Zacks Investment Research upgraded shares of Global Eagle Entertainment (NASDAQ:ENT) from a sell rating to a hold rating in a research report released on Monday morning.
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. “
Other equities research analysts have also issued reports about the stock. BidaskClub upgraded shares of Global Eagle Entertainment from a hold rating to a buy rating in a report on Saturday, June 23rd. ValuEngine upgraded shares of Global Eagle Entertainment from a hold rating to a buy rating in a report on Tuesday, June 12th. One research analyst has rated the stock with a sell rating, three have given a hold rating and one has assigned a buy rating to the stock. Global Eagle Entertainment currently has an average rating of Hold and an average target price of $3.25.
Shares of ENT stock opened at $2.58 on Monday. The company has a current ratio of 0.96, a quick ratio of 0.82 and a debt-to-equity ratio of -8.01. Global Eagle Entertainment has a one year low of $0.87 and a one year high of $3.59. The company has a market capitalization of $251.02 million, a PE ratio of -1.31 and a beta of 1.88.
Global Eagle Entertainment (NASDAQ:ENT) last issued its quarterly earnings data on Thursday, August 9th. The company reported ($0.50) EPS for the quarter, missing the consensus estimate of ($0.30) by ($0.20). The company had revenue of $165.96 million during the quarter, compared to analyst estimates of $161.11 million. Global Eagle Entertainment had a negative return on equity of 370.92% and a negative net margin of 42.86%. equities analysts expect that Global Eagle Entertainment will post -1.47 earnings per share for the current year.
In other news, Director Jeffrey Sagansky acquired 25,000 shares of Global Eagle Entertainment stock in a transaction dated Friday, June 1st. The shares were acquired at an average cost of $2.38 per share, for a total transaction of $59,500.00. The acquisition was disclosed in a document filed with the SEC, which is available at this link. 3.70% of the stock is owned by corporate insiders.
Several institutional investors and hedge funds have recently made changes to their positions in the company. Jane Street Group LLC acquired a new stake in shares of Global Eagle Entertainment in the 2nd quarter valued at $161,000. Millennium Management LLC raised its holdings in shares of Global Eagle Entertainment by 21.6% in the 2nd quarter. Millennium Management LLC now owns 216,854 shares of the company’s stock valued at $546,000 after purchasing an additional 38,540 shares in the last quarter. Alpine Global Management LLC acquired a new stake in shares of Global Eagle Entertainment in the 2nd quarter valued at $264,000. Tenzing Global Management LLC acquired a new stake in shares of Global Eagle Entertainment in the 2nd quarter valued at $3,276,000. Finally, Paloma Partners Management Co acquired a new stake in shares of Global Eagle Entertainment in the 2nd quarter valued at $620,000. Institutional investors and hedge funds own 73.53% of the company’s stock.
Global Eagle Entertainment Company Profile
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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