Alliance Entertainment (NASDAQ:AENT) Cut to Strong Sell at Zacks Research

Zacks Research lowered shares of Alliance Entertainment (NASDAQ:AENT) from a hold rating to a strong sell rating in a research note published on Tuesday,Zacks.com reports.

Several other research analysts have also issued reports on the stock. Weiss Ratings reissued a “hold (c)” rating on shares of Alliance Entertainment in a research note on Wednesday, January 21st. Wall Street Zen lowered Alliance Entertainment from a “strong-buy” rating to a “hold” rating in a report on Saturday, February 14th. Finally, Maxim Group set a $8.00 target price on Alliance Entertainment in a research report on Friday, February 13th. Two equities research analysts have rated the stock with a Buy rating, one has given a Hold rating and one has assigned a Sell rating to the stock. According to data from MarketBeat, the stock currently has a consensus rating of “Hold” and an average price target of $10.00.

Alliance Entertainment Stock Up 1.1%

Shares of NASDAQ AENT opened at $4.67 on Tuesday. The company has a market cap of $237.98 million, a price-to-earnings ratio of 10.86 and a beta of 0.46. The company has a current ratio of 1.35, a quick ratio of 0.79 and a debt-to-equity ratio of 0.72. The stock has a 50-day moving average price of $7.28 and a two-hundred day moving average price of $6.62. Alliance Entertainment has a 12 month low of $2.21 and a 12 month high of $8.80.

Alliance Entertainment (NASDAQ:AENT) last released its quarterly earnings results on Thursday, February 12th. The company reported $0.18 EPS for the quarter, missing analysts’ consensus estimates of $0.31 by ($0.13). Alliance Entertainment had a net margin of 2.06% and a return on equity of 20.53%. The company had revenue of $368.71 million during the quarter, compared to the consensus estimate of $427.38 million.

Institutional Trading of Alliance Entertainment

A number of institutional investors have recently modified their holdings of AENT. XTX Topco Ltd purchased a new stake in shares of Alliance Entertainment during the second quarter worth $59,000. Quadrature Capital Ltd purchased a new position in shares of Alliance Entertainment during the 4th quarter valued at $143,000. Jacobs Levy Equity Management Inc. purchased a new stake in shares of Alliance Entertainment in the third quarter worth $193,000. Ritholtz Wealth Management bought a new position in Alliance Entertainment in the 3rd quarter worth about $290,000. Finally, Empowered Funds LLC increased 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 acquiring an additional 7,683 shares during the last quarter. 0.27% of the stock is currently owned by hedge funds and other 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.