Emerald (NYSE:EEX) Shares Gap Up - Should You Buy?

Key Points

• Emerald shares gapped up ahead of the open, rising from a prior close of $4.57 to an opening price of $5.05, and were last trading around $5.01.
• Rosenblatt Securities reaffirmed a buy rating and set a $7.70 price target, while MarketBeat data shows the stock’s overall consensus rating is Hold.
• The company recently reported weaker-than-expected earnings, posting $0.04 EPS versus the $0.11 estimate, and it carries a negative net margin and return on equity.

Shares of Emerald Holding, Inc. (NYSE:EEX - Get Free Report) gapped up before the market opened on Monday . The stock had previously closed at $4.57, but opened at $5.05. Emerald shares last traded at $5.0050, with a volume of 228,988 shares traded.

Wall Street Analyst Weigh In

Separately, Rosenblatt Securities reissued a "buy" rating and issued a $7.70 price target on shares of Emerald in a research report on Monday, March 16th. One analyst has rated the stock with a Buy rating and one has assigned a Sell rating to the company's stock. According to data from MarketBeat, Emerald currently has an average rating of "Hold" and a consensus target price of $7.70.

Emerald Stock Up 9.3%

The firm has a market cap of $988.56 million, a P/E ratio of -33.30 and a beta of 0.55. The stock's 50 day simple moving average is $4.55 and its 200 day simple moving average is $4.45. The company has a debt-to-equity ratio of 1.47, a quick ratio of 0.82 and a current ratio of 0.82.

Emerald (NYSE:EEX - Get Free Report) last announced its quarterly earnings results on Monday, May 11th. The company reported $0.04 EPS for the quarter, missing analysts' consensus estimates of $0.11 by ($0.07). Emerald had a negative net margin of 6.62% and a negative return on equity of 8.24%.

Emerald Dividend Announcement

The company also recently disclosed a quarterly dividend, which was paid on Thursday, April 2nd. Shareholders of record on Monday, March 23rd were issued a dividend of $0.015 per share. This represents a $0.06 dividend on an annualized basis and a yield of 1.2%. The ex-dividend date of this dividend was Monday, March 23rd. Emerald's payout ratio is currently -40.00%.

Hedge Funds Weigh In On Emerald

A number of hedge funds have recently bought and sold shares of EEX. Cubist Systematic Strategies LLC purchased a new position in Emerald during the 1st quarter worth $116,000. XTX Topco Ltd boosted its holdings in Emerald by 103.7% during the 2nd quarter. XTX Topco Ltd now owns 30,127 shares of the company's stock worth $146,000 after acquiring an additional 15,339 shares during the last quarter. Jane Street Group LLC boosted its holdings in Emerald by 18.1% during the 2nd quarter. Jane Street Group LLC now owns 33,350 shares of the company's stock worth $162,000 after acquiring an additional 5,113 shares during the last quarter. MSD Partners L.P. boosted its holdings in Emerald by 1.6% during the 2nd quarter. MSD Partners L.P. now owns 1,066,638 shares of the company's stock worth $5,173,000 after acquiring an additional 16,638 shares during the last quarter. Finally, State of Alaska Department of Revenue purchased a new position in Emerald during the 3rd quarter worth $31,000. 14.90% of the stock is owned by hedge funds and other institutional investors.

About Emerald

Emerald NYSE: EEX is a global provider of independent data, news and analytics for commodity, financial and energy markets. The company operates digital platforms that deliver real-time and historical price assessments, market commentary, research reports and risk-management tools. Its subscriber base spans traders, asset managers, corporate hedgers and financial institutions seeking timely intelligence to support trading, risk management and investment decisions.

Serving clients across North America, Europe and Asia-Pacific, Emerald covers a broad range of markets including metals, energy products, agriculture, freight, environmental emissions and treasury benchmarks.

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