Millennium Management LLC Lowers Stake in Emerald Holding, Inc. (NYSE:EEX)

Millennium Management LLC cut its stake in Emerald Holding, Inc. (NYSE:EEX - Free Report) by 51.6% in the fourth quarter, according to the company in its most recent filing with the Securities and Exchange Commission. The firm owned 311,723 shares of the company's stock after selling 332,844 shares during the period. Millennium Management LLC owned approximately 0.15% of Emerald worth $1,503,000 as of its most recent filing with the Securities and Exchange Commission.

Several other institutional investors and hedge funds have also recently added to or reduced their stakes in EEX. Geode Capital Management LLC raised its holdings in shares of Emerald by 0.9% in the 4th quarter. Geode Capital Management LLC now owns 394,834 shares of the company's stock valued at $1,903,000 after purchasing an additional 3,430 shares during the period. First Manhattan CO. LLC. increased its stake in Emerald by 16.4% in the fourth quarter. First Manhattan CO. LLC. now owns 25,338 shares of the company's stock valued at $122,000 after acquiring an additional 3,575 shares during the last quarter. Hsbc Holdings PLC grew its stake in shares of Emerald by 25.5% during the fourth quarter. Hsbc Holdings PLC now owns 35,467 shares of the company's stock worth $172,000 after buying an additional 7,208 shares during the last quarter. Contrarian Capital Management L.L.C. grew its stake in shares of Emerald by 1.0% during the fourth quarter. Contrarian Capital Management L.L.C. now owns 790,885 shares of the company's stock worth $3,812,000 after buying an additional 7,878 shares during the last quarter. Finally, Two Sigma Securities LLC bought a new stake in shares of Emerald during the fourth quarter worth $62,000. 14.90% of the stock is owned by institutional investors.

Analyst Ratings Changes

Several equities analysts have recently weighed in on EEX shares. Wall Street Zen upgraded shares of Emerald from a "hold" rating to a "buy" rating in a report on Friday, May 30th. Rosenblatt Securities reissued a "buy" rating and set a $7.80 target price on shares of Emerald in a research report on Friday, May 2nd.

Emerald Price Performance

Shares of NYSE:EEX traded up $0.05 during trading on Friday, reaching $4.69. The company had a trading volume of 90,333 shares, compared to its average volume of 198,107. The company has a fifty day moving average of $4.17 and a two-hundred day moving average of $4.37. The stock has a market capitalization of $931.65 million, a P/E ratio of -8.68 and a beta of 1.11. Emerald Holding, Inc. has a 12 month low of $3.22 and a 12 month high of $6.74. The company has a current ratio of 1.27, a quick ratio of 1.27 and a debt-to-equity ratio of 1.02.

Emerald (NYSE:EEX - Get Free Report) last released its earnings results on Thursday, May 1st. The company reported $0.08 EPS for the quarter, beating the consensus estimate of $0.07 by $0.01. The company 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 Announces Dividend

The firm also recently declared a quarterly dividend, which was paid on Thursday, May 22nd. Investors of record on Monday, May 12th were given a dividend of $0.015 per share. The ex-dividend date of this dividend was Monday, May 12th. This represents a $0.06 dividend on an annualized basis and a yield of 1.28%. Emerald's dividend payout ratio (DPR) is currently 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.