Emerald Expositions Events (NYSE:EEX) Lifted to “Hold” at Zacks Investment Research
Emerald Expositions Events (NYSE:EEX) was upgraded by Zacks Investment Research from a “sell” rating to a “hold” rating in a report released on Wednesday, January 3rd.
According to Zacks, “Emerald Expositions Events, Inc. organizes business to business trade shows. The Company operates live events as well as offers other marketing services, including digital media and print publications. It serves sports, technology, jewelry, construction and other sectors primarily in the United States. Emerald Expositions Events, Inc. is headquartered in San Juan Capistrano, California. “
Separately, Robert W. Baird boosted their target price on shares of Emerald Expositions Events from $23.00 to $24.00 and gave the company a “neutral” rating in a report on Friday, November 3rd. One research analyst has rated the stock with a sell rating, two have given a hold rating and six have assigned a buy rating to the stock. The stock currently has a consensus rating of “Buy” and a consensus target price of $24.36.
Emerald Expositions Events (NYSE:EEX) last posted its quarterly earnings results on Thursday, November 2nd. The company reported $0.37 EPS for the quarter, hitting analysts’ consensus estimates of $0.37. Emerald Expositions Events had a net margin of 5.19% and a return on equity of 7.09%. The company had revenue of $100.40 million for the quarter, compared to analysts’ expectations of $107.24 million. During the same quarter in the previous year, the firm posted $0.43 EPS. Emerald Expositions Events’s revenue was down .1% on a year-over-year basis. sell-side analysts expect that Emerald Expositions Events will post 1.06 EPS for the current year.
In other news, CEO David Loechner sold 31,555 shares of the company’s stock in a transaction on Tuesday, December 12th. The shares were sold at an average price of $20.04, for a total value of $632,362.20. The transaction was disclosed in a legal filing with the SEC, which is available at this hyperlink. Also, SVP Lori Jenks sold 6,666 shares of the company’s stock in a transaction on Thursday, November 30th. The stock was sold at an average price of $22.23, for a total transaction of $148,185.18. The disclosure for this sale can be found here. In the last ninety days, insiders sold 235,883 shares of company stock worth $5,039,458.
Institutional investors have recently added to or reduced their stakes in the company. FMR LLC purchased a new position in Emerald Expositions Events in the second quarter worth $148,827,000. Kayne Anderson Rudnick Investment Management LLC grew its position in Emerald Expositions Events by 1,879.4% in the third quarter. Kayne Anderson Rudnick Investment Management LLC now owns 2,238,144 shares of the company’s stock worth $52,014,000 after acquiring an additional 2,125,071 shares in the last quarter. JPMorgan Chase & Co. grew its position in Emerald Expositions Events by 12.8% in the third quarter. JPMorgan Chase & Co. now owns 1,661,574 shares of the company’s stock worth $38,748,000 after acquiring an additional 189,166 shares in the last quarter. Lazard Asset Management LLC purchased a new position in Emerald Expositions Events in the second quarter worth $30,602,000. Finally, Vanguard Group Inc. purchased a new position in Emerald Expositions Events in the second quarter worth $27,309,000. 26.63% of the stock is currently owned by hedge funds and other institutional investors.
About Emerald Expositions Events
Emerald Expositions Events, Inc (Emerald), formerly Expo Event Holdco, Inc, is an operator of business-to-business (B2B) trade shows. The Company operates across multiple sectors, which includes: Gift, Home and General Merchandise; Sports; Design and Construction; Technology; Jewelry; Other Trade Shows; and Other Events.
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