Alliance Entertainment (NASDAQ:AENT) Upgraded at Zacks Research

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

AENT has been the topic of several other research reports. Wall Street Zen lowered Alliance Entertainment from a “strong-buy” rating to a “hold” rating in a report on Saturday, February 14th. Weiss Ratings restated a “hold (c)” rating on shares of Alliance Entertainment in a research report on Wednesday, January 21st. Finally, Maxim Group set a $8.00 price objective on shares of Alliance Entertainment in a research report on Friday, February 13th. Two analysts have rated the stock with a Buy rating and two have issued a Hold rating to the company. Based on data from MarketBeat.com, Alliance Entertainment has a consensus rating of “Moderate Buy” and an average price target of $10.00.

Alliance Entertainment Stock Performance

NASDAQ:AENT opened at $6.93 on Tuesday. The firm has a market capitalization of $353.13 million, a PE ratio of 16.12 and a beta of 0.39. The business’s fifty day moving average price is $6.41 and its 200 day moving average price is $6.81. The company has a debt-to-equity ratio of 0.72, a current ratio of 1.35 and a quick ratio of 0.79. Alliance Entertainment has a 12 month low of $2.22 and a 12 month high of $8.80.

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

Hedge Funds Weigh In On Alliance Entertainment

Large investors have recently bought and sold shares of the stock. XTX Topco Ltd acquired a new position in Alliance Entertainment in the second quarter valued at $59,000. Quadrature Capital Ltd acquired a new position in Alliance Entertainment in the fourth quarter valued at $143,000. Jacobs Levy Equity Management Inc. acquired a new position in Alliance Entertainment in the third quarter valued at $193,000. Ritholtz Wealth Management acquired a new position in Alliance Entertainment in the third quarter valued at $290,000. Finally, Empowered Funds LLC boosted its stake in Alliance Entertainment by 9.2% in the first quarter. Empowered Funds LLC now owns 90,880 shares of the company’s stock valued at $304,000 after acquiring an additional 7,683 shares in the last quarter. Institutional investors and hedge funds own 0.27% of the company’s stock.

About Alliance Entertainment

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.