Global Eagle Entertainment’s (ENT) “Hold” Rating Reiterated at Canaccord Genuity

Global Eagle Entertainment (NASDAQ:ENT)‘s stock had its “hold” rating reissued by analysts at Canaccord Genuity in a report issued on Thursday. They presently have a $0.20 price target on the stock. Canaccord Genuity’s target price would indicate a potential downside of 91.45% from the company’s current price.

Several other analysts have also recently weighed in on ENT. Zacks Investment Research cut Global Eagle Entertainment from a “buy” rating to a “hold” rating in a report on Thursday, November 15th. ValuEngine cut Global Eagle Entertainment from a “buy” rating to a “hold” rating in a report on Wednesday, August 8th. Finally, BidaskClub raised Global Eagle Entertainment from a “sell” rating to a “hold” rating in a report on Saturday, September 29th. Five research analysts have rated the stock with a hold rating, The company currently has an average rating of “Hold” and a consensus target price of $1.60.

Shares of NASDAQ:ENT traded up $0.19 on Thursday, hitting $2.34. The company’s stock had a trading volume of 200,966 shares, compared to its average volume of 168,061. Global Eagle Entertainment has a 1 year low of $0.87 and a 1 year high of $3.22. The stock has a market cap of $197.15 million, a P/E ratio of -1.19 and a beta of 1.67.

Global Eagle Entertainment (NASDAQ:ENT) last released its quarterly earnings results on Thursday, November 8th. The company reported ($0.47) earnings per share for the quarter, missing the consensus estimate of ($0.28) by ($0.19). Global Eagle Entertainment had a negative net margin of 40.53% and a negative return on equity of 370.92%. The business had revenue of $164.03 million during the quarter, compared to analysts’ expectations of $168.65 million. As a group, equities analysts expect that Global Eagle Entertainment will post -1.78 earnings per share for the current fiscal year.

Several hedge funds and other institutional investors have recently made changes to their positions in the stock. LLBH Private Wealth Management LLC raised its holdings in shares of Global Eagle Entertainment by 59.5% during the 2nd quarter. LLBH Private Wealth Management LLC now owns 1,339,841 shares of the company’s stock valued at $3,376,000 after buying an additional 499,900 shares in the last quarter. Tenzing Global Management LLC purchased a new position in shares of Global Eagle Entertainment during the 2nd quarter valued at about $3,276,000. Fuller & Thaler Asset Management Inc. purchased a new position in shares of Global Eagle Entertainment during the 2nd quarter valued at about $2,100,000. Phoenix Investment Adviser LLC raised its holdings in shares of Global Eagle Entertainment by 23.8% during the 2nd quarter. Phoenix Investment Adviser LLC now owns 338,142 shares of the company’s stock valued at $852,000 after buying an additional 65,008 shares in the last quarter. Finally, Paloma Partners Management Co purchased a new position in shares of Global Eagle Entertainment during the 2nd quarter valued at about $620,000. 70.80% of the stock is currently owned by institutional investors.

About Global Eagle Entertainment

Global Eagle Entertainment Inc provides content, connectivity, and digital media solutions for travel industry 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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