Jeffrey A. Leddy Purchases 400,000 Shares of Global Eagle Entertainment Inc (NASDAQ:ENT) Stock

Global Eagle Entertainment Inc (NASDAQ:ENT) insider Jeffrey A. Leddy purchased 400,000 shares of the company’s stock in a transaction on Friday, June 7th. The stock was purchased at an average price of $0.54 per share, with a total value of $216,000.00. Following the completion of the transaction, the insider now owns 1,249,284 shares of the company’s stock, valued at $674,613.36. The acquisition was disclosed in a document filed with the SEC, which is available through this hyperlink.

ENT stock opened at $0.68 on Friday. Global Eagle Entertainment Inc has a one year low of $0.42 and a one year high of $3.16. The firm has a market capitalization of $60.49 million, a PE ratio of -0.26 and a beta of 1.32.

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

Several hedge funds have recently added to or reduced their stakes in ENT. Goldman Sachs Group Inc. lifted its holdings in shares of Global Eagle Entertainment by 106.9% in the first quarter. Goldman Sachs Group Inc. now owns 4,222,787 shares of the company’s stock worth $2,996,000 after buying an additional 2,181,834 shares in the last quarter. Frontier Capital Management Co. LLC lifted its holdings in shares of Global Eagle Entertainment by 5.0% in the first quarter. Frontier Capital Management Co. LLC now owns 5,934,107 shares of the company’s stock worth $4,210,000 after buying an additional 282,368 shares in the last quarter. Renaissance Technologies LLC lifted its holdings in shares of Global Eagle Entertainment by 70.5% in the first quarter. Renaissance Technologies LLC now owns 321,010 shares of the company’s stock worth $228,000 after buying an additional 132,710 shares in the last quarter. Jacobs Levy Equity Management Inc. lifted its holdings in shares of Global Eagle Entertainment by 116.1% in the first quarter. Jacobs Levy Equity Management Inc. now owns 208,608 shares of the company’s stock worth $148,000 after buying an additional 112,094 shares in the last quarter. Finally, JPMorgan Chase & Co. purchased a new position in shares of Global Eagle Entertainment in the first quarter worth $46,000. 74.11% of the stock is currently owned by hedge funds and other institutional investors.

ENT has been the subject of a number of recent analyst reports. William Blair lowered shares of Global Eagle Entertainment from a “market perform” rating to an “underperform” rating and set a $1.16 price target for the company. in a research report on Tuesday, March 19th. Zacks Investment Research upgraded shares of Global Eagle Entertainment from a “sell” rating to a “hold” rating in a research report on Thursday, May 16th. Finally, Northland Securities set a $5.00 price target on shares of Global Eagle Entertainment and gave the stock a “buy” rating in a research report on Tuesday, March 26th. One equities research analyst has rated the stock with a sell rating, four have given a hold rating and one has assigned a buy rating to the stock. The stock currently has a consensus rating of “Hold” and an average target price of $1.89.

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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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