Global Eagle Entertainment (NASDAQ:ENT) Trading Up 5.2%

Global Eagle Entertainment Inc (NASDAQ:ENT)’s stock price traded up 5.2% during trading on Wednesday . The stock traded as high as $0.83 and last traded at $0.81, 13,793 shares were traded during mid-day trading. A decline of 90% from the average session volume of 138,664 shares. The stock had previously closed at $0.77.

ENT has been the topic of a number of recent research reports. Zacks Investment Research raised Global Eagle Entertainment from a “sell” rating to a “hold” rating in a research note on Wednesday, September 4th. ValuEngine downgraded Global Eagle Entertainment from a “buy” rating to a “hold” rating in a research note on Thursday, August 15th. Finally, Northland Securities restated a “buy” rating and issued a $1.50 target price on shares of Global Eagle Entertainment in a report on Friday, August 9th. One research analyst has rated the stock with a sell rating, four have issued a hold rating and one has given a buy rating to the company’s stock. The stock has a consensus rating of “Hold” and a consensus price target of $1.14.

The stock’s 50 day simple moving average is $0.69 and its two-hundred day simple moving average is $0.94. The firm has a market cap of $67.76 million, a P/E ratio of -0.32 and a beta of 1.22.



Global Eagle Entertainment (NASDAQ:ENT) last issued its earnings results on Thursday, August 8th. The company reported ($0.42) earnings per share for the quarter, missing the consensus estimate of ($0.33) by ($0.09). The company had revenue of $157.47 million for the quarter, compared to the consensus estimate of $165.53 million. On average, analysts forecast that Global Eagle Entertainment Inc will post -1.6 EPS for the current year.

In other Global Eagle Entertainment news, Director Ronald Steger bought 50,000 shares of the company’s stock in a transaction that occurred on Monday, August 19th. The stock was purchased at an average price of $0.66 per share, with a total value of $33,000.00. Following the transaction, the director now owns 309,379 shares in the company, valued at $204,190.14. The transaction was disclosed in a legal filing with the SEC, which is available at this hyperlink. Also, CFO David B. Wyshner acquired 2,000 shares of the company’s stock in a transaction dated Friday, August 16th. The stock was acquired at an average cost of $50.37 per share, with a total value of $100,740.00. Over the last ninety days, insiders have purchased 102,000 shares of company stock valued at $164,990. 8.70% of the stock is currently owned by insiders.

A number of large investors have recently bought and sold shares of ENT. Jacobs Levy Equity Management Inc. increased its holdings in shares of 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 during the last quarter. Tenzing Global Management LLC lifted its stake in shares of 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 worth $715,000 after acquiring an additional 350,000 shares during the period. Wells Fargo & Company MN boosted its stake in Global Eagle Entertainment by 2.1% during the 2nd quarter. Wells Fargo & Company MN now owns 1,225,451 shares of the company’s stock valued at $797,000 after purchasing an additional 24,787 shares in the last quarter. Frontier Capital Management Co. LLC boosted its stake in Global Eagle Entertainment by 5.0% during 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 purchasing an additional 282,368 shares in the last quarter. Finally, Searchlight Capital Partners L.P. increased its position in shares of Global Eagle Entertainment by 257.5% during the 2nd quarter. Searchlight Capital Partners L.P. now owns 6,941,707 shares of the company’s stock valued at $4,512,000 after purchasing an additional 5,000,000 shares during the period. 60.23% of the stock is owned by institutional investors.

About Global Eagle Entertainment (NASDAQ:ENT)

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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