Comerica Bank Invests $5.35 Million in Emerald Expositions (EEX) Stock

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.

Want to see what other hedge funds are holding EEX? Visit HoldingsChannel.com to get the latest 13F filings and insider trades for Emerald Expositions (NYSE:EEX).

Institutional Ownership by Quarter for Emerald Expositions (NYSE:EEX)

Receive News & Ratings for Emerald Expositions Daily - Enter your email address below to receive a concise daily summary of the latest news and analysts' ratings for Emerald Expositions and related companies with MarketBeat.com's FREE daily email newsletter.




Leave a Reply