Emerald (NYSE:EEX) Price Target Lowered to $7.80 at Rosenblatt Securities

Emerald (NYSE:EEX) had its target price decreased by Rosenblatt Securities from $8.40 to $7.80 in a report issued on Thursday, Benzinga reports. The brokerage currently has a “buy” rating on the stock. Rosenblatt Securities’ price objective would indicate a potential upside of 89.78% from the company’s previous close.

Emerald Stock Down 11.8 %

Shares of EEX stock opened at $4.11 on Thursday. Emerald has a fifty-two week low of $4.00 and a fifty-two week high of $7.05. The firm has a market capitalization of $837.77 million, a PE ratio of -5.48 and a beta of 1.36. The company has a debt-to-equity ratio of 0.98, a quick ratio of 1.34 and a current ratio of 1.34. The stock’s 50-day simple moving average is $4.90 and its 200-day simple moving average is $5.44.

Emerald (NYSE:EEX) last posted its quarterly earnings results on Wednesday, August 7th. The company reported ($0.03) earnings per share (EPS) for the quarter, topping analysts’ consensus estimates of ($0.16) by $0.13. The company had revenue of $86.00 million during the quarter. Emerald had a net margin of 0.25% and a return on equity of 3.53%.

Institutional Trading of Emerald

A number of hedge funds have recently modified their holdings of EEX. SG Americas Securities LLC acquired a new position in Emerald in the third quarter valued at approximately $53,000. Thrivent Financial for Lutherans lifted its stake in shares of Emerald by 17.8% in the 2nd quarter. Thrivent Financial for Lutherans now owns 126,479 shares of the company’s stock valued at $719,000 after purchasing an additional 19,156 shares during the period. Renaissance Technologies LLC lifted its stake in shares of Emerald by 9.0% in the 2nd 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. Dimensional Fund Advisors LP boosted its holdings in Emerald by 1.0% during the second quarter. Dimensional Fund Advisors LP now owns 269,034 shares of the company’s stock worth $1,531,000 after buying an additional 2,624 shares in the last quarter. Finally, FFT Wealth Management LLC acquired a new stake in Emerald during the second quarter valued at $532,000. Hedge funds and other institutional investors own 14.90% of the company’s stock.

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.