Alliance Entertainment (NASDAQ:AENT) Shares Down 1% – Should You Sell?

Alliance Entertainment Holding Corporation (NASDAQ:AENT)’s share price dropped 1% during mid-day trading on Tuesday . The company traded as low as $5.66 and last traded at $5.86. Approximately 7,790 shares traded hands during trading, a decline of 52% from the average daily volume of 16,169 shares. The stock had previously closed at $5.92.

Wall Street Analyst Weigh In

AENT has been the subject of several analyst reports. Zacks Research upgraded shares of Alliance Entertainment from a “strong sell” rating to a “hold” rating in a research report on Tuesday, April 14th. Weiss Ratings upgraded shares of Alliance Entertainment from a “hold (c)” rating to a “hold (c+)” rating in a research report on Wednesday, June 17th. One investment analyst has rated the stock with a Buy rating and two have assigned a Hold rating to the company’s stock. According to data from MarketBeat.com, the company has an average rating of “Hold” and a consensus price target of $10.00.

Alliance Entertainment Trading Down 1.0%

The business’s 50 day simple moving average is $5.91 and its two-hundred day simple moving average is $6.54. The stock has a market cap of $298.68 million, a P/E ratio of 13.32 and a beta of 0.42. The company has a quick ratio of 0.63, a current ratio of 1.33 and a debt-to-equity ratio of 0.54.

Alliance Entertainment (NASDAQ:AENT) last announced its quarterly earnings results on Thursday, May 14th. The company reported $0.05 earnings per share (EPS) for the quarter, topping the consensus estimate of $0.02 by $0.03. Alliance Entertainment had a net margin of 2.01% and a return on equity of 19.91%. The company had revenue of $258.20 million during the quarter, compared to the consensus estimate of $226.09 million. As a group, analysts expect that Alliance Entertainment Holding Corporation will post 0.35 EPS for the current year.

Hedge Funds Weigh In On Alliance Entertainment

A number of institutional investors and hedge funds have recently bought and sold shares of AENT. North Star Investment Management Corp. raised its position in Alliance Entertainment by 102.4% in the first quarter. North Star Investment Management Corp. now owns 168,000 shares of the company’s stock valued at $1,100,000 after purchasing an additional 85,000 shares during the last quarter. Bridgeway Capital Management LLC grew its holdings in shares of Alliance Entertainment by 8.6% during the fourth quarter. Bridgeway Capital Management LLC now owns 145,927 shares of the company’s stock worth $1,179,000 after purchasing an additional 11,562 shares during the last quarter. Empowered Funds LLC increased its stake in shares of Alliance Entertainment by 9.8% in the first quarter. Empowered Funds LLC now owns 135,837 shares of the company’s stock valued at $890,000 after buying an additional 12,110 shares during the period. O Shaughnessy Asset Management LLC increased its stake in shares of Alliance Entertainment by 91.5% in the fourth quarter. O Shaughnessy Asset Management LLC now owns 130,855 shares of the company’s stock valued at $1,057,000 after buying an additional 62,510 shares during the period. Finally, Ritholtz Wealth Management raised its holdings in Alliance Entertainment by 26.7% in the 1st quarter. Ritholtz Wealth Management now owns 96,479 shares of the company’s stock valued at $632,000 after buying an additional 20,358 shares during 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.