Emerald (NYSE:EEX) Sees Unusually-High Trading Volume – Time to Buy?

Shares of Emerald Holding, Inc. (NYSE:EEX) saw strong trading volume on Thursday . 1,220,941 shares changed hands during trading, an increase of 629% from the previous session’s volume of 167,404 shares.The stock last traded at $4.9750 and had previously closed at $4.98.

Wall Street Analyst Weigh In

Several equities analysts have issued reports on the stock. Maxim Group cut shares of Emerald from a “buy” rating to a “hold” rating in a research note on Monday, May 11th. Weiss Ratings restated a “sell (d)” rating on shares of Emerald in a research note on Friday, May 8th. Finally, Rosenblatt Securities restated a “neutral” rating and set a $5.03 target price (down from $7.70) on shares of Emerald in a research note on Tuesday, May 12th. Two analysts have rated the stock with a Hold rating and one has given a Sell rating to the stock. Based on data from MarketBeat.com, the company currently has a consensus rating of “Reduce” and a consensus target price of $5.03.

Emerald Stock Down 0.1%

The stock has a market cap of $984.60 million, a PE ratio of -26.18 and a beta of 0.55. The company has a debt-to-equity ratio of 1.47, a quick ratio of 0.91 and a current ratio of 0.91. The company’s 50-day moving average price is $4.69 and its 200 day moving average price is $4.48.

Emerald (NYSE:EEX) last released its earnings results on Monday, May 11th. The company reported $0.04 earnings per share (EPS) for the quarter, missing the consensus estimate of $0.10 by ($0.06). The firm had revenue of $155.40 million during the quarter, compared to analysts’ expectations of $155.40 million. Emerald had a negative return on equity of 10.81% and a negative net margin of 8.24%.

Emerald Dividend Announcement

The company also recently announced a quarterly dividend, which will be paid on Monday, June 1st. Investors of record on Thursday, May 21st will be issued a $0.015 dividend. This represents a $0.06 annualized dividend and a yield of 1.2%. The ex-dividend date of this dividend is Thursday, May 21st. Emerald’s dividend payout ratio is currently -31.58%.

Institutional Investors Weigh In On Emerald

Hedge funds and other institutional investors have recently added to or reduced their stakes in the company. State of Alaska Department of Revenue purchased a new stake in Emerald in the 3rd quarter worth approximately $31,000. Russell Investments Group Ltd. increased its holdings in Emerald by 127.0% in the 4th quarter. Russell Investments Group Ltd. now owns 6,957 shares of the company’s stock worth $31,000 after acquiring an additional 3,892 shares in the last quarter. Abel Hall LLC purchased a new stake in Emerald in the 1st quarter worth approximately $48,000. Ritholtz Wealth Management purchased a new stake in Emerald in the 4th quarter worth approximately $67,000. Finally, Wells Fargo & Company MN increased its holdings in Emerald by 79.0% in the 4th quarter. Wells Fargo & Company MN now owns 15,308 shares of the company’s stock worth $68,000 after acquiring an additional 6,756 shares in the last quarter. 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.