Emerald Exposition Poised For Another Bump From Quiet Period Expiration

The quiet period for Emerald Expositions (NYSE: EEX) is scheduled to expire on 5.23.

At that time, its underwriters will be able to conduct analyses and release detailed positive reports and recommendations for the first time since the company’s IPO on 4.27. The underwriters include: BofA Merrill Lynch, Barclays, Goldman Sachs, Citi, Credit Suisse, Deutsche Bank, RBC Capital Markets, and Baird.

For the past five years, our firm has studied price movement around IPO quiet period expirations and found abnormal positive returns in the day (-5) to day (+2) range, surrounding the quiet period expiration event day (0).

We first covered Emerald Expositions ahead of its IPO on our IPO Insights platform and recommended investors consider purchasing shares given its strong position in a growing industry, steady revenue growth, and improving gross margins. We view the upcoming quiet period expiration as a second buying opportunity for this growing firm.

Business overview

Emerald Expositions owns and operates business-to-business trade shows throughout the US and as of its IPO was operating 50 trade show events annually. Its trade shows operate in all industries including: general merchandise, sports, hospitality and retail design, jewelry, photography, decorated apparel, building, healthcare, and military.

Emerald Expositions began operations in 1994 and has grown through a series of acquisitions. In 2013, it was acquired by PE firm Onex.

(Company Website)

Management

David Loechner currently services as CEO, president, and board member. He was previously the Senior Vice President (2006 – 2010) at the company before taking over the CEO role. Loechner has over 33 years of experience in the trade show industry and holds a B.A. in Business Administration from Principia College.

Philip Evans has served as CFO and Treasurer since joining the company in October 2013. Previously, he was CFO of ProQuest LLC (2009 – 2013). Evans holds a B.A. (Honors) in Accounting & Finance from the University of Lancaster.

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Author: Travis Esquivel

Travis Esquivel is an engineer, passionate soccer player and full-time dad. He enjoys writing about innovation and technology from time to time.

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