Emerald (NYSE:EEX) Shares Pass Above Fifty Day Moving Average – Here’s What Happened

Shares of Emerald Holding, Inc. (NYSE:EEX) crossed above its 50-day moving average during trading on Friday . The stock has a 50-day moving average of $4.89 and traded as high as $5.04. Emerald shares last traded at $5.0250, with a volume of 78,111 shares changing hands.

Wall Street Analysts Forecast Growth

A number of brokerages have issued reports on EEX. Rosenblatt Securities reiterated a “neutral” rating and set a $5.03 price objective (down from $7.70) on shares of Emerald in a research note on Tuesday, May 12th. Maxim Group cut shares of Emerald from a “buy” rating to a “hold” rating in a research note on Monday, May 11th. Finally, Weiss Ratings raised shares of Emerald from a “sell (d)” rating to a “sell (d+)” rating in a research report on Tuesday, June 2nd. Two investment analysts have rated the stock with a Hold rating and one has given a Sell rating to the company’s stock. According to data from MarketBeat, the stock currently has an average rating of “Reduce” and an average price target of $5.03.

Emerald Trading Up 0.1%

The firm has a market capitalization of $994.50 million, a PE ratio of -26.45 and a beta of 0.57. The firm has a 50 day simple moving average of $4.89 and a 200 day simple moving average of $4.64. The company has a current ratio of 0.91, a quick ratio of 0.91 and a debt-to-equity ratio of 1.47.

Emerald (NYSE:EEX) last posted its quarterly earnings results on Monday, May 11th. The company reported $0.04 earnings per share for the quarter, missing the consensus estimate of $0.10 by ($0.06). Emerald had a negative return on equity of 10.81% and a negative net margin of 8.24%.The business had revenue of $155.40 million during the quarter, compared to analysts’ expectations of $155.40 million.

Emerald Announces Dividend

The business also recently disclosed a quarterly dividend, which was paid on Monday, June 1st. Stockholders of record on Thursday, May 21st were issued a dividend of $0.015 per share. This represents a $0.06 annualized dividend and a dividend yield of 1.2%. The ex-dividend date of this dividend was Thursday, May 21st. Emerald’s payout ratio is presently -31.58%.

Institutional Investors Weigh In On Emerald

Several institutional investors and hedge funds have recently added to or reduced their stakes in the stock. Cubist Systematic Strategies LLC bought a new stake in shares of Emerald during the 1st quarter valued at about $116,000. XTX Topco Ltd boosted its stake in shares of Emerald by 103.7% during the 2nd quarter. XTX Topco Ltd now owns 30,127 shares of the company’s stock worth $146,000 after acquiring an additional 15,339 shares during the last quarter. Jane Street Group LLC increased its stake in shares of Emerald by 18.1% in the 2nd quarter. Jane Street Group LLC now owns 33,350 shares of the company’s stock worth $162,000 after purchasing an additional 5,113 shares in the last quarter. MSD Partners L.P. grew its holdings in Emerald by 1.6% during the second quarter. MSD Partners L.P. now owns 1,066,638 shares of the company’s stock valued at $5,173,000 after purchasing an additional 16,638 shares during the period. Finally, Contrarian Capital Management L.L.C. increased its position in Emerald by 12.1% in the third quarter. Contrarian Capital Management L.L.C. now owns 879,000 shares of the company’s stock worth $4,474,000 after buying an additional 95,138 shares in the last quarter. Hedge funds and other institutional investors own 14.90% of the company’s stock.

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.