Global Eagle Entertainment (NASDAQ:ENT) was downgraded by Zacks Investment Research from a “hold” rating to a “sell” rating in a report released on Wednesday.

According to Zacks, “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. “

ENT has been the subject of several other reports. BidaskClub raised Global Eagle Entertainment from a “hold” rating to a “buy” rating in a research report on Saturday, June 23rd. ValuEngine raised Global Eagle Entertainment from a “sell” rating to a “hold” rating in a research report on Wednesday, May 2nd. Two investment analysts have rated the stock with a sell rating, two have given a hold rating and one has given a buy rating to the stock. The stock has a consensus rating of “Hold” and an average target price of $3.25.

NASDAQ ENT opened at $2.69 on Wednesday. The stock has a market capitalization of $224.91 million, a price-to-earnings ratio of -1.37 and a beta of 1.88. The company has a debt-to-equity ratio of -8.01, a current ratio of 0.96 and a quick ratio of 0.82. Global Eagle Entertainment has a 1-year low of $0.87 and a 1-year high of $3.59.

Global Eagle Entertainment (NASDAQ:ENT) last released its earnings results on Thursday, August 9th. The company reported ($0.50) earnings per share for the quarter, missing the consensus estimate of ($0.30) by ($0.20). The firm had revenue of $165.96 million during the quarter, compared to analyst estimates of $161.11 million. Global Eagle Entertainment had a negative net margin of 42.86% and a negative return on equity of 370.92%. sell-side analysts forecast that Global Eagle Entertainment will post -1.25 earnings per share for the current fiscal year.

In related news, Director Jeffrey Sagansky acquired 25,000 shares of the firm’s stock in a transaction dated Friday, June 1st. The stock was acquired at an average price of $2.38 per share, for a total transaction of $59,500.00. The transaction was disclosed in a document filed with the SEC, which is accessible through the SEC website. Also, Director Harry Sloan acquired 250,000 shares of the firm’s stock in a transaction dated Monday, May 21st. The stock was bought at an average price of $1.59 per share, with a total value of $397,500.00. Following the purchase, the director now directly owns 648,029 shares in the company, valued at approximately $1,030,366.11. The disclosure for this purchase can be found here. Over the last ninety days, insiders acquired 1,479,979 shares of company stock valued at $2,653,350. 3.70% of the stock is currently owned by corporate insiders.

Several institutional investors and hedge funds have recently made changes to their positions in ENT. Fortaleza Asset Management Inc. purchased a new position in shares of Global Eagle Entertainment in the 2nd quarter valued at about $100,000. First Mercantile Trust Co. boosted its stake in shares of Global Eagle Entertainment by 97.0% in the 1st quarter. First Mercantile Trust Co. now owns 89,923 shares of the company’s stock valued at $132,000 after buying an additional 44,275 shares during the period. Engineers Gate Manager LP purchased a new position in shares of Global Eagle Entertainment in the 2nd quarter valued at about $153,000. Jane Street Group LLC purchased a new position in shares of Global Eagle Entertainment in the 2nd quarter valued at about $161,000. Finally, Bronfman E.L. Rothschild L.P. boosted its stake in shares of Global Eagle Entertainment by 226.1% in the 2nd quarter. Bronfman E.L. Rothschild L.P. now owns 75,000 shares of the company’s stock valued at $189,000 after buying an additional 52,000 shares during the period. Institutional investors and hedge funds own 79.34% of the company’s stock.

About Global Eagle Entertainment

Global Eagle Entertainment Inc provides content, connectivity, and digital media solutions for travel industry 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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