street Analysts Forecast Growth

Separately, Rosenblatt Securities restated a “buy” rating and set a $7.70 price target on shares of Emerald in a research report on Monday, March 16th. One analyst has rated the stock with a Buy rating and one has issued a Sell rating to the stock. According to data from MarketBeat.com, the stock presently has an average rating of “Hold” and a consensus price target of $7.70.

Emerald Stock Up 3.3%

The company has a current ratio of 0.82, a quick ratio of 0.82 and a debt-to-equity ratio of 1.47. The company has a market capitalization of $954.91 million, a price-to-earnings ratio of -32.16 and a beta of 0.55. The firm’s fifty day simple moving average is $4.53 and its two-hundred day simple moving average is $4.46.

Emerald (NYSE:EEX) last posted its earnings results on Friday, March 13th. The company reported ($0.15) earnings per share for the quarter, missing the consensus estimate of $0.04 by ($0.19). The firm had revenue of $132.70 million during the quarter, compared to analyst estimates of $131.00 million. Emerald had a negative net margin of 6.62% and a negative return on equity of 8.24%.

Emerald Dividend Announcement

The company also recently announced a quarterly dividend, which was paid on Thursday, April 2nd. Shareholders of record on Monday, March 23rd were issued a $0.015 dividend. This represents a $0.06 annualized dividend and a yield of 1.2%. The ex-dividend date was Monday, March 23rd. Emerald’s payout ratio is presently -40.00%.

Hedge Funds Weigh In On Emerald

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

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.