Alliance Entertainment (NASDAQ:AENT) Releases Earnings Results, Beats Estimates By $0.02 EPS

Alliance Entertainment (NASDAQ:AENT) posted its earnings results on Wednesday. The company reported $0.10 EPS for the quarter, topping the consensus estimate of $0.08 by $0.02, FiscalAI reports. The business had revenue of $253.97 million during the quarter, compared to the consensus estimate of $237.30 million. Alliance Entertainment had a return on equity of 18.35% and a net margin of 1.42%.

Alliance Entertainment Trading Down 1.6%

AENT stock traded down $0.11 during trading on Wednesday, hitting $6.64. The company had a trading volume of 52,734 shares, compared to its average volume of 61,096. The firm has a 50-day moving average price of $6.45 and a 200-day moving average price of $4.97. The stock has a market cap of $338.35 million, a price-to-earnings ratio of 22.13 and a beta of 0.49. Alliance Entertainment has a 12 month low of $2.21 and a 12 month high of $11.57. The company has a quick ratio of 0.67, a current ratio of 1.26 and a debt-to-equity ratio of 0.65.

Wall Street Analyst Weigh In

Several research firms have issued reports on AENT. Zacks Research upgraded Alliance Entertainment to a “hold” rating in a research note on Tuesday, October 7th. Noble Financial started coverage on shares of Alliance Entertainment in a report on Monday, October 6th. They issued an “outperform” rating and a $11.00 target price on the stock. Industrial Alliance Securities set a $11.00 target price on shares of Alliance Entertainment in a research report on Monday, October 6th. Weiss Ratings reissued a “hold (c)” rating on shares of Alliance Entertainment in a report on Wednesday, October 8th. Finally, Wall Street Zen cut shares of Alliance Entertainment from a “strong-buy” rating to a “buy” rating in a research note on Friday, September 5th. Two investment analysts have rated the stock with a Buy rating and two have given a Hold rating to the stock. According to MarketBeat.com, the company has an average rating of “Moderate Buy” and an average target price of $10.67.

Hedge Funds Weigh In On Alliance Entertainment

Hedge funds have recently added to or reduced their stakes in the company. Empowered Funds LLC increased its position in shares of Alliance Entertainment by 9.2% in the 1st quarter. Empowered Funds LLC now owns 90,880 shares of the company’s stock valued at $304,000 after buying an additional 7,683 shares in the last quarter. XTX Topco Ltd bought a new position in Alliance Entertainment during the second quarter worth about $59,000. Finally, Bridgeway Capital Management LLC grew its stake in Alliance Entertainment by 18.4% in the second quarter. Bridgeway Capital Management LLC now owns 122,075 shares of the company’s stock valued at $460,000 after acquiring an additional 18,995 shares during the period. Institutional investors own 0.27% of the company’s stock.

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.