Rosenblatt Securities Has Lowered Expectations for Emerald (NYSE:EEX) Stock Price

Emerald (NYSE:EEX) had its target price cut by equities research analysts at Rosenblatt Securities from $8.40 to $7.80 in a research note issued to investors on Thursday, Benzinga reports. The firm presently has a “buy” rating on the stock. Rosenblatt Securities’ price objective indicates a potential upside of 91.18% from the stock’s current price.

Emerald Price Performance

EEX stock opened at $4.08 on Thursday. Emerald has a 1 year low of $3.92 and a 1 year high of $7.05. The company has a debt-to-equity ratio of 0.98, a current ratio of 1.34 and a quick ratio of 1.34. The stock has a market cap of $832.02 million, a price-to-earnings ratio of -7.56 and a beta of 1.36. The company has a 50 day simple moving average of $4.86 and a 200 day simple moving average of $5.42.

Emerald (NYSE:EEX) last released its earnings results on Wednesday, August 7th. The company reported ($0.03) earnings per share (EPS) for the quarter, beating analysts’ consensus estimates of ($0.16) by $0.13. Emerald had a negative net margin of 5.29% and a negative return on equity of 27.27%. The company had revenue of $86.00 million for the quarter.

Institutional Trading of Emerald

Several institutional investors and hedge funds have recently made changes to their positions in the company. SG Americas Securities LLC bought a new position in Emerald during the third quarter valued at about $53,000. Bank of New York Mellon Corp boosted its position in shares of Emerald by 5.9% in the second 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. FFT Wealth Management LLC bought a new position in shares of Emerald in the second quarter valued at approximately $532,000. Thrivent Financial for Lutherans boosted its position in shares of Emerald by 17.8% in the second quarter. Thrivent Financial for Lutherans now owns 126,479 shares of the company’s stock valued at $719,000 after acquiring an additional 19,156 shares during the period. Finally, Renaissance Technologies LLC boosted its position 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 acquiring an additional 16,200 shares during the period. Hedge funds and other institutional investors own 14.90% of the company’s stock.

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.