Rosenblatt Securities Reiterates Buy Rating for Emerald (NYSE:EEX)

Emerald (NYSE:EEX)‘s stock had its “buy” rating reissued by Rosenblatt Securities in a report released on Thursday,Benzinga reports. They currently have a $7.80 target price on the stock. Rosenblatt Securities’ price objective suggests a potential upside of 91.79% from the company’s previous close.

Emerald Stock Performance

Shares of NYSE EEX opened at $4.07 on Thursday. The firm has a 50 day moving average of $4.39 and a 200 day moving average of $4.66. 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 market capitalization of $825.54 million, a price-to-earnings ratio of -7.53 and a beta of 1.31. Emerald has a 12-month low of $3.55 and a 12-month high of $7.05.

Hedge Funds Weigh In On Emerald

A number of hedge funds have recently modified their holdings of the company. Geode Capital Management LLC boosted its position in shares of Emerald by 0.9% in the fourth quarter. Geode Capital Management LLC now owns 394,834 shares of the company’s stock worth $1,903,000 after purchasing an additional 3,430 shares during the period. First Manhattan CO. LLC. boosted its position in shares of Emerald by 16.4% in the fourth quarter. First Manhattan CO. LLC. now owns 25,338 shares of the company’s stock worth $122,000 after purchasing an additional 3,575 shares during the period. Hsbc Holdings PLC boosted its position in shares of Emerald by 25.5% in the fourth quarter. Hsbc Holdings PLC now owns 35,467 shares of the company’s stock worth $172,000 after purchasing an additional 7,208 shares during the period. Contrarian Capital Management L.L.C. boosted its position in shares of Emerald by 1.0% in the fourth quarter. Contrarian Capital Management L.L.C. now owns 790,885 shares of the company’s stock worth $3,812,000 after purchasing an additional 7,878 shares during the period. Finally, Copeland Capital Management LLC bought a new position in shares of Emerald in the fourth quarter worth approximately $57,000. 14.90% of the stock is currently owned by institutional investors.

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.