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 (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
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.