Millennium Management LLC Decreases Position in Emerald Holding, Inc. (NYSE:EEX)

Millennium Management LLC trimmed its stake in Emerald Holding, Inc. (NYSE:EEX) by 51.6% in the 4th quarter, according to its most recent filing with the Securities and Exchange Commission (SEC). The fund owned 311,723 shares of the company’s stock after selling 332,844 shares during the period. Millennium Management LLC owned approximately 0.15% of Emerald worth $1,503,000 at the end of the most recent reporting period.

Other institutional investors and hedge funds have also recently modified their holdings of the company. Bank of New York Mellon Corp lifted its position in Emerald by 721.6% in the fourth quarter. Bank of New York Mellon Corp now owns 484,135 shares of the company’s stock worth $2,334,000 after buying an additional 425,207 shares during the last quarter. Raymond James Financial Inc. purchased a new stake in shares of Emerald in the fourth quarter valued at $2,970,000. Northern Trust Corp raised its stake in shares of Emerald by 11.6% in the fourth quarter. Northern Trust Corp now owns 186,403 shares of the company’s stock valued at $898,000 after acquiring an additional 19,375 shares during the period. Advisory Research Inc. lifted its holdings in shares of Emerald by 15.4% in the 4th quarter. Advisory Research Inc. now owns 1,309,139 shares of the company’s stock worth $6,310,000 after acquiring an additional 175,000 shares during the last quarter. Finally, Cannell Capital LLC boosted its stake in shares of Emerald by 5.0% during the 4th quarter. Cannell Capital LLC now owns 2,181,027 shares of the company’s stock worth $10,513,000 after purchasing an additional 104,299 shares during the period. Hedge funds and other institutional investors own 14.90% of the company’s stock.

Emerald Stock Performance

EEX stock opened at $4.69 on Wednesday. Emerald Holding, Inc. has a twelve month low of $3.22 and a twelve month high of $6.74. The firm has a market cap of $931.65 million, a price-to-earnings ratio of -8.68 and a beta of 1.05. The business’s fifty day simple moving average is $4.13 and its two-hundred day simple moving average is $4.37. The company has a quick ratio of 1.27, a current ratio of 1.27 and a debt-to-equity ratio of 1.02.

Emerald (NYSE:EEX) last posted its quarterly earnings results on Thursday, May 1st. The company reported $0.08 EPS for the quarter, topping analysts’ consensus estimates of $0.07 by $0.01. The firm had revenue of $147.70 million for the quarter, compared to analysts’ expectations of $134.30 million. Emerald had a negative net margin of 5.29% and a negative return on equity of 13.26%.

Emerald Announces Dividend

The business also recently announced a quarterly dividend, which was paid on Thursday, May 22nd. Shareholders of record on Monday, May 12th were paid a $0.015 dividend. The ex-dividend date of this dividend was Monday, May 12th. This represents a $0.06 dividend on an annualized basis and a yield of 1.28%. Emerald’s dividend payout ratio is currently 200.00%.

Analyst Ratings Changes

A number of research firms recently weighed in on EEX. Rosenblatt Securities reissued a “buy” rating and issued a $7.80 price objective on shares of Emerald in a research report on Friday, May 2nd. Wall Street Zen raised Emerald from a “hold” rating to a “buy” rating in a research note on Friday, May 30th.

Emerald 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.