A number of other brokerages have also commented on ENT. Northland Securities reaffirmed a buy rating and issued a $1.50 price objective on shares of Global Eagle Entertainment in a report on Friday, August 9th. Zacks Investment Research lowered Global Eagle Entertainment from a buy rating to a hold rating in a report on Tuesday, August 13th. One equities research analyst has rated the stock with a sell rating, four have given a hold rating and one has given a buy rating to the company. Global Eagle Entertainment has an average rating of Hold and a consensus target price of $1.14.
Shares of NASDAQ ENT opened at $0.62 on Thursday. The stock’s fifty day moving average price is $0.69 and its two-hundred day moving average price is $1.16. Global Eagle Entertainment has a one year low of $0.42 and a one year high of $3.05. The firm has a market cap of $58.31 million, a price-to-earnings ratio of -0.24 and a beta of 1.32.
Global Eagle Entertainment (NASDAQ:ENT) last issued its quarterly earnings data on Thursday, August 8th. The company reported ($0.42) EPS for the quarter, missing analysts’ consensus estimates of ($0.33) by ($0.09). The business had revenue of $157.47 million during the quarter, compared to analysts’ expectations of $165.53 million. As a group, research analysts expect that Global Eagle Entertainment will post -1.6 EPS for the current year.
In related news, Director Ronald Steger bought 200,000 shares of the business’s stock in a transaction dated Wednesday, June 5th. The stock was purchased at an average cost of $0.50 per share, for a total transaction of $100,000.00. Following the transaction, the director now owns 209,379 shares in the company, valued at approximately $104,689.50. The acquisition was disclosed in a legal filing with the SEC, which is available through this hyperlink. Also, insider Jeffrey A. Leddy bought 400,000 shares of the business’s stock in a transaction dated Friday, June 7th. The shares were bought at an average price of $0.54 per share, with a total value of $216,000.00. Following the completion of the transaction, the insider now owns 1,249,284 shares in the company, valued at approximately $674,613.36. The disclosure for this purchase can be found here. Over the last ninety days, insiders acquired 5,651,012 shares of company stock worth $1,851,710. Insiders own 8.70% of the company’s stock.
Several large investors have recently added to or reduced their stakes in ENT. Searchlight Capital Partners L.P. lifted its position in shares of Global Eagle Entertainment by 257.5% during the 2nd quarter. Searchlight Capital Partners L.P. now owns 6,941,707 shares of the company’s stock worth $4,512,000 after buying an additional 5,000,000 shares during the last quarter. Frontier Capital Management Co. LLC lifted its position in shares of Global Eagle Entertainment by 5.0% during the 1st quarter. Frontier Capital Management Co. LLC now owns 5,934,107 shares of the company’s stock worth $4,210,000 after buying an additional 282,368 shares during the last quarter. Wells Fargo & Company MN lifted its position in shares of Global Eagle Entertainment by 2.1% during the 2nd quarter. Wells Fargo & Company MN now owns 1,225,451 shares of the company’s stock worth $797,000 after buying an additional 24,787 shares during the last quarter. Tenzing Global Management LLC lifted its position in shares of Global Eagle Entertainment by 46.7% during the 2nd quarter. Tenzing Global Management LLC now owns 1,100,000 shares of the company’s stock worth $715,000 after buying an additional 350,000 shares during the last quarter. Finally, BlackRock Inc. lifted its position in shares of Global Eagle Entertainment by 0.5% during the 4th quarter. BlackRock Inc. now owns 866,717 shares of the company’s stock worth $1,933,000 after buying an additional 4,306 shares during the last quarter. Hedge funds and other institutional investors own 73.92% of the company’s stock.
About Global Eagle Entertainment
Global Eagle Entertainment Inc provides media and satellite-based connectivity to enterprise, consumer, and government markets worldwide. The company operates through two segments, Media & Content and Connectivity. The Media & Content buys, produces, manages, distributes, and provides post-production services and wholly-owned and licensed media content, video and music programming, advertising, applications, and video games for and to the airline, maritime, and other away from home non-theatrical markets.
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