Shares of Global Eagle Entertainment Inc (NASDAQ:ENT) have been given an average broker rating score of 3.00 (Hold) from the three brokers that cover the stock, Zacks Investment Research reports. One equities research analyst has rated the stock with a strong sell recommendation, one has issued a hold recommendation and one has assigned a strong buy recommendation to the company.
Brokerages have set a one year consensus price target of $2.88 for the company and are forecasting that the company will post ($0.30) earnings per share for the current quarter, according to Zacks. Zacks has also assigned Global Eagle Entertainment an industry rank of 93 out of 255 based on the ratings given to related companies.
Several equities research analysts recently weighed in on ENT shares. William Blair restated a “market perform” rating on shares of Global Eagle Entertainment in a research report on Monday, April 9th. Zacks Investment Research upgraded shares of Global Eagle Entertainment from a “strong sell” rating to a “hold” rating in a research report on Friday, April 6th. ValuEngine upgraded shares of Global Eagle Entertainment from a “hold” rating to a “buy” rating in a research report on Tuesday, June 12th. Finally, BidaskClub upgraded shares of Global Eagle Entertainment from a “hold” rating to a “buy” rating in a research report on Saturday.
ENT traded down $0.02 during trading hours on Friday, hitting $2.88. The company’s stock had a trading volume of 6,115,633 shares, compared to its average volume of 875,344. Global Eagle Entertainment has a 12 month low of $0.87 and a 12 month high of $3.84. The stock has a market capitalization of $264.07 million, a PE ratio of -1.46 and a beta of 1.97. The company has a debt-to-equity ratio of -20.53, a quick ratio of 1.32 and a current ratio of 1.46.
Global Eagle Entertainment (NASDAQ:ENT) last announced its quarterly earnings results on Tuesday, May 15th. The company reported ($0.42) earnings per share for the quarter, missing the consensus estimate of ($0.40) by ($0.02). Global Eagle Entertainment had a negative return on equity of 370.92% and a negative net margin of 43.28%. The business had revenue of $156.50 million during the quarter, compared to the consensus estimate of $158.10 million. research analysts forecast that Global Eagle Entertainment will post -1.25 earnings per share for the current year.
In other news, EVP Wale Adepoju acquired 18,500 shares of the business’s stock in a transaction on Friday, May 18th. The shares were acquired at an average price of $1.37 per share, for a total transaction of $25,345.00. Following the completion of the transaction, the executive vice president now directly owns 234,667 shares of the company’s stock, valued at approximately $321,493.79. The acquisition was disclosed in a legal filing with the SEC, which is available through this hyperlink. Also, insider Tbo-W L.P. Searchlight II acquired 568,800 shares of the business’s stock in a transaction on Friday, May 18th. The shares were purchased at an average price of $1.20 per share, for a total transaction of $682,560.00. Following the transaction, the insider now directly owns 368,800 shares of the company’s stock, valued at $442,560. The disclosure for this purchase can be found here. Insiders have acquired 2,313,279 shares of company stock worth $3,661,095 in the last quarter. Company insiders own 3.70% of the company’s stock.
Several hedge funds and other institutional investors have recently bought and sold shares of ENT. First Mercantile Trust Co. grew its holdings in shares of Global Eagle Entertainment by 97.0% in the first quarter. First Mercantile Trust Co. now owns 89,923 shares of the company’s stock worth $132,000 after purchasing an additional 44,275 shares during the last quarter. Millennium Management LLC grew its holdings in shares of Global Eagle Entertainment by 1,125.4% in the first quarter. Millennium Management LLC now owns 178,314 shares of the company’s stock worth $262,000 after purchasing an additional 163,762 shares during the last quarter. Phoenix Investment Adviser LLC grew its holdings in shares of Global Eagle Entertainment by 24.7% in the first quarter. Phoenix Investment Adviser LLC now owns 273,134 shares of the company’s stock worth $402,000 after purchasing an additional 54,034 shares during the last quarter. Finally, Sound Point Capital Management LP bought a new position in shares of Global Eagle Entertainment in the first quarter worth about $3,921,000. Hedge funds and other institutional investors own 80.05% of the company’s stock.
About Global Eagle Entertainment
Global Eagle Entertainment Inc provides content, connectivity, and digital media solutions for travel industry 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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