Alliance Entertainment (NASDAQ:AENT) Stock Rating Upgraded by Wall Street Zen

Alliance Entertainment (NASDAQ:AENT) was upgraded by equities researchers at Wall Street Zen from a “buy” rating to a “strong-buy” rating in a note issued to investors on Thursday.

Alliance Entertainment Trading Down 1.0%

Shares of NASDAQ:AENT opened at $2.87 on Thursday. The company has a 50 day moving average of $3.00 and a 200-day moving average of $4.70. The company has a current ratio of 1.24, a quick ratio of 0.77 and a debt-to-equity ratio of 0.84. The firm has a market cap of $146.25 million, a P/E ratio of 22.08 and a beta of 0.32. Alliance Entertainment has a twelve month low of $1.10 and a twelve month high of $11.57.

Alliance Entertainment (NASDAQ:AENT) last released its earnings results on Thursday, May 15th. The company reported $0.04 earnings per share for the quarter, topping analysts’ consensus estimates of $0.01 by $0.03. The firm had revenue of $213.05 million during the quarter, compared to the consensus estimate of $210.65 million. Alliance Entertainment had a return on equity of 10.26% and a net margin of 0.62%.

Insider Activity at Alliance Entertainment

In other Alliance Entertainment news, CEO Jeffrey Clinton Walker acquired 36,684 shares of the stock in a transaction dated Wednesday, February 26th. The shares were bought at an average price of $3.85 per share, with a total value of $141,354.46. Following the purchase, the chief executive officer now directly owns 22,972,762 shares of the company’s stock, valued at approximately $88,520,943.81. This trade represents a 0.16% increase in their position. The transaction was disclosed in a document filed with the Securities & Exchange Commission, which is available through this link. Company insiders own 81.90% of the company’s stock.

Institutional Trading of Alliance Entertainment

Large investors have recently added to or reduced their stakes in the business. Empowered Funds LLC bought a new position in shares of Alliance Entertainment in the fourth quarter valued at $754,000. Renaissance Technologies LLC acquired a new position in shares of Alliance Entertainment in the 4th quarter worth $92,000. Marshall Wace LLP acquired a new stake in shares of Alliance Entertainment during the fourth quarter worth $440,000. LPL Financial LLC acquired a new stake in shares of Alliance Entertainment during the fourth quarter worth $130,000. Finally, Bridgeway Capital Management LLC purchased a new stake in shares of Alliance Entertainment during the fourth quarter valued at $864,000. 0.27% of the stock is currently owned by institutional investors.

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.