Stock of the Day: What’s Global Eagle Entertainment Inc Downside After Today’s Significant Decline?

Stock of the Day: What's Global Eagle Entertainment Inc Downside After Today's Significant Decline?

The stock of Global Eagle Entertainment Inc (NASDAQ:ENT) is a huge mover today! About 221,856 shares traded hands. Global Eagle Entertainment Inc (NASDAQ:ENT) has declined 5.54% since March 9, 2016 and is downtrending. It has underperformed by 12.95% the S&P500.
The move comes after 5 months negative chart setup for the $719.23M company. It was reported on Oct, 12 by Barchart.com. We have $8.16 PT which if reached, will make NASDAQ:ENT worth $57.54 million less.

Analysts await Global Eagle Entertainment Inc (NASDAQ:ENT) to report earnings on November, 4.

Global Eagle Entertainment Inc (NASDAQ:ENT) Ratings Coverage

Out of 3 analysts covering Global Eagle Entertainment (NASDAQ:ENT), 2 rate it a “Buy”, 0 “Sell”, while 1 “Hold”. This means 67% are positive. Global Eagle Entertainment has been the topic of 3 analyst reports since October 8, 2015 according to StockzIntelligence Inc. The rating was maintained by Citigroup with “Buy” on Wednesday, July 20. On Tuesday, October 27 the stock rating was initiated by Needham with “Hold”. Evercore initiated Global Eagle Entertainment Inc (NASDAQ:ENT) rating on Thursday, October 8. Evercore has “Buy” rating and $16 price target.

According to Zacks Investment Research, “Global Eagle Entertainment Inc. offers content and connectivity services for the airline industry. It provides airlines with in-flight video content, e-commerce and information services. Global Eagle Entertainment Inc., formerly known as Global Eagle Acquisition Corp., is headquartered in Los Angeles, California.”

Insitutional Activity: The institutional sentiment decreased to 0.91 in Q2 2016. Its down 0.41, from 1.32 in 2016Q1. The ratio dropped, as 24 funds sold all Global Eagle Entertainment Inc shares owned while 21 reduced positions. 9 funds bought stakes while 32 increased positions. They now own 74.66 million shares or 2.96% less from 76.93 million shares in 2016Q1.
Spot Trading Ltd last reported 2,000 shares in the company. State Street Corporation has invested 0% of its portfolio in Global Eagle Entertainment Inc (NASDAQ:ENT). Price T Rowe Assoc Inc Md accumulated 0% or 12,200 shares. Renaissance Technologies Ltd Liability Corporation reported 658,503 shares or 0.01% of all its holdings. Elk Creek Prtn Lc holds 0.47% of its portfolio in Global Eagle Entertainment Inc (NASDAQ:ENT) for 968,407 shares. State Board Of Administration Of Florida Retirement System reported 10,281 shares or 0% of all its holdings. Blackrock Institutional Co Na holds 1.19M shares or 0% of its portfolio. Swiss National Bank & Trust last reported 0% of its portfolio in the stock. Renaissance Group Inc Limited Co has 44,717 shares for 0.01% of their US portfolio. Vanguard Gru last reported 3.24M shares in the company. Pnc Svcs Gp Inc has 184 shares for 0% of their US portfolio. Rhumbline Advisers holds 0% of its portfolio in Global Eagle Entertainment Inc (NASDAQ:ENT) for 53,082 shares. Invesco Limited has 28,476 shares for 0% of their US portfolio. Walleye Trading has 1,304 shares for 0% of their US portfolio. Morgan Stanley holds 0% or 87,948 shares in its portfolio.

Insider Transactions: Since August 16, 2016, the stock had 0 buys, and 1 insider sale for $28,756 net activity. Chatterjee Aditya sold $28,756 worth of stock or 3,129 shares.

More notable recent Global Eagle Entertainment Inc (NASDAQ:ENT) news were published by: Globenewswire.com which released: “Global Eagle Entertainment Names Tom Severson Chief Financial Officer” on August 24, 2016, also Globenewswire.com with their article: “Global Eagle Entertainment to Present at Three Upcoming Investor Conferences” published on September 07, 2016, Globenewswire.com published: “Global Eagle Entertainment Completes Acquisition of Emerging Markets …” on July 27, 2016. More interesting news about Global Eagle Entertainment Inc (NASDAQ:ENT) were released by: Globenewswire.com and their article: “Global Eagle’s Entertainment in Motion Strikes Agreement With the QYOU to …” published on August 16, 2016 as well as Streetinsider.com‘s news article titled: “Global Eagle Entertainment (ENT) to Acquire Emerging Markets Communications in …” with publication date: May 09, 2016.

ENT Company Profile

Global Eagle Entertainment Inc., incorporated on February 2, 2011, is a well-known provider of aircraft connectivity systems, activities solutions and media content to the travel industry. The Company’s divisions include Connectivity and Content. The Company, through its product and services platform, provide airlines with a range of in-flight solutions, including Wireless Fidelity (Wi-Fi), movies, television, music, interactive software, as well as portable in-flight entertainment (IFE) solutions, content management services, e-commerce solutions and original content development. The Firm deploys its connectivity services across the world to the airline industry, with clients and flights located in North America, the Caribbean, Asia, the Middle East, Africa and Europe. It provides content curating and processing services to the airline, maritime, and non-theatrical industries. The Company’s clients also include Hollywood and international studios.

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