Global Eagle Entertainment (NASDAQ:ENT) Stock Rating Lowered by ValuEngine

ValuEngine downgraded shares of Global Eagle Entertainment (NASDAQ:ENT) from a buy rating to a hold rating in a research report sent to investors on Thursday morning, ValuEngine reports.

Several other equities analysts have also recently weighed in on the company. Zacks Investment Research cut Global Eagle Entertainment from a buy rating to a hold rating in a report on Tuesday, August 13th. Northland Securities reiterated a buy rating and set a $1.50 price objective on shares of Global Eagle Entertainment in a report on Friday, August 9th. One analyst has rated the stock with a sell rating, four have issued a hold rating and one has issued a buy rating to the company. Global Eagle Entertainment currently has a consensus rating of Hold and an average target price of $1.14.

Shares of ENT opened at $0.62 on Thursday. Global Eagle Entertainment has a 1 year low of $0.42 and a 1 year high of $3.05. The stock has a market cap of $58.31 million, a P/E ratio of -0.24 and a beta of 1.32. The stock’s 50-day moving average price is $0.69 and its two-hundred day moving average price is $1.16.

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

In other Global Eagle Entertainment news, Director Ronald Steger acquired 200,000 shares of the business’s stock in a transaction dated Wednesday, June 5th. The shares were acquired at an average price of $0.50 per share, for a total transaction of $100,000.00. Following the acquisition, the director now directly owns 209,379 shares of the company’s stock, valued at approximately $104,689.50. The acquisition was disclosed in a document filed with the Securities & Exchange Commission, which is available at the SEC website. Also, major shareholder Par Investment Partners Lp sold 28,981,072 shares of Global Eagle Entertainment stock in a transaction dated Tuesday, June 4th. The shares were sold at an average price of $0.25, for a total value of $7,245,268.00. The disclosure for this sale can be found here. Insiders have bought a total of 5,651,012 shares of company stock worth $1,851,710 in the last quarter. 8.70% of the stock is currently owned by company insiders.

Hedge funds and other institutional investors have recently added to or reduced their stakes in the business. Jacobs Levy Equity Management Inc. lifted its stake 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. Tenzing Global Management LLC lifted its stake 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. Wells Fargo & Company MN lifted its stake 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. BlackRock Inc. lifted its stake 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. Finally, Frontier Capital Management Co. LLC lifted its stake 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. Hedge funds and other institutional investors own 73.92% 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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