Zacks Investment Research lowered shares of Global Eagle Entertainment (NASDAQ:ENT) from a hold rating to a sell rating in a research note published on Tuesday, Zacks.com reports.
According to Zacks, “Global Eagle Entertainment Inc. offers content and connectivity services for the airline industry. It provides airlines with in-flight video content, e-commerce and information services. Global Eagle Entertainment Inc., formerly known as Global Eagle Acquisition Corp., is headquartered in Los Angeles, California. “
A number of other analysts have also recently commented on the company. Northland Securities restated a buy rating and issued a $1.50 price target on shares of Global Eagle Entertainment in a research report on Friday, August 9th. ValuEngine cut Global Eagle Entertainment from a buy rating to a hold rating in a research report on Thursday, August 15th. Two analysts have rated the stock with a sell rating, three have assigned a hold rating and one has issued a buy rating to the stock. Global Eagle Entertainment currently has a consensus rating of Hold and an average price target of $1.14.
Global Eagle Entertainment stock opened at $0.63 on Tuesday. Global Eagle Entertainment has a one year low of $0.42 and a one year high of $3.05. The stock has a fifty day moving average of $0.69 and a 200 day moving average of $1.12.
Global Eagle Entertainment (NASDAQ:ENT) last posted 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 company had revenue of $157.47 million during the quarter, compared to the consensus estimate of $165.53 million. As a group, research analysts anticipate that Global Eagle Entertainment will post -1.6 earnings per share for the current year.
In other Global Eagle Entertainment news, insider Jeffrey A. Leddy bought 400,000 shares of the business’s stock in a transaction that occurred on Friday, June 7th. The stock was purchased at an average price of $0.54 per share, for a total transaction of $216,000.00. Following the completion of the transaction, the insider now owns 1,249,284 shares of the company’s stock, valued at approximately $674,613.36. The transaction was disclosed in a legal filing with the Securities & Exchange Commission, which is accessible through the SEC website. Also, Director Ronald Steger bought 50,000 shares of the business’s stock in a transaction that occurred on Monday, August 19th. The shares were acquired at an average price of $0.66 per share, with a total value of $33,000.00. Following the transaction, the director now directly owns 309,379 shares of the company’s stock, valued at approximately $204,190.14. The disclosure for this purchase can be found here. In the last 90 days, insiders acquired 5,695,000 shares of company stock valued at $1,879,600. Company insiders own 8.70% of the company’s stock.
Several large investors have recently added to or reduced their stakes in ENT. Jacobs Levy Equity Management Inc. grew its position in shares of Global Eagle Entertainment by 103.1% during the second quarter. Jacobs Levy Equity Management Inc. now owns 423,649 shares of the company’s stock worth $275,000 after purchasing an additional 215,041 shares in the last quarter. Tenzing Global Management LLC grew its position in shares of Global Eagle Entertainment by 46.7% during the second quarter. Tenzing Global Management LLC now owns 1,100,000 shares of the company’s stock worth $715,000 after purchasing an additional 350,000 shares in the last quarter. Wells Fargo & Company MN grew its position in shares of Global Eagle Entertainment by 2.1% during the second quarter. Wells Fargo & Company MN now owns 1,225,451 shares of the company’s stock worth $797,000 after purchasing an additional 24,787 shares in the last quarter. BlackRock Inc. grew its position in shares of Global Eagle Entertainment by 0.5% during the fourth quarter. BlackRock Inc. now owns 866,717 shares of the company’s stock worth $1,933,000 after purchasing an additional 4,306 shares in the last quarter. Finally, Frontier Capital Management Co. LLC grew its position in shares of Global Eagle Entertainment by 5.0% during the first quarter. Frontier Capital Management Co. LLC now owns 5,934,107 shares of the company’s stock worth $4,210,000 after purchasing an additional 282,368 shares in the last quarter. Hedge funds and other institutional investors own 74.05% 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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