Shares of Global Eagle Entertainment Inc (NASDAQ:ENT) have been given an average recommendation of “Hold” by the six ratings firms that are currently covering the company, Marketbeat reports. One analyst has rated the stock with a sell recommendation, two have issued a hold recommendation and three have issued a buy recommendation on the company. The average 1-year price objective among brokerages that have updated their coverage on the stock in the last year is $1.30.
ENT has been the subject of several recent analyst reports. Northland Securities set a $2.00 price objective on shares of Global Eagle Entertainment and gave the stock a “buy” rating in a research note on Tuesday, July 2nd. ValuEngine raised shares of Global Eagle Entertainment from a “hold” rating to a “buy” rating in a research note on Tuesday, July 2nd. Finally, Zacks Investment Research raised shares of Global Eagle Entertainment from a “hold” rating to a “buy” rating and set a $0.75 price objective for the company in a research note on Wednesday, July 17th.
Shares of ENT stock traded down $0.02 on Monday, reaching $0.75. The company’s stock had a trading volume of 7,320 shares, compared to its average volume of 227,488. The stock’s fifty day simple moving average is $0.69. Global Eagle Entertainment has a 1 year low of $0.42 and a 1 year high of $3.05. The stock has a market capitalization of $71.50 million, a P/E ratio of -0.29 and a beta of 1.32.
In other news, major shareholder Par Investment Partners Lp sold 28,981,072 shares of the business’s stock in a transaction on Tuesday, June 4th. The shares were sold at an average price of $0.25, for a total transaction of $7,245,268.00. The sale was disclosed in a document filed with the Securities & Exchange Commission, which can be accessed through this link. Also, insider Tbo-W L.P. Searchlight II bought 5,000,000 shares of the stock in a transaction dated Wednesday, June 5th. The shares were bought at an average cost of $0.30 per share, with a total value of $1,500,000.00. The disclosure for this purchase can be found here. Insiders have acquired 5,711,012 shares of company stock valued at $1,929,110 over the last ninety days. 8.70% of the stock is owned by insiders.
A hedge fund recently raised its stake in Global Eagle Entertainment stock. Frontier Capital Management Co. LLC grew its stake in shares of Global Eagle Entertainment Inc (NASDAQ:ENT) by 5.0% in the first quarter, according to its most recent disclosure with the Securities and Exchange Commission. The firm owned 5,934,107 shares of the company’s stock after purchasing an additional 282,368 shares during the quarter. Frontier Capital Management Co. LLC owned approximately 6.45% of Global Eagle Entertainment worth $4,210,000 at the end of the most recent quarter. Institutional investors own 73.90% of the company’s stock.
About Global Eagle Entertainment
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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