FMR LLC lifted its stake in Emerald Expositions Events Inc (NYSE:EEX) by 51.8% during the 4th quarter, according to its most recent 13F filing with the Securities & Exchange Commission. The fund owned 8,750,000 shares of the company’s stock after purchasing an additional 2,987,172 shares during the period. FMR LLC owned 12.18% of Emerald Expositions Events worth $107,975,000 at the end of the most recent quarter.
Several other large investors also recently bought and sold shares of EEX. Dimensional Fund Advisors LP boosted its position in shares of Emerald Expositions Events by 72.3% in the 4th quarter. Dimensional Fund Advisors LP now owns 876,335 shares of the company’s stock worth $10,814,000 after purchasing an additional 367,734 shares during the last quarter. BlackRock Inc. boosted its position in shares of Emerald Expositions Events by 22.2% in the 3rd quarter. BlackRock Inc. now owns 1,918,076 shares of the company’s stock worth $31,610,000 after purchasing an additional 348,276 shares during the last quarter. River Road Asset Management LLC bought a new position in shares of Emerald Expositions Events in the 4th quarter worth $3,846,000. Wells Fargo & Company MN boosted its position in shares of Emerald Expositions Events by 51.1% in the 3rd quarter. Wells Fargo & Company MN now owns 520,915 shares of the company’s stock worth $8,585,000 after purchasing an additional 176,067 shares during the last quarter. Finally, Bank of New York Mellon Corp boosted its position in shares of Emerald Expositions Events by 53.5% in the 4th quarter. Bank of New York Mellon Corp now owns 415,625 shares of the company’s stock worth $5,129,000 after purchasing an additional 144,869 shares during the last quarter. Institutional investors and hedge funds own 35.09% of the company’s stock.
EEX has been the topic of several recent research reports. ValuEngine lowered Emerald Expositions Events from a “sell” rating to a “strong sell” rating in a research report on Thursday, February 14th. Barclays lowered Emerald Expositions Events from an “equal weight” rating to an “underweight” rating and set a $12.00 price target on the stock. in a research report on Friday, January 18th. Finally, Zacks Investment Research upgraded Emerald Expositions Events from a “sell” rating to a “hold” rating in a report on Thursday, January 24th. Three research analysts have rated the stock with a sell rating, five have given a hold rating and two have issued a buy rating to the stock. The stock currently has an average rating of “Hold” and a consensus target price of $14.38.
Emerald Expositions Events (NYSE:EEX) last posted its earnings results on Thursday, May 2nd. The company reported $0.53 earnings per share for the quarter, missing the Thomson Reuters’ consensus estimate of $0.58 by ($0.05). The business had revenue of $137.40 million for the quarter, compared to the consensus estimate of $141.44 million. Emerald Expositions Events had a positive return on equity of 12.83% and a negative net margin of 6.59%. The business’s revenue was down 3.4% on a year-over-year basis. During the same quarter in the prior year, the firm posted $0.66 earnings per share. On average, analysts forecast that Emerald Expositions Events Inc will post 1.1 earnings per share for the current year.
The firm also recently announced a quarterly dividend, which will be paid on Tuesday, May 28th. Shareholders of record on Tuesday, May 14th will be issued a dividend of $0.075 per share. The ex-dividend date of this dividend is Monday, May 13th. This is a positive change from Emerald Expositions Events’s previous quarterly dividend of $0.07. This represents a $0.30 annualized dividend and a yield of 2.29%. Emerald Expositions Events’s payout ratio is currently 21.80%.
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Emerald Expositions Events 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, such as photography, food, healthcare, industrials, and military.
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