Alliance Entertainment (NASDAQ:AENT) Earns Outperform Rating from Analysts at Noble Financial

Equities researchers at Noble Financial initiated coverage on shares of Alliance Entertainment (NASDAQ:AENT) in a report issued on Monday,Briefing.com Automated Import reports. The firm set an “outperform” rating and a $11.00 price target on the stock. Noble Financial’s target price suggests a potential upside of 65.17% from the company’s previous close.

A number of other brokerages also recently commented on AENT. Wall Street Zen downgraded Alliance Entertainment from a “strong-buy” rating to a “buy” rating in a research note on Friday, September 5th. Maxim Group assumed coverage on shares of Alliance Entertainment in a research note on Tuesday, July 1st. They set a “buy” rating and a $10.00 price target on the stock. Finally, Weiss Ratings restated a “hold (c)” rating on shares of Alliance Entertainment in a research report on Saturday, September 27th. Two equities research analysts have rated the stock with a Buy rating and one has issued a Hold rating to the stock. Based on data from MarketBeat, Alliance Entertainment currently has an average rating of “Moderate Buy” and an average target price of $10.50.

Alliance Entertainment Trading Down 1.0%

NASDAQ:AENT traded down $0.07 during trading hours on Monday, reaching $6.66. 15,736 shares of the company were exchanged, compared to its average volume of 60,864. Alliance Entertainment has a 52-week low of $2.21 and a 52-week high of $11.57. The stock has a 50 day simple moving average of $5.85 and a 200 day simple moving average of $4.37. The company has a debt-to-equity ratio of 0.65, a current ratio of 1.26 and a quick ratio of 0.67. The firm has a market cap of $339.39 million, a price-to-earnings ratio of 21.91 and a beta of 0.50.

Alliance Entertainment (NASDAQ:AENT) last issued its quarterly earnings data on Wednesday, September 10th. The company reported $0.11 earnings per share for the quarter. Alliance Entertainment had a return on equity of 18.35% and a net margin of 1.42%.The firm had revenue of $227.75 million during the quarter.

Institutional Trading of Alliance Entertainment

Large investors have recently added to or reduced their stakes in the business. Empowered Funds LLC grew its holdings in Alliance Entertainment by 9.2% during the first quarter. Empowered Funds LLC now owns 90,880 shares of the company’s stock valued at $304,000 after purchasing an additional 7,683 shares during the period. XTX Topco Ltd bought a new position in shares of Alliance Entertainment in the 2nd quarter valued at about $59,000. OMERS ADMINISTRATION Corp boosted its holdings in shares of Alliance Entertainment by 179.0% in the 1st quarter. OMERS ADMINISTRATION Corp now owns 27,900 shares of the company’s stock worth $93,000 after purchasing an additional 17,900 shares during the period. Bridgeway Capital Management LLC boosted its position in shares of Alliance Entertainment by 18.4% during the second quarter. Bridgeway Capital Management LLC now owns 122,075 shares of the company’s stock valued at $460,000 after buying an additional 18,995 shares during the period. Finally, Clarity Capital Partners LLC lifted its position in shares of Alliance Entertainment by 43,251.1% during the first quarter. Clarity Capital Partners LLC now owns 23,463,801 shares of the company’s stock worth $78,604,000 after purchasing an additional 23,409,676 shares during the last quarter. 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.