Littlejohn & Co. LLC Cuts Stake in Emerald Holding, Inc. (NYSE:EEX)

Littlejohn & Co. LLC lowered its stake in shares of Emerald Holding, Inc. (NYSE:EEX - Free Report) by 28.8% during the fourth quarter, according to its most recent Form 13F filing with the Securities and Exchange Commission (SEC). The institutional investor owned 259,358 shares of the company's stock after selling 104,719 shares during the quarter. Emerald comprises approximately 0.6% of Littlejohn & Co. LLC's investment portfolio, making the stock its 9th biggest position. Littlejohn & Co. LLC owned about 0.13% of Emerald worth $1,250,000 as of its most recent SEC filing.

A number of other hedge funds have also recently added to or reduced their stakes in EEX. Barclays PLC increased its stake in Emerald by 184.2% in the third quarter. Barclays PLC now owns 21,977 shares of the company's stock valued at $109,000 after acquiring an additional 14,244 shares during the last quarter. Copeland Capital Management LLC acquired a new stake in shares of Emerald in the 4th quarter valued at $57,000. Bank of New York Mellon Corp boosted its stake in Emerald by 721.6% in the fourth quarter. Bank of New York Mellon Corp now owns 484,135 shares of the company's stock valued at $2,334,000 after buying an additional 425,207 shares in the last quarter. Victory Capital Management Inc. bought a new position in Emerald in the fourth quarter valued at about $92,000. Finally, Raymond James Financial Inc. acquired a new position in Emerald during the fourth quarter worth about $2,970,000. Institutional investors own 14.90% of the company's stock.

Analysts Set New Price Targets

Separately, Rosenblatt Securities reissued a "buy" rating and issued a $7.80 target price on shares of Emerald in a report on Friday, May 2nd.

Emerald Trading Up 1.3%

Shares of NYSE:EEX traded up $0.06 during midday trading on Thursday, hitting $4.68. 77,184 shares of the stock were exchanged, compared to its average volume of 193,841. The business's 50-day moving average price is $3.94 and its 200 day moving average price is $4.36. The stock has a market capitalization of $930.66 million, a price-to-earnings ratio of -8.67 and a beta of 1.05. Emerald Holding, Inc. has a 12 month low of $3.22 and a 12 month high of $6.74. The company has a debt-to-equity ratio of 1.02, a quick ratio of 1.27 and a current ratio of 1.27.

Emerald (NYSE:EEX - Get Free Report) last posted its earnings results on Thursday, May 1st. The company reported $0.08 earnings per share for the quarter, topping analysts' consensus estimates of $0.07 by $0.01. The firm had revenue of $147.70 million for the quarter, compared to analyst estimates of $134.30 million. Emerald had a negative net margin of 5.29% and a negative return on equity of 13.26%.

Emerald Dividend Announcement

The company also recently announced a quarterly dividend, which will be paid on Thursday, May 22nd. Shareholders of record on Monday, May 12th will be given a dividend of $0.015 per share. This represents a $0.06 dividend on an annualized basis and a yield of 1.28%. The ex-dividend date is Monday, May 12th. Emerald's dividend payout ratio is presently 200.00%.

Emerald 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.