Abrams Capital: Drew Pluhar, Travis Rhodes and Billionaire David Abrams’ Picks

7. Global Eagle Entertainment Inc (NASDAQ:ENT)

Global Eagle Entertainment Inc (NASDAQ:ENT) saw David Abrams’ fund increase its position by 18% over the quarter to 7.0 million shares worth $24.92 million at the end of June. Abrams Capital has held shares of Global Eagle Entertainment Inc (NASDAQ:ENT) since the fourth quarter of 2013 and the stock has lost over 70% since then, as the provider of aircraft connectivity systems missed the bottom line estimates in most quarters. Earlier this year, Global Eagle Entertainment Inc (NASDAQ:ENT) said that it found some weaknesses in its internal controls, which led to the delay of its 10-K filing. In addition, in February the company’s CEO and CFO resigned and the company said its full-year earnings would likely come at the low-end of its previous range of $530 million to $538 million. One of the top shareholders of Global Eagle Entertainment Inc (NASDAQ:ENT) is Paul Reeder and Edward Shapiro’s PAR Capital Management, which owns 28.98 million shares as of the end of June.

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