Insider Buying: Global Eagle Entertainment Inc (NASDAQ:ENT) Insider Acquires 400,000 Shares of Stock

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Global Eagle Entertainment Inc (NASDAQ:ENT) insider Jeffrey A. Leddy bought 400,000 shares of the firm’s stock in a transaction that occurred on Friday, June 7th. The shares were purchased at an average price of $0.54 per share, for a total transaction of $216,000.00. Following the transaction, the insider now owns 1,249,284 shares of the company’s stock, valued at approximately $674,613.36. The transaction was disclosed in a legal filing with the Securities & Exchange Commission, which can be accessed through this hyperlink.

Shares of NASDAQ ENT traded up $0.06 during midday trading on Wednesday, hitting $0.62. The company’s stock had a trading volume of 18,886 shares, compared to its average volume of 939,383. The firm has a market capitalization of $52.65 million, a PE ratio of -0.23 and a beta of 1.32. Global Eagle Entertainment Inc has a 1-year low of $0.42 and a 1-year high of $3.16.

Global Eagle Entertainment (NASDAQ:ENT) last issued its quarterly earnings results on Tuesday, May 14th. The company reported ($0.41) earnings per share for the quarter, missing analysts’ consensus estimates of ($0.40) by ($0.01). The firm had revenue of $166.62 million for the quarter, compared to the consensus estimate of $156.24 million. Equities research analysts expect that Global Eagle Entertainment Inc will post -1.5 earnings per share for the current year.

A number of analysts recently issued reports on ENT shares. Zacks Investment Research lowered shares of Global Eagle Entertainment from a “hold” rating to a “strong sell” rating in a research report on Tuesday, March 19th. William Blair lowered shares of Global Eagle Entertainment from a “market perform” rating to an “underperform” rating and set a $1.16 price target on the stock. in a report on Tuesday, March 19th. Finally, Northland Securities set a $5.00 target price on shares of Global Eagle Entertainment and gave the company a “buy” rating in a research note on Tuesday, March 26th. One research 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. The company has a consensus rating of “Hold” and an average target price of $3.05.

Several hedge funds have recently added to or reduced their stakes in the company. Jane Street Group LLC acquired a new position in Global Eagle Entertainment during the 1st quarter worth about $27,000. Two Sigma Securities LLC acquired a new position in Global Eagle Entertainment during the 4th quarter worth about $85,000. JPMorgan Chase & Co. acquired a new position in Global Eagle Entertainment during the 1st quarter worth about $46,000. ExodusPoint Capital Management LP lifted its holdings in Global Eagle Entertainment by 126.0% during the 1st quarter. ExodusPoint Capital Management LP now owns 100,893 shares of the company’s stock worth $72,000 after buying an additional 56,242 shares during the period. Finally, Charles Schwab Investment Management Inc. lifted its holdings in Global Eagle Entertainment by 14.2% during the 1st quarter. Charles Schwab Investment Management Inc. now owns 187,713 shares of the company’s stock worth $134,000 after buying an additional 23,269 shares during the period. Institutional investors and hedge funds own 74.11% of the company’s stock.

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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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