Alliance Entertainment (NASDAQ:AENT) Shares Down 1.1% – What’s Next?

Alliance Entertainment Holding Corporation (NASDAQ:AENT)’s share price traded down 1.1% during trading on Wednesday . The company traded as low as $5.32 and last traded at $5.44. 14,035 shares traded hands during trading, a decline of 53% from the average session volume of 29,625 shares. The stock had previously closed at $5.50.

Analyst Upgrades and Downgrades

A number of equities analysts recently commented on the company. Zacks Research raised Alliance Entertainment from a “strong sell” rating to a “hold” rating in a research note on Tuesday, April 14th. Weiss Ratings lowered Alliance Entertainment from a “hold (c+)” rating to a “hold (c)” rating in a research note on Wednesday, June 3rd. Maxim Group set a $8.00 price target on Alliance Entertainment in a research note on Friday, February 13th. Finally, Wall Street Zen downgraded Alliance Entertainment from a “strong-buy” rating to a “hold” rating in a research report on Saturday, February 14th. Two analysts have rated the stock with a Buy rating and two have issued a Hold rating to the stock. According to MarketBeat.com, the company presently has a consensus rating of “Moderate Buy” and a consensus target price of $10.00.

Alliance Entertainment Stock Performance

The company has a debt-to-equity ratio of 0.54, a current ratio of 1.33 and a quick ratio of 0.63. The business has a 50-day simple moving average of $6.65 and a 200-day simple moving average of $6.85. The firm has a market capitalization of $273.20 million, a PE ratio of 12.50 and a beta of 0.41.

Alliance Entertainment (NASDAQ:AENT) last issued its quarterly earnings data on Thursday, May 14th. The company reported $0.05 earnings per share (EPS) for the quarter, beating analysts’ consensus estimates of $0.02 by $0.03. Alliance Entertainment had a return on equity of 19.91% and a net margin of 2.01%.The business had revenue of $258.20 million for the quarter, compared to the consensus estimate of $226.09 million. Equities research analysts expect that Alliance Entertainment Holding Corporation will post 0.35 earnings per share for the current fiscal year.

Institutional Investors Weigh In On Alliance Entertainment

A number of institutional investors and hedge funds have recently modified their holdings of the business. Apollon Wealth Management LLC lifted its stake in shares of Alliance Entertainment by 15.6% during the 1st quarter. Apollon Wealth Management LLC now owns 36,980 shares of the company’s stock worth $242,000 after acquiring an additional 5,000 shares during the last quarter. Empowered Funds LLC lifted its stake in shares of Alliance Entertainment by 9.2% during the 1st quarter. Empowered Funds LLC now owns 90,880 shares of the company’s stock worth $304,000 after acquiring an additional 7,683 shares during the last quarter. Kathmere Capital Management LLC bought a new stake in shares of Alliance Entertainment during the 1st quarter worth approximately $68,000. Bridgeway Capital Management LLC lifted its stake in shares of Alliance Entertainment by 8.6% during the 4th quarter. Bridgeway Capital Management LLC now owns 145,927 shares of the company’s stock worth $1,179,000 after acquiring an additional 11,562 shares during the last quarter. Finally, XTX Topco Ltd bought a new stake in shares of Alliance Entertainment during the 2nd quarter worth approximately $59,000. 0.27% of the stock is owned by institutional investors.

Alliance Entertainment Company Profile

Alliance Entertainment (NASDAQ: AENT) is a distributor of physical media and related entertainment products, serving retailers, public libraries and online merchants. The company’s core business revolves around the wholesale distribution of music and video titles on CD, DVD and Blu-ray formats, as well as vinyl records, audiobooks, video games and select gift and novelty items. By maintaining a broad catalog of new and catalog titles, Alliance Entertainment enables brick-and-mortar and e-commerce channels to access an extensive range of products from major and independent labels.

In addition to its product offerings, Alliance Entertainment provides supply-chain and logistics services designed to streamline inventory management and order fulfillment.