Comerica Bank bought a new stake in Emerald Expositions (NYSE:EEX) in the 1st quarter, Holdings Channel reports. The institutional investor bought 272,676 shares of the company’s stock, valued at approximately $5,353,000.
Other hedge funds have also recently made changes to their positions in the company. MetLife Investment Advisors LLC acquired a new position in Emerald Expositions in the 4th quarter valued at about $181,000. California State Teachers Retirement System raised its stake in Emerald Expositions by 13.0% in the 4th quarter. California State Teachers Retirement System now owns 28,583 shares of the company’s stock valued at $581,000 after purchasing an additional 3,288 shares during the last quarter. Swiss National Bank acquired a new position in Emerald Expositions in the 4th quarter valued at about $626,000. Deutsche Bank AG raised its stake in Emerald Expositions by 12.7% in the 4th quarter. Deutsche Bank AG now owns 40,674 shares of the company’s stock valued at $826,000 after purchasing an additional 4,575 shares during the last quarter. Finally, Thrivent Financial For Lutherans acquired a new position in Emerald Expositions in the 4th quarter valued at about $989,000. 30.32% of the stock is owned by hedge funds and other institutional investors.
A number of research firms have recently commented on EEX. ValuEngine downgraded shares of Emerald Expositions from a “buy” rating to a “hold” rating in a research note on Wednesday, May 2nd. Zacks Investment Research raised shares of Emerald Expositions from a “hold” rating to a “buy” rating and set a $24.00 price objective for the company in a research note on Friday, January 19th. Finally, Goldman Sachs raised shares of Emerald Expositions from a “sell” rating to a “neutral” rating in a research note on Wednesday, March 14th. Five research analysts have rated the stock with a hold rating and five have issued a buy rating to the company. The company has an average rating of “Buy” and an average target price of $24.36.
In related news, CEO David Loechner sold 10,600 shares of the stock in a transaction that occurred on Tuesday, April 24th. The shares were sold at an average price of $20.01, for a total transaction of $212,106.00. The transaction was disclosed in a filing with the Securities & Exchange Commission, which is available at the SEC website. Also, SVP David Gosling sold 5,761 shares of the stock in a transaction that occurred on Thursday, February 15th. The stock was sold at an average price of $21.49, for a total transaction of $123,803.89. The disclosure for this sale can be found here. In the last ninety days, insiders have sold 6,808,033 shares of company stock valued at $121,099,070. Corporate insiders own 5.30% of the company’s stock.
NYSE EEX opened at $19.81 on Monday. Emerald Expositions has a 12 month low of $18.19 and a 12 month high of $24.56. The company has a debt-to-equity ratio of 0.72, a current ratio of 0.42 and a quick ratio of 0.42. The stock has a market cap of $1.40 billion and a PE ratio of 17.85.
Emerald Expositions (NYSE:EEX) last posted its quarterly earnings data on Thursday, May 3rd. The company reported $0.66 EPS for the quarter, beating the Zacks’ consensus estimate of $0.63 by $0.03. Emerald Expositions had a net margin of 26.36% and a return on equity of 12.53%. The company had revenue of $142.20 million during the quarter, compared to the consensus estimate of $140.50 million. The business’s quarterly revenue was up 4.8% on a year-over-year basis. analysts expect that Emerald Expositions will post 1.25 earnings per share for the current fiscal year.
The business also recently disclosed a quarterly dividend, which will be paid on Tuesday, May 29th. Stockholders of record on Tuesday, May 15th will be paid a dividend of $0.0725 per share. The ex-dividend date of this dividend is Monday, May 14th. This represents a $0.29 dividend on an annualized basis and a dividend yield of 1.46%. This is an increase from Emerald Expositions’s previous quarterly dividend of $0.07. Emerald Expositions’s dividend payout ratio is currently 25.23%.
Emerald Expositions Profile
Emerald Expositions Events, Inc operates business-to-business (B2B) trade shows in the United States. The company operates trade shows in various industry sectors, including gift, home and general merchandise; sports; design and construction; technology; jewelry; and others comprising photography, food, healthcare, industrials, and military.
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