Emerald (NYSE:EEX) Hits New 12-Month Low – Here’s What Happened

Emerald Holding, Inc. (NYSE:EEX) hit a new 52-week low during trading on Thursday . The company traded as low as $3.92 and last traded at $3.94, with a volume of 68074 shares changing hands. The stock had previously closed at $4.00.

Emerald Price Performance

The stock’s 50-day moving average price is $4.49 and its 200 day moving average price is $4.70. The firm has a market capitalization of $794.68 million, a price-to-earnings ratio of -7.25 and a beta of 1.31. The company has a quick ratio of 1.27, a current ratio of 1.27 and a debt-to-equity ratio of 1.02.

Emerald Dividend Announcement

The company also recently disclosed a quarterly dividend, which will be paid on Thursday, March 20th. Investors of record on Monday, March 10th will be given a dividend of $0.015 per share. This represents a $0.06 annualized dividend and a yield of 1.53%. The ex-dividend date is Monday, March 10th. Emerald’s payout ratio is currently -11.11%.

Institutional Investors Weigh In On Emerald

Several hedge funds and other institutional investors have recently bought and sold shares of the company. Cannell Capital LLC increased its position in Emerald by 5.0% during the fourth quarter. Cannell Capital LLC now owns 2,181,027 shares of the company’s stock worth $10,513,000 after purchasing an additional 104,299 shares during the last quarter. Advisory Research Inc. increased its position in Emerald by 15.4% during the fourth quarter. Advisory Research Inc. now owns 1,309,139 shares of the company’s stock worth $6,310,000 after purchasing an additional 175,000 shares during the last quarter. Contrarian Capital Management L.L.C. increased its position in 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 purchasing an additional 7,878 shares during the last quarter. Raymond James Financial Inc. acquired a new stake in Emerald during the fourth quarter worth about $2,970,000. Finally, MSD Partners L.P. acquired a new stake in Emerald during the fourth quarter worth about $2,410,000. 14.90% of the stock is currently owned by institutional investors and hedge funds.

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.