State Street Corp Acquires 12,622 Shares of Emerald Holding, Inc. (NYSE:EEX)

State Street Corp boosted its holdings in shares of Emerald Holding, Inc. (NYSE:EEX) by 5.7% during the third quarter, according to its most recent 13F filing with the Securities and Exchange Commission (SEC). The fund owned 235,640 shares of the company’s stock after acquiring an additional 12,622 shares during the quarter. State Street Corp owned 0.12% of Emerald worth $1,176,000 at the end of the most recent quarter.

Several other institutional investors and hedge funds have also recently added to or reduced their stakes in EEX. Charles Schwab Investment Management Inc. lifted its holdings in shares of Emerald by 247.4% during the third quarter. Charles Schwab Investment Management Inc. now owns 148,201 shares of the company’s stock worth $740,000 after purchasing an additional 105,535 shares during the period. Dynamic Technology Lab Private Ltd bought a new position in Emerald during the 3rd quarter worth $222,000. Point72 Asia Singapore Pte. Ltd. acquired a new position in Emerald during the 3rd quarter worth about $195,000. Centiva Capital LP bought a new stake in shares of Emerald in the 3rd quarter valued at about $169,000. Finally, Paloma Partners Management Co acquired a new stake in shares of Emerald in the third quarter valued at about $164,000. 14.90% of the stock is currently owned by institutional investors and hedge funds.

Emerald Stock Performance

Shares of Emerald stock opened at $4.74 on Friday. The business has a 50-day moving average price of $4.71 and a two-hundred day moving average price of $5.06. Emerald Holding, Inc. has a 1-year low of $3.92 and a 1-year high of $7.05. The company has a current ratio of 1.27, a quick ratio of 1.27 and a debt-to-equity ratio of 1.02. The company has a market cap of $962.14 million, a P/E ratio of -8.78 and a beta of 1.44.

Emerald Cuts Dividend

The firm also recently announced a quarterly dividend, which was paid on Thursday, November 21st. Investors of record on Monday, November 11th were paid a dividend of $0.015 per share. The ex-dividend date was Friday, November 8th. This represents a $0.06 annualized dividend and a yield of 1.27%. Emerald’s dividend payout ratio is currently -11.11%.

Wall Street Analyst Weigh In

A number of equities analysts recently commented on EEX shares. Maxim Group cut their price objective on Emerald from $11.00 to $8.00 and set a “buy” rating on the stock in a research note on Thursday, October 31st. Rosenblatt Securities dropped their price target on shares of Emerald from $8.40 to $7.80 and set a “buy” rating on the stock in a research report on Thursday, October 31st.

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.