Global Eagle Entertainment Inc. (NASDAQ:ENT) changed 1.61% to recent value of $0.66. The stock transacted 124854 shares during most recent day however it has an average volume of 1058.5K shares. It spotted trading -78.32% off 52-week high price. On the other end, the stock has been noted 58.78% away from the low price over the last 52-weeks.
Global Eagle Entertainment Inc. (NASDAQ:ENT) (“Global Eagle,” the “Company” or “we”), a leading provider of media, content, and connectivity to markets across air, sea and land, declared that it has completed a $40 million upsizing of its Senior Secured Term Loan due 2023 (“Term Loan”), as well as an amendment to its Term Loan (collectively, the “Amendment”) to reduce scheduled principal repayments over the next six quarters by an aggregate of approximately $26 million. Net of fees and expenses, the Amendment will result in approximately $61 million of incremental liquidity over the next 18 months. This supplements the Company’s approximately $49 million of liquidity as of June 30, 2019, which includes cash and unused revolver capacity, and further enables the Company to focus on executing its growth plans.
Josh Marks, Chief Executive Officer of Global Eagle, continued “We are pleased to announce this Amendment, which strengthens our liquidity and positions us to deliver significant long-term shareholder value as we continue our transition to sustainable, positive free cash flow generation.” , “We are grateful for our strong collaborative partnership with our lenders. We see significant opportunities as we continue to serve our customers well and innovate in our markets.”
Christian Mezger, Chief Financial Officer, further commented, “Enhancing liquidity was an important step as we continue to improve the performance of our business. We are excited about our prospects. We continue to build top-line momentum while improving our cost structure as we drive the business to our near-term goal of generating sustainable, positive free cash flow.”
ENT has a gross margin of 19.60% . Its earnings per share (EPS) expected to touch remained 36.40% for this year while earning per share for the next 5-years is expected to reach at 15.00%.
The company has 98.01M of outstanding shares and 78.6M shares were floated in the market. According to the most recent quarter its current ratio was 0.8 that represents company’s ability to meet its current financial obligations. The price moved ahead of -1.30% from the mean of 20 days, -9.51% from mean of 50 days SMA and performed -62.18% from mean of 200 days price. Company’s performance for the week was -5.78%, -11.83% for month and YTD performance remained -70.35%.
Mark Fife – Category – Business
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