Equities research analysts at Northland Securities started coverage on shares of Global Eagle Entertainment (NASDAQ:ENT) in a report released on Thursday, Marketbeat reports. The brokerage set an “outperform” rating and a $1.50 price target on the stock. Northland Securities’ price target indicates a potential upside of 126.48% from the company’s current price.
A number of other research analysts have also recently issued reports on ENT. Zacks Investment Research cut Global Eagle Entertainment from a “hold” rating to a “strong sell” rating in a research note on Tuesday, March 19th. William Blair cut Global Eagle Entertainment from a “market perform” rating to an “underperform” rating and set a $1.16 price objective for the company. in a research note on Tuesday, March 19th. One analyst has rated the stock with a sell rating, four have assigned a hold rating and one has given a buy rating to the stock. The stock has a consensus rating of “Hold” and a consensus target price of $1.89.
Shares of NASDAQ:ENT opened at $0.66 on Thursday. The firm has a market cap of $60.49 million, a price-to-earnings ratio of -0.26 and a beta of 1.32. Global Eagle Entertainment has a 12-month low of $0.42 and a 12-month high of $3.16.
Global Eagle Entertainment (NASDAQ:ENT) last announced its quarterly earnings data on Tuesday, May 14th. The company reported ($0.41) earnings per share (EPS) for the quarter, missing the Zacks’ consensus estimate of ($0.40) by ($0.01). The business had revenue of $166.62 million during the quarter, compared to analyst estimates of $156.24 million. As a group, equities research analysts forecast that Global Eagle Entertainment will post -1.5 EPS for the current fiscal year.
In other Global Eagle Entertainment news, insider Jeffrey A. Leddy acquired 50,000 shares of the company’s stock in a transaction dated Friday, May 17th. The stock was purchased at an average price of $1.15 per share, with a total value of $57,500.00. The acquisition was disclosed in a filing with the Securities & Exchange Commission, which can be accessed through the SEC website. Also, major shareholder Par Investment Partners Lp sold 28,981,072 shares of the company’s stock in a transaction dated Tuesday, June 4th. The stock was sold at an average price of $0.25, for a total value of $7,245,268.00. The disclosure for this sale can be found here. In the last quarter, insiders have purchased 5,711,012 shares of company stock valued at $1,929,110. 3.70% of the stock is owned by company insiders.
Institutional investors have recently made changes to their positions in the stock. Jane Street Group LLC bought a new position in Global Eagle Entertainment during the first quarter valued at approximately $27,000. Two Sigma Securities LLC purchased a new stake in Global Eagle Entertainment during the fourth quarter valued at approximately $85,000. JPMorgan Chase & Co. purchased a new stake in Global Eagle Entertainment during the first quarter valued at approximately $46,000. ExodusPoint Capital Management LP raised its position in Global Eagle Entertainment by 126.0% during the first quarter. ExodusPoint Capital Management LP now owns 100,893 shares of the company’s stock valued at $72,000 after purchasing an additional 56,242 shares during the period. Finally, Charles Schwab Investment Management Inc. raised its position in Global Eagle Entertainment by 14.2% during the first quarter. Charles Schwab Investment Management Inc. now owns 187,713 shares of the company’s stock valued at $134,000 after purchasing an additional 23,269 shares during the period. 74.11% of the stock is owned by institutional investors.
Global Eagle Entertainment Company Profile
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.
Read More: Dividend Aristocrat Index
Receive News & Ratings for Global Eagle Entertainment Daily - Enter your email address below to receive a concise daily summary of the latest news and analysts' ratings for Global Eagle Entertainment and related companies with MarketBeat.com's FREE daily email newsletter.