Alliance Entertainment Holding Corporation (NASDAQ:AENT) Short Interest Down 15.9% in February

Alliance Entertainment Holding Corporation (NASDAQ:AENT) was the target of a large decline in short interest in February. As of February 27th, there was short interest totaling 420,533 shares, a decline of 15.9% from the February 12th total of 500,254 shares. Currently, 3.7% of the company’s stock are short sold. Based on an average daily trading volume, of 125,958 shares, the days-to-cover ratio is presently 3.3 days. Based on an average daily trading volume, of 125,958 shares, the days-to-cover ratio is presently 3.3 days. Currently, 3.7% of the company’s stock are short sold.

Analysts Set New Price Targets

Several equities analysts recently weighed in on AENT shares. Wall Street Zen lowered shares of Alliance Entertainment from a “strong-buy” rating to a “hold” rating in a research report on Saturday, February 14th. Weiss Ratings reissued a “hold (c)” rating on shares of Alliance Entertainment in a research report on Wednesday, January 21st. Zacks Research lowered shares of Alliance Entertainment from a “hold” rating to a “strong sell” rating in a research note on Tuesday, February 17th. Finally, Maxim Group set a $8.00 price target on shares of Alliance Entertainment in a report on Friday, February 13th. Two analysts have rated the stock with a Buy rating, one has given a Hold rating and one has issued a Sell rating to the company. Based on data from MarketBeat, the company currently has a consensus rating of “Hold” and a consensus target price of $10.00.

Alliance Entertainment Stock Performance

Shares of NASDAQ AENT opened at $6.80 on Tuesday. The business’s 50-day simple moving average is $6.70 and its 200-day simple moving average is $6.74. The company has a debt-to-equity ratio of 0.72, a quick ratio of 0.79 and a current ratio of 1.35. Alliance Entertainment has a 52 week low of $2.21 and a 52 week high of $8.80. The firm has a market cap of $346.53 million, a price-to-earnings ratio of 15.81 and a beta of 0.51.

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

Institutional Inflows and Outflows

A number of hedge funds and other institutional investors have recently bought and sold shares of AENT. Empowered Funds LLC raised its holdings 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 period. Bridgeway Capital Management LLC boosted its holdings in Alliance Entertainment by 8.6% during the fourth quarter. Bridgeway Capital Management LLC now owns 145,927 shares of the company’s stock valued at $1,179,000 after acquiring an additional 11,562 shares during the period. XTX Topco Ltd acquired a new stake in shares of Alliance Entertainment in the second quarter valued at about $59,000. Quadrature Capital Ltd acquired a new stake in shares of Alliance Entertainment in the fourth quarter valued at about $143,000. Finally, Millennium Management LLC increased its stake in shares of Alliance Entertainment by 29.2% in the third quarter. Millennium Management LLC now owns 85,510 shares of the company’s stock worth $582,000 after purchasing an additional 19,325 shares during the period. 0.27% of the stock is currently owned by institutional investors and hedge funds.

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.