Raymond James Financial Inc. Buys Shares of 616,214 Emerald Holding, Inc. (NYSE:EEX)

Raymond James Financial Inc. acquired a new position in shares of Emerald Holding, Inc. (NYSE:EEX - Free Report) during the 4th quarter, according to its most recent 13F filing with the Securities & Exchange Commission. The firm acquired 616,214 shares of the company's stock, valued at approximately $2,970,000. Raymond James Financial Inc. owned about 0.30% of Emerald at the end of the most recent reporting period.

Other hedge funds have also recently added to or reduced their stakes in the company. Bank of New York Mellon Corp lifted its position in shares of Emerald by 721.6% in the 4th quarter. Bank of New York Mellon Corp now owns 484,135 shares of the company's stock worth $2,334,000 after buying an additional 425,207 shares during the last quarter. Geode Capital Management LLC raised its stake in Emerald by 1.2% during the third quarter. Geode Capital Management LLC now owns 391,404 shares of the company's stock worth $1,953,000 after acquiring an additional 4,760 shares during the period. State Street Corp lifted its holdings in Emerald by 5.7% in the third quarter. State Street Corp now owns 235,640 shares of the company's stock worth $1,176,000 after acquiring an additional 12,622 shares during the last quarter. Barclays PLC boosted 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 period. Finally, Cannell Capital LLC grew its holdings in shares of Emerald by 5.0% during the fourth quarter. Cannell Capital LLC now owns 2,181,027 shares of the company's stock valued at $10,513,000 after purchasing an additional 104,299 shares during the last quarter. Institutional investors and hedge funds own 14.90% of the company's stock.

Wall Street Analyst Weigh In

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

Emerald Stock Performance

Shares of Emerald stock traded up $0.05 during trading on Friday, hitting $4.57. 132,550 shares of the stock were exchanged, compared to its average volume of 192,576. 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 Holding, Inc. has a 12 month low of $3.22 and a 12 month high of $6.74. The stock's fifty day moving average is $3.85 and its 200 day moving average is $4.35. The stock has a market cap of $911.16 million, a PE ratio of -8.45 and a beta of 1.05.

Emerald (NYSE:EEX - Get Free Report) last posted its earnings results on Thursday, May 1st. The company reported $0.08 EPS for the quarter, topping the consensus estimate of $0.07 by $0.01. The firm had revenue of $147.70 million during the quarter, compared to analysts' expectations 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 firm also recently announced a quarterly dividend, which will be paid on Thursday, May 22nd. Shareholders of record on Monday, May 12th will be paid a dividend of $0.015 per share. This represents a $0.06 annualized dividend and a yield of 1.31%. The ex-dividend date of this dividend is Monday, May 12th. Emerald's payout ratio is currently 200.00%.

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.