Emerald (NYSE:EEX) Receives “Buy” Rating from Rosenblatt Securities

Rosenblatt Securities reaffirmed their buy rating on shares of Emerald (NYSE:EEX) in a research report report published on Thursday,Benzinga reports. The firm currently has a $7.80 target price on the stock.

Emerald Price Performance

Emerald stock opened at $3.67 on Thursday. The company has a market cap of $744.95 million, a price-to-earnings ratio of -6.80 and a beta of 1.31. The firm’s fifty day moving average is $4.41 and its 200 day moving average is $4.66. 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 has a 52-week low of $3.65 and a 52-week high of $7.05.

Emerald Dividend Announcement

The firm also recently declared a quarterly dividend, which will be paid on Thursday, March 20th. Investors of record on Monday, March 10th will be paid a dividend of $0.015 per share. This represents a $0.06 dividend on an annualized basis and a yield of 1.63%. The ex-dividend date is Monday, March 10th. Emerald’s payout ratio is -11.11%.

Institutional Investors Weigh In On Emerald

A number of hedge funds have recently bought and sold shares of the business. Cannell Capital LLC raised its stake in Emerald by 5.0% during the fourth quarter. Cannell Capital LLC now owns 2,181,027 shares of the company’s stock valued at $10,513,000 after purchasing an additional 104,299 shares in the last quarter. Advisory Research Inc. raised its stake in Emerald by 15.4% during the fourth quarter. Advisory Research Inc. now owns 1,309,139 shares of the company’s stock valued at $6,310,000 after purchasing an additional 175,000 shares in the last quarter. Contrarian Capital Management L.L.C. raised its stake in Emerald by 1.0% during the fourth quarter. Contrarian Capital Management L.L.C. now owns 790,885 shares of the company’s stock valued at $3,812,000 after purchasing an additional 7,878 shares in the last quarter. Raymond James Financial Inc. purchased a new stake in shares of Emerald in the fourth quarter valued at $2,970,000. Finally, MSD Partners L.P. purchased a new stake in shares of Emerald in the fourth quarter valued at $2,410,000. Hedge funds and other institutional investors own 14.90% of the company’s stock.

About Emerald

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.