Alliance Entertainment (NASDAQ:AENT) Rating Increased to Hold at Zacks Research

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

A number of other research analysts have also recently commented on the company. Weiss Ratings reaffirmed a “hold (c)” rating on shares of Alliance Entertainment in a research report on Wednesday, January 21st. Wall Street Zen cut Alliance Entertainment from a “strong-buy” rating to a “hold” rating in a research report on Saturday, February 14th. Finally, Maxim Group set a $8.00 price target on Alliance Entertainment in a research report on Friday, February 13th. Two equities research 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 presently has a consensus rating of “Moderate Buy” and an average price target of $10.00.

Alliance Entertainment Stock Down 0.4%

Shares of NASDAQ AENT opened at $6.93 on Tuesday. Alliance Entertainment has a one year low of $2.22 and a one year high of $8.80. The company has a debt-to-equity ratio of 0.72, a current ratio of 1.35 and a quick ratio of 0.79. The business’s fifty day moving average price is $6.40 and its 200-day moving average price is $6.81. The stock has a market capitalization of $353.15 million, a PE ratio of 16.12 and a beta of 0.39.

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

Hedge Funds Weigh In On Alliance Entertainment

A number of institutional investors have recently added to or reduced their stakes in the business. Empowered Funds LLC increased its stake in Alliance Entertainment by 10.3% in the 4th quarter. Empowered Funds LLC now owns 123,727 shares of the company’s stock worth $1,000,000 after acquiring an additional 11,562 shares during the last quarter. Quadrature Capital Ltd bought a new position in Alliance Entertainment in the 4th quarter worth about $143,000. Bridgeway Capital Management LLC increased its stake in Alliance Entertainment by 8.6% in the 4th quarter. Bridgeway Capital Management LLC now owns 145,927 shares of the company’s stock worth $1,179,000 after acquiring an additional 11,562 shares during the last quarter. Rothschild Wealth LLC bought a new position in Alliance Entertainment in the 4th quarter worth about $525,000. Finally, Marshall Wace LLP bought a new position in Alliance Entertainment in the 4th quarter worth about $422,000. 0.27% of the stock is currently owned by institutional investors.

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.