Raymond James Financial Inc. Invests $2.97 Million in Emerald Holding, Inc. (NYSE:EEX)

Raymond James Financial Inc. bought a new position in shares of Emerald Holding, Inc. (NYSE:EEX) in the fourth quarter, according to the company in its most recent filing with the SEC. The institutional investor bought 616,214 shares of the company’s stock, valued at approximately $2,970,000. Raymond James Financial Inc. owned approximately 0.30% of Emerald at the end of the most recent quarter.

Several other hedge funds and other institutional investors have also recently modified their holdings of EEX. Copeland Capital Management LLC bought a new position in shares of Emerald in the 4th quarter valued at about $57,000. Virtu Financial LLC bought a new stake in Emerald in the third quarter valued at approximately $67,000. Victory Capital Management Inc. bought a new stake in Emerald in the fourth quarter valued at approximately $92,000. Barclays PLC boosted its stake in shares of Emerald by 184.2% during the 3rd quarter. Barclays PLC now owns 21,977 shares of the company’s stock worth $109,000 after acquiring an additional 14,244 shares during the period. Finally, Paloma Partners Management Co acquired a new stake in shares of Emerald during the 3rd quarter worth about $164,000. Institutional investors and hedge funds own 14.90% of the company’s stock.

Analyst Upgrades and Downgrades

Separately, Rosenblatt Securities reaffirmed a “buy” rating and set a $7.80 price target on shares of Emerald in a research report on Thursday, March 13th.

Emerald Stock Performance

Emerald stock opened at $3.87 on Friday. The stock has a market cap of $773.18 million, a PE ratio of -7.16 and a beta of 1.31. The company has a quick ratio of 1.27, a current ratio of 1.27 and a debt-to-equity ratio of 1.02. The business’s 50-day moving average price is $4.24 and its two-hundred day moving average price is $4.54. Emerald Holding, Inc. has a 12-month low of $3.55 and a 12-month high of $6.82.

Emerald (NYSE:EEX) last posted its earnings results on Friday, March 14th. The company reported $0.03 earnings per share for the quarter, hitting analysts’ consensus estimates of $0.03. Emerald had a negative net margin of 5.29% and a negative return on equity of 13.26%. The firm had revenue of $106.80 million for the quarter, compared to analysts’ expectations of $108.05 million.

Emerald Dividend Announcement

The firm also recently declared a quarterly dividend, which was paid on Thursday, March 20th. Stockholders of record on Monday, March 10th were issued a dividend of $0.015 per share. The ex-dividend date of this dividend was Monday, March 10th. This represents a $0.06 dividend on an annualized basis and a dividend yield of 1.55%. Emerald’s dividend payout ratio (DPR) is presently -120.00%.

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.