Global Eagle Entertainment (NASDAQ:ENT) Downgraded by Zacks Investment Research

Share on StockTwits

Zacks Investment Research downgraded shares of Global Eagle Entertainment (NASDAQ:ENT) from a hold rating to a sell rating in a research report released on Tuesday morning, 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. “

ENT has been the topic of several other reports. Northland Securities reaffirmed a buy rating and set a $1.50 price objective 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 equities research analysts have rated the stock with a sell rating, three have given a hold rating and one has given a buy rating to the company. Global Eagle Entertainment has a consensus rating of Hold and an average target price of $1.14.

Global Eagle Entertainment stock opened at $0.62 on Tuesday. The stock’s 50 day simple moving average is $0.69 and its two-hundred day simple moving average is $1.13. The stock has a market cap of $58.29 million, a price-to-earnings ratio of -0.24 and a beta of 1.32. Global Eagle Entertainment has a fifty-two week low of $0.42 and a fifty-two week high of $3.05.

Global Eagle Entertainment (NASDAQ:ENT) last posted its quarterly earnings data on Thursday, August 8th. The company reported ($0.42) earnings per share for the quarter, missing the Thomson Reuters’ consensus estimate of ($0.33) by ($0.09). The business had revenue of $157.47 million during the quarter, compared to analyst estimates of $165.53 million. As a group, equities analysts forecast that Global Eagle Entertainment will post -1.6 EPS for the current year.

In related news, insider Jeffrey A. Leddy purchased 400,000 shares of the company’s stock in a transaction dated Friday, June 7th. The shares were purchased at an average cost of $0.54 per share, with a total value of $216,000.00. Following the transaction, the insider now directly owns 1,249,284 shares in the company, valued at approximately $674,613.36. The purchase was disclosed in a document filed with the SEC, which is available through this link. Also, Director Ronald Steger purchased 50,000 shares of the company’s stock in a transaction dated Monday, August 19th. The stock was bought at an average cost of $0.66 per share, for a total transaction of $33,000.00. Following the completion of the transaction, the director now owns 309,379 shares in the company, valued at $204,190.14. The disclosure for this purchase can be found here. Over the last three months, insiders bought 5,695,000 shares of company stock worth $1,879,600. Insiders own 8.70% of the company’s stock.

Institutional investors and hedge funds have recently modified their holdings of the company. BlackRock Inc. lifted its position in Global Eagle Entertainment by 0.5% in the 4th quarter. BlackRock Inc. now owns 866,717 shares of the company’s stock valued at $1,933,000 after acquiring an additional 4,306 shares in the last quarter. Wells Fargo & Company MN lifted its position in Global Eagle Entertainment by 2.1% in the 2nd quarter. Wells Fargo & Company MN now owns 1,225,451 shares of the company’s stock valued at $797,000 after acquiring an additional 24,787 shares in the last quarter. Jacobs Levy Equity Management Inc. lifted its position in Global Eagle Entertainment by 103.1% in the 2nd quarter. Jacobs Levy Equity Management Inc. now owns 423,649 shares of the company’s stock valued at $275,000 after acquiring an additional 215,041 shares in the last quarter. Frontier Capital Management Co. LLC lifted its position in Global Eagle Entertainment by 5.0% in the 1st quarter. Frontier Capital Management Co. LLC now owns 5,934,107 shares of the company’s stock valued at $4,210,000 after acquiring an additional 282,368 shares in the last quarter. Finally, Tenzing Global Management LLC lifted its position in Global Eagle Entertainment by 46.7% in the 2nd quarter. Tenzing Global Management LLC now owns 1,100,000 shares of the company’s stock valued at $715,000 after acquiring an additional 350,000 shares in the last quarter. 74.05% of the stock is currently owned by hedge funds and other institutional investors.

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.

Read More: Real Estate Investment Trust (REIT) ETF

Get a free copy of the Zacks research report on Global Eagle Entertainment (ENT)

For more information about research offerings from Zacks Investment Research, visit Zacks.com

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.



Latest News

Energy Income Partners LLC Buys 39,795 Shares of Mplx Lp
Energy Income Partners LLC Buys 39,795 Shares of Mplx Lp
Chesapeake Utilities Co.  Stock Position Decreased by Energy Income Partners LLC
Chesapeake Utilities Co. Stock Position Decreased by Energy Income Partners LLC
Family Management Corp Sells 4,840 Shares of Nuveen Municipal Value Fund Inc
Family Management Corp Sells 4,840 Shares of Nuveen Municipal Value Fund Inc
Energy Income Partners LLC Sells 21,934 Shares of IDACORP Inc
Energy Income Partners LLC Sells 21,934 Shares of IDACORP Inc
PGIM Global Short Duration Hgh Yd Fd Inc  Shares Bought by Family Management Corp
PGIM Global Short Duration Hgh Yd Fd Inc Shares Bought by Family Management Corp
Energy Income Partners LLC Sells 131,879 Shares of WEC Energy Group Inc
Energy Income Partners LLC Sells 131,879 Shares of WEC Energy Group Inc


© 2006-2019 Ticker Report