Zacks Research Upgrades Alliance Entertainment (NASDAQ:AENT) to Hold

Alliance Entertainment (NASDAQ:AENT) was upgraded by equities research analysts at Zacks Research from a “strong sell” rating to a “hold” rating in a report released on Tuesday,Zacks.com reports.

Several other equities analysts have also recently issued reports on AENT. Wall Street Zen cut Alliance Entertainment from a “strong-buy” rating to a “hold” rating in a report on Saturday, February 14th. Weiss Ratings reaffirmed a “hold (c)” rating on shares of Alliance Entertainment in a report on Wednesday, January 21st. Finally, Maxim Group set a $8.00 price objective on Alliance Entertainment in a report on Friday, February 13th. Two equities research analysts have rated the stock with a Buy rating and two have issued a Hold rating to the company’s stock. According to MarketBeat, Alliance Entertainment has a consensus rating of “Moderate Buy” and a consensus target price of $10.00.

Alliance Entertainment Stock Performance

Shares of AENT stock opened at $6.93 on Tuesday. The stock has a fifty day moving average price of $6.40 and a 200 day moving average price of $6.81. The stock has a market cap of $353.15 million, a PE ratio of 16.12 and a beta of 0.39. Alliance Entertainment has a 1 year low of $2.22 and a 1 year high of $8.80. The company has a debt-to-equity ratio of 0.72, a quick ratio of 0.79 and a current ratio of 1.35.

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

Institutional Investors Weigh In On Alliance Entertainment

Several hedge funds have recently made changes to their positions in the business. Empowered Funds LLC boosted its holdings in shares of Alliance Entertainment by 9.2% during the first quarter. Empowered Funds LLC now owns 90,880 shares of the company’s stock worth $304,000 after purchasing an additional 7,683 shares during the last quarter. Bridgeway Capital Management LLC boosted 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. XTX Topco Ltd purchased a new position in shares of Alliance Entertainment in the 2nd quarter worth $59,000. Quadrature Capital Ltd purchased a new position in shares of Alliance Entertainment in the 4th quarter worth $143,000. Finally, Millennium Management LLC raised its position in shares of Alliance Entertainment by 29.2% in the 3rd quarter. Millennium Management LLC now owns 85,510 shares of the company’s stock worth $582,000 after buying an additional 19,325 shares during the period. 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.