Dear Valued Visitor,

We have noticed that you are using an ad blocker software.

Although advertisements on the web pages may degrade your experience, our business certainly depends on them and we can only keep providing you high-quality research based articles as long as we can display ads on our pages.

To view this article, you can disable your ad blocker and refresh this page or simply login.

We only allow registered users to use ad blockers. You can sign up for free by clicking here or you can login if you are already a member.

Par Capital Reveals Holding 42.03% of Global Eagle Entertainment (ENT)

Par Capital, managed by Paul Reeder and Edward Shapiro has revealed slightly reducing its majority stake in Global Eagle Entertainment (NASDAQ:ENT). The fund currently holds around 29.5 million shares of the company, versus 31.7 million shares held earlier. The position amasses 42.03% of the company’s common stock.

The holding has been reduced by some 2.3 million shares held as Convertible Promissory Note with maturity date on December 20. Global Eagle Entertainment (NASDAQ:ENT) has paid the fund the principal amount of the note, together with accrued, unpaid interest, the filing with the Securities and Exchange Commission stated.

Global Eagle Entertainment

Global Eagle Entertainment (NASDAQ:ENT) is a small cap firm which “provides content and connectivity to the airline industry.” The company has conducted a public offering where it sold 13.34 million shares of common stock, at $14.25 apiece. The net proceeds are estimated at $183.3 million.

About a week ago, Abrams Capital Management, a fund led by David Abrams has revealed initiating a stake in Global Eagle Entertainment (NASDAQ:ENT). Abrams reported owning 3.0 million shares, equal to 6% of the common stock.

Soros Fund Management, run George Soros is another hedge fund that owns shares of Global Eagle Entertainment (NASDAQ:ENT). Soros has accumulated a total of 200,000 shares, which are valued at $1.87 million. North Run Capital, managed by Thomas Ellis and Todd Hammer, has mopped up close to 136,900 shares, valued at $1.28 million. Millennium Management, led by Israel Englander, has reduced its stake in the firm by 39% and currently holds 105,000 shares, worth $981,000.

Par Capital is a hedge fund which exposes its investors to the gains and losses which are seen in the “travel and online media industries”. It boasts of portfolio worth over $3.25 billion. Other than the services sector, the fund also invests in healthcare and basic materials sectors.

Disclosure: none

Recommended Reading:

Greywolf Capital Management Trims Exposure to Rubicon Minerals Corp. (USA) (RBY)

Clinton Group Sells Some More ValueVision Media Inc (VVTV) Shares

Abrams Capital Management Trims the Stake in Engility Holdings Inc (EGL)

DOWNLOAD FREE REPORT: Warren Buffett's Best Stock Picks

Let Warren Buffett, George Soros, Steve Cohen, and Daniel Loeb WORK FOR YOU.

If you want to beat the low cost index funds by 19 percentage points per year, look no further than our monthly newsletter.In this free report you can find an in-depth analysis of the performance of Warren Buffett's entire historical stock picks. We uncovered Warren Buffett's Best Stock Picks and a way to for Buffett to improve his returns by more than 4 percentage points per year.

Bonus Biotech Stock Pick: You can also find a detailed bonus biotech stock pick that we expect to return more than 50% within 12 months.
Subscribe me to Insider Monkey's Free Daily Newsletter
This is a FREE report from Insider Monkey. Credit Card is NOT required.