Zacks Investment Research upgraded shares of Global Eagle Entertainment (NASDAQ:ENT) from a hold rating to a buy rating in a research report sent to investors on Wednesday morning, Zacks.com reports. Zacks Investment Research currently has $0.75 price objective on the stock.
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 equities analysts have also recently weighed in on the company. Northland Securities set a $2.00 price target on Global Eagle Entertainment and gave the stock a buy rating in a report on Tuesday, July 2nd. ValuEngine cut Zumiez from a hold rating to a sell rating in a report on Tuesday, July 2nd. Finally, William Blair reiterated a market perform rating on shares of NationalResearchCorp . in a report on Tuesday, March 19th. One investment analyst has rated the stock with a sell rating, two have assigned a hold rating and three have issued a buy rating to the company’s stock. The company has a consensus rating of Hold and an average price target of $1.30.
Global Eagle Entertainment (NASDAQ:ENT) last issued its earnings results on Tuesday, May 14th. The company reported ($0.41) earnings per share (EPS) for the quarter, missing analysts’ consensus estimates of ($0.40) by ($0.01). The business had revenue of $166.62 million during the quarter, compared to analyst estimates of $156.24 million. Sell-side analysts anticipate that Global Eagle Entertainment will post -1.39 earnings per share for the current fiscal year.
In related news, major shareholder Par Investment Partners Lp sold 28,981,072 shares of the firm’s stock in a transaction dated Tuesday, June 4th. The stock was sold at an average price of $0.25, for a total transaction of $7,245,268.00. The sale was disclosed in a legal filing with the Securities & Exchange Commission, which is available through the SEC website. Also, insider Jeffrey A. Leddy bought 400,000 shares of the stock in a transaction that occurred on Friday, June 7th. The shares were purchased at an average price of $0.54 per share, with a total value of $216,000.00. Following the completion of the acquisition, the insider now directly owns 1,249,284 shares in the company, valued at $674,613.36. The disclosure for this purchase can be found here. Over the last quarter, insiders have bought 5,711,012 shares of company stock valued at $1,929,110. Company insiders own 3.70% of the company’s stock.
Institutional investors have recently made changes to their positions in the stock. Two Sigma Securities LLC acquired a new stake in Global Eagle Entertainment in the 4th quarter valued at about $85,000. BlackRock Inc. raised 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 purchasing an additional 4,306 shares in the last quarter. Finally, Frontier Capital Management Co. LLC raised 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 purchasing an additional 282,368 shares in the last quarter. Institutional investors own 74.11% of the company’s stock.
Global Eagle Entertainment Company Profile
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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