Insider Buying: Global Eagle Entertainment Inc (NASDAQ:ENT) Director Acquires 200,000 Shares of Stock

Global Eagle Entertainment Inc (NASDAQ:ENT) Director Ronald Steger acquired 200,000 shares of Global Eagle Entertainment stock in a transaction that occurred on Wednesday, June 5th. The shares were purchased at an average cost of $0.50 per share, with a total value of $100,000.00. Following the completion of the acquisition, the director now owns 209,379 shares of the company’s stock, valued at approximately $104,689.50. The transaction was disclosed in a document filed with the SEC, which can be accessed through this link.

Shares of NASDAQ ENT traded up $0.02 during trading on Friday, reaching $0.69. The company had a trading volume of 27,366 shares, compared to its average volume of 1,561,802. Global Eagle Entertainment Inc has a twelve month low of $0.42 and a twelve month high of $3.16. The stock has a market cap of $60.49 million, a price-to-earnings ratio of -0.27 and a beta of 1.32.

Global Eagle Entertainment (NASDAQ:ENT) last released its quarterly earnings results on Tuesday, May 14th. The company reported ($0.41) earnings per share for the quarter, missing the Zacks’ consensus estimate of ($0.40) by ($0.01). The firm had revenue of $166.62 million during the quarter, compared to the consensus estimate of $156.24 million. As a group, analysts forecast that Global Eagle Entertainment Inc will post -1.5 EPS for the current fiscal year.

A number of equities analysts have recently weighed in on ENT shares. William Blair cut Global Eagle Entertainment from a “market perform” rating to an “underperform” rating and set a $1.16 price target for the company. in a report on Tuesday, March 19th. Northland Securities set a $5.00 price target on Global Eagle Entertainment and gave the stock a “buy” rating in a report on Tuesday, March 26th. Finally, Zacks Investment Research cut Global Eagle Entertainment from a “hold” rating to a “strong sell” rating in a report on Tuesday, March 19th. One research analyst has rated the stock with a sell rating, four have assigned a hold rating and one has given a buy rating to the company. Global Eagle Entertainment presently has an average rating of “Hold” and a consensus target price of $1.89.

Several hedge funds and other institutional investors have recently added to or reduced their stakes in ENT. Jane Street Group LLC purchased a new stake in shares of Global Eagle Entertainment in the first quarter valued at $27,000. JPMorgan Chase & Co. purchased a new stake in shares of Global Eagle Entertainment in the first quarter valued at $46,000. ExodusPoint Capital Management LP grew its position in shares of Global Eagle Entertainment by 126.0% in the first quarter. ExodusPoint Capital Management LP now owns 100,893 shares of the company’s stock valued at $72,000 after purchasing an additional 56,242 shares during the period. Two Sigma Securities LLC purchased a new stake in shares of Global Eagle Entertainment in the fourth quarter valued at $85,000. Finally, Charles Schwab Investment Management Inc. grew its position in Global Eagle Entertainment by 14.2% during the first quarter. Charles Schwab Investment Management Inc. now owns 187,713 shares of the company’s stock valued at $134,000 after acquiring an additional 23,269 shares during the period. 74.11% of the stock is owned by institutional investors.

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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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