Rosenblatt Securities Cuts Emerald (NYSE:EEX) Price Target to $7.80

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

Emerald Stock Up 3.6 %

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

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

Institutional Investors Weigh In On Emerald

Institutional investors and hedge funds have recently modified their holdings of the company. SG Americas Securities LLC purchased a new stake in shares of Emerald during the third quarter worth approximately $53,000. Bank of New York Mellon Corp lifted its stake in shares of Emerald by 5.9% in the 2nd quarter. Bank of New York Mellon Corp now owns 70,486 shares of the company’s stock valued at $401,000 after purchasing an additional 3,950 shares during the last quarter. FFT Wealth Management LLC acquired a new position in shares of Emerald in the 2nd quarter valued at $532,000. Thrivent Financial for Lutherans lifted its stake in Emerald by 17.8% during the 2nd quarter. Thrivent Financial for Lutherans now owns 126,479 shares of the company’s stock worth $719,000 after acquiring an additional 19,156 shares in the last quarter. Finally, Renaissance Technologies LLC raised its position in Emerald by 9.0% in the 2nd quarter. Renaissance Technologies LLC now owns 195,357 shares of the company’s stock valued at $1,112,000 after purchasing an additional 16,200 shares in the last quarter. Institutional investors and hedge funds own 14.90% of the company’s stock.

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.