Penserra Capital Management LLC grew its stake in Global Eagle Entertainment Inc (NASDAQ:ENT) by 126.7% during the 3rd quarter, according to its most recent disclosure with the Securities and Exchange Commission. The institutional investor owned 144,457 shares of the company’s stock after acquiring an additional 80,743 shares during the quarter. Penserra Capital Management LLC owned 0.16% of Global Eagle Entertainment worth $104,000 at the end of the most recent quarter.
Other institutional investors also recently added to or reduced their stakes in the company. Jacobs Levy Equity Management Inc. lifted its stake in shares of Global Eagle Entertainment by 103.1% in the second quarter. Jacobs Levy Equity Management Inc. now owns 423,649 shares of the company’s stock worth $275,000 after buying an additional 215,041 shares in the last quarter. Wells Fargo & Company MN increased its position in shares of Global Eagle Entertainment by 2.1% during the second quarter. Wells Fargo & Company MN now owns 1,225,451 shares of the company’s stock valued at $797,000 after acquiring an additional 24,787 shares in the last quarter. Tenzing Global Management LLC raised its holdings in Global Eagle Entertainment by 46.7% in the 2nd quarter. Tenzing Global Management LLC now owns 1,100,000 shares of the company’s stock worth $715,000 after acquiring an additional 350,000 shares during the last quarter. Finally, Searchlight Capital Partners L.P. raised its holdings in Global Eagle Entertainment by 257.5% in the 2nd quarter. Searchlight Capital Partners L.P. now owns 6,941,707 shares of the company’s stock worth $4,512,000 after acquiring an additional 5,000,000 shares during the last quarter. 58.35% of the stock is currently owned by institutional investors and hedge funds.
Shares of NASDAQ:ENT opened at $0.46 on Tuesday. Global Eagle Entertainment Inc has a fifty-two week low of $0.40 and a fifty-two week high of $2.80. The business has a 50-day simple moving average of $0.58 and a two-hundred day simple moving average of $0.68.
Global Eagle Entertainment (NASDAQ:ENT) last announced its quarterly earnings results on Thursday, November 7th. The company reported ($0.45) earnings per share (EPS) for the quarter, missing analysts’ consensus estimates of ($0.39) by ($0.06). The firm had revenue of $169.89 million for the quarter, compared to analysts’ expectations of $159.33 million. Sell-side analysts forecast that Global Eagle Entertainment Inc will post -1.65 earnings per share for the current year.
Several analysts have commented on ENT shares. Northland Securities reiterated a “buy” rating and set a $1.50 target price on shares of Global Eagle Entertainment in a research note on Friday, August 9th. Zacks Investment Research lowered Global Eagle Entertainment from a “hold” rating to a “sell” rating in a report on Monday, October 14th. Finally, ValuEngine cut Global Eagle Entertainment from a “buy” rating to a “hold” rating in a research note on Tuesday, November 19th.
Global Eagle Entertainment 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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