Weiss Ratings Reiterates Hold (C) Rating for Alliance Entertainment (NASDAQ:AENT)

Alliance Entertainment (NASDAQ:AENT)‘s stock had its “hold (c)” rating reissued by research analysts at Weiss Ratings in a report released on Wednesday,Weiss Ratings reports.

Several other equities analysts have also issued reports on the stock. Maxim Group started coverage on shares of Alliance Entertainment in a report on Tuesday, July 1st. They issued a “buy” rating and a $10.00 price target on the stock. Noble Financial started coverage on shares of Alliance Entertainment in a report on Monday. They set an “outperform” rating and a $11.00 price objective on the stock. Wall Street Zen lowered shares of Alliance Entertainment from a “strong-buy” rating to a “buy” rating in a report on Friday, September 5th. Finally, Industrial Alliance Securities set a $11.00 price objective on shares of Alliance Entertainment in a report on Monday. Two equities research analysts have rated the stock with a Buy rating and two have assigned a Hold rating to the company. According to MarketBeat.com, the company has an average rating of “Moderate Buy” and a consensus price target of $10.67.

Alliance Entertainment Price Performance

NASDAQ AENT opened at $6.65 on Wednesday. The firm’s fifty day simple moving average is $5.98 and its two-hundred day simple moving average is $4.44. The company has a current ratio of 1.26, a quick ratio of 0.67 and a debt-to-equity ratio of 0.65. Alliance Entertainment has a 12-month low of $2.21 and a 12-month high of $11.57. The firm has a market capitalization of $338.86 million, a P/E ratio of 22.17 and a beta of 0.50.

Alliance Entertainment (NASDAQ:AENT) last released its quarterly earnings results on Wednesday, September 10th. The company reported $0.11 earnings per share (EPS) for the quarter. Alliance Entertainment had a net margin of 1.42% and a return on equity of 18.35%. The business had revenue of $227.75 million for the quarter.

Institutional Inflows and Outflows

A number of large investors have recently modified their holdings of AENT. Clarity Capital Partners LLC raised its position in shares of Alliance Entertainment by 43,251.1% in the first quarter. Clarity Capital Partners LLC now owns 23,463,801 shares of the company’s stock worth $78,604,000 after acquiring an additional 23,409,676 shares during the period. Bridgeway Capital Management LLC raised its position in shares of Alliance Entertainment by 18.4% during the 2nd quarter. Bridgeway Capital Management LLC now owns 122,075 shares of the company’s stock worth $460,000 after purchasing an additional 18,995 shares during the last quarter. OMERS ADMINISTRATION Corp raised its position in shares of Alliance Entertainment by 179.0% during the 1st quarter. OMERS ADMINISTRATION Corp now owns 27,900 shares of the company’s stock worth $93,000 after purchasing an additional 17,900 shares during the last quarter. XTX Topco Ltd purchased a new position in Alliance Entertainment in the 2nd quarter worth approximately $59,000. Finally, Empowered Funds LLC lifted its stake in Alliance Entertainment by 9.2% in the 1st quarter. Empowered Funds LLC now owns 90,880 shares of the company’s stock worth $304,000 after purchasing an additional 7,683 shares in the last quarter. Institutional investors and hedge funds own 0.27% of the company’s stock.

Alliance Entertainment Company Profile

Alliance Entertainment Holding Corporation operates as a wholesaler, distributor, and e-commerce provider for the entertainment industry worldwide. It offers vinyl records, video games, digital video discs, blu-rays, toys, compact discs, collectibles, and other entertainment and consumer products. The company also provides third party logistics products and services.