Emerald Expositions (EEX) Shares Bought by Bank of New York Mellon Corp

Bank of New York Mellon Corp raised its stake in Emerald Expositions (NYSE:EEX) by 324.2% in the 4th quarter, according to its most recent Form 13F filing with the Securities and Exchange Commission (SEC). The institutional investor owned 233,456 shares of the company’s stock after acquiring an additional 178,426 shares during the period. Bank of New York Mellon Corp owned 0.32% of Emerald Expositions worth $4,748,000 as of its most recent filing with the Securities and Exchange Commission (SEC).

Other hedge funds and other institutional investors also recently added to or reduced their stakes in the company. Stifel Financial Corp acquired a new position in Emerald Expositions in the third quarter valued at $216,000. Swiss National Bank acquired a new position in Emerald Expositions in the fourth quarter valued at $626,000. Neuberger Berman Group LLC acquired a new position in Emerald Expositions in the third quarter valued at $877,000. Gabelli Funds LLC boosted its stake in Emerald Expositions by 8.0% in the fourth quarter. Gabelli Funds LLC now owns 54,000 shares of the company’s stock valued at $1,098,000 after acquiring an additional 4,000 shares in the last quarter. Finally, Schwab Charles Investment Management Inc. boosted its stake in Emerald Expositions by 5.3% in the third quarter. Schwab Charles Investment Management Inc. now owns 55,295 shares of the company’s stock valued at $1,286,000 after acquiring an additional 2,803 shares in the last quarter. Institutional investors own 30.03% of the company’s stock.

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A number of equities research analysts have recently commented on the stock. ValuEngine raised shares of Emerald Expositions from a “buy” rating to a “strong-buy” rating in a report on Monday, April 2nd. Zacks Investment Research raised shares of Emerald Expositions from a “hold” rating to a “buy” rating and set a $24.00 target price for the company in a report on Friday, January 19th. Finally, Goldman Sachs raised shares of Emerald Expositions from a “sell” rating to a “neutral” rating in a report on Wednesday, March 14th. Four analysts have rated the stock with a hold rating, five have assigned a buy rating and one has given a strong buy rating to the company’s stock. The stock has a consensus rating of “Buy” and a consensus price target of $24.36.

In related news, major shareholder Corp Onex sold 750,000 shares of the stock in a transaction dated Tuesday, April 3rd. The shares were sold at an average price of $17.76, for a total transaction of $13,320,000.00. The transaction was disclosed in a legal filing with the Securities & Exchange Commission, which can be accessed through this link. Also, CEO David Loechner sold 92,587 shares of the stock in a transaction dated Thursday, February 1st. The stock was sold at an average price of $21.26, for a total transaction of $1,968,399.62. The disclosure for this sale can be found here. Insiders have sold 6,888,992 shares of company stock valued at $122,834,803 over the last three months.

Shares of NYSE:EEX opened at $19.67 on Monday. Emerald Expositions has a one year low of $18.19 and a one year high of $24.56. The company has a debt-to-equity ratio of 0.72, a current ratio of 0.42 and a quick ratio of 0.42. The stock has a market capitalization of $1,431.56 and a PE ratio of 17.72.

Emerald Expositions (NYSE:EEX) last announced its earnings results on Thursday, February 22nd. The company reported $0.01 EPS for the quarter, beating analysts’ consensus estimates of ($0.06) by $0.07. Emerald Expositions had a net margin of 24.01% and a return on equity of 10.10%. The business had revenue of $31.50 million during the quarter, compared to analysts’ expectations of $31.57 million. Emerald Expositions’s revenue was up 3.6% compared to the same quarter last year. sell-side analysts predict that Emerald Expositions will post 1.25 EPS for the current year.

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Emerald Expositions Company Profile

Emerald Expositions Events, Inc operates business-to-business (B2B) trade shows in the United States. The company operates trade shows in various industry sectors, including gift, home and general merchandise; sports; design and construction; technology; jewelry; and others comprising photography, food, healthcare, industrials, and military.

Institutional Ownership by Quarter for Emerald Expositions (NYSE:EEX)

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