Geode Capital Management LLC Boosts Position in Emerald Holding, Inc. (NYSE:EEX)

Geode Capital Management LLC raised its stake in Emerald Holding, Inc. (NYSE:EEX) by 1.2% during the 3rd quarter, according to its most recent Form 13F filing with the Securities & Exchange Commission. The fund owned 391,404 shares of the company’s stock after purchasing an additional 4,760 shares during the period. Geode Capital Management LLC owned 0.19% of Emerald worth $1,953,000 as of its most recent SEC filing.

A number of other hedge funds and other institutional investors also recently added to or reduced their stakes in the stock. Bank of New York Mellon Corp increased its position in Emerald by 5.9% in the 2nd quarter. Bank of New York Mellon Corp now owns 70,486 shares of the company’s stock valued at $401,000 after acquiring an additional 3,950 shares during the period. Dimensional Fund Advisors LP grew its stake in shares of Emerald by 1.0% in the 2nd quarter. Dimensional Fund Advisors LP now owns 269,034 shares of the company’s stock valued at $1,531,000 after purchasing an additional 2,624 shares during the last quarter. Renaissance Technologies LLC increased its holdings in shares of Emerald by 9.0% in the second quarter. Renaissance Technologies LLC now owns 195,357 shares of the company’s stock valued at $1,112,000 after purchasing an additional 16,200 shares during the period. Thrivent Financial for Lutherans raised its stake in shares of Emerald by 17.8% during the second quarter. Thrivent Financial for Lutherans now owns 126,479 shares of the company’s stock worth $719,000 after purchasing an additional 19,156 shares during the last quarter. Finally, SG Americas Securities LLC acquired a new stake in shares of Emerald during the third quarter worth $53,000. Institutional investors and hedge funds own 14.90% of the company’s stock.

Emerald Price Performance

EEX stock opened at $4.79 on Thursday. The company has a market cap of $972.29 million, a price-to-earnings ratio of -8.87 and a beta of 1.44. 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 firm has a 50 day moving average of $4.73 and a 200-day moving average of $5.01. Emerald Holding, Inc. has a 12-month low of $3.92 and a 12-month high of $7.05.

Emerald Cuts Dividend

The business also recently disclosed a quarterly dividend, which was paid on Thursday, November 21st. Investors of record on Monday, November 11th were given a dividend of $0.015 per share. The ex-dividend date of this dividend was Friday, November 8th. This represents a $0.06 annualized dividend and a dividend yield of 1.25%. Emerald’s dividend payout ratio is currently -11.11%.

Wall Street Analyst Weigh In

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

Emerald Company 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.