Emerald Holding, Inc. (NYSE:EEX) Short Interest Up 196.3% in May

Emerald Holding, Inc. (NYSE:EEX) saw a large increase in short interest in the month of May. As of May 15th, there was short interest totaling 780,404 shares, an increase of 196.3% from the April 30th total of 263,343 shares. Based on an average daily volume of 1,067,868 shares, the days-to-cover ratio is currently 0.7 days. Approximately 0.4% of the company’s stock are sold short.

Emerald Stock Performance

Shares of NYSE:EEX traded down $0.01 during midday trading on Friday, hitting $4.99. The stock had a trading volume of 58,284 shares, compared to its average volume of 723,836. The company has a market capitalization of $987.57 million, a PE ratio of -26.26 and a beta of 0.55. The stock has a 50 day moving average price of $4.75 and a two-hundred day moving average price of $4.51. The company has a current ratio of 0.91, a quick ratio of 0.91 and a debt-to-equity ratio of 1.47. Emerald has a 1 year low of $3.32 and a 1 year high of $5.45.

Emerald (NYSE:EEX) last issued its earnings results on Monday, May 11th. The company reported $0.04 earnings per share 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 net margin of 8.24% and a negative return on equity of 10.81%.

Emerald Announces Dividend

The firm also recently disclosed a quarterly dividend, which will be paid on Monday, June 1st. Shareholders of record on Thursday, May 21st will be given a $0.015 dividend. The ex-dividend date is Thursday, May 21st. This represents a $0.06 annualized dividend and a yield of 1.2%. Emerald’s dividend payout ratio is presently -31.58%.

Analyst Upgrades and Downgrades

EEX has been the topic of several recent research reports. Weiss Ratings restated a “sell (d)” rating on shares of Emerald in a report on Friday, May 8th. Maxim Group cut Emerald from a “buy” rating to a “hold” rating in a research report on Monday, May 11th. Finally, Rosenblatt Securities reaffirmed a “neutral” rating and set a $5.03 price objective (down from $7.70) on shares of Emerald in a research note on Tuesday, May 12th. Two investment analysts have rated the stock with a Hold rating and one has assigned a Sell rating to the stock. Based on data from MarketBeat.com, Emerald presently has a consensus rating of “Reduce” and an average price target of $5.03.

Institutional Investors Weigh In On Emerald

Institutional investors have recently made changes to their positions in the stock. Russell Investments Group Ltd. grew its stake in shares of Emerald by 127.0% during the 4th quarter. Russell Investments Group Ltd. now owns 6,957 shares of the company’s stock worth $31,000 after purchasing an additional 3,892 shares during the period. Abel Hall LLC acquired a new position in shares of Emerald during the 1st quarter worth $48,000. Ritholtz Wealth Management acquired a new position in shares of Emerald during the 4th quarter worth $67,000. Wells Fargo & Company MN grew its stake in shares of Emerald by 79.0% during the 4th quarter. Wells Fargo & Company MN now owns 15,308 shares of the company’s stock worth $68,000 after purchasing an additional 6,756 shares during the period. Finally, Cubist Systematic Strategies LLC acquired a new position in shares of Emerald during the 1st quarter worth $116,000. 14.90% of the stock is currently 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.