Global Eagle Entertainment Inc. Buyback
OLI recorded this information on 3/29/2016
Global Eagle Entertainment Inc.
Global Eagle Entertainment Inc. (Nasdaq:ENT) ("GEE"), a worldwide provider of aircraft connectivity systems, operations solutions and media content to the travel industry, today announced that its Board of Directors has authorized a stock repurchase program, under which GEE may repurchase up to $50 million of its outstanding shares of common stock, equivalent to approximately 8% of its 79 million diluted shares outstanding, based on the closing price of GEE's common stock on March 28, 2016.
Global Eagle Entertainment is a provider of media and satellite-based connectivity to global mobility markets across air, land and sea. Co. has two operating segments: Media & Content, which buys, produces, manages and distributes wholly-owned and licensed media content, video and music programming, advertising, applications and video games, and provides post-production services, for and to customers in the airline, maritime and other away-from-home non-theatrical markets; and Connectivity, which provides satellite-based passenger connectivity for single-aisle airliners, cruise ships, and other maritime, enterprise and government markets.
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Hold (2.00 out of 4)
(ranked lower than approx. 54% of all stocks covered)
Based on Zacks ABR data;
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