Alliance Entertainment (NASDAQ:AENT) Share Price Breaks Above 50-Day Moving Average – Time to Sell?

Alliance Entertainment Holding Corporation (NASDAQ:AENT) crossed above its fifty day moving average during trading on Thursday. The stock has a fifty day moving average of $4.78 and traded as high as $5.33. Alliance Entertainment shares last traded at $5.20, with a volume of 82,133 shares.

Analyst Upgrades and Downgrades

Separately, Weiss Ratings downgraded Alliance Entertainment from a “hold (c+)” rating to a “hold (c-)” rating in a report on Monday, September 28th. Two analysts have rated the stock with a Hold rating. According to MarketBeat, the stock presently has a consensus rating of “Hold” and a consensus price target of $8.00.

Alliance Entertainment Trading Up 13.3%

The company has a current ratio of 1.34, a quick ratio of 0.65 and a debt-to-equity ratio of 0.63. The firm has a market cap of $265.04 million, a PE ratio of 20.00 and a beta of 0.46. The company’s 50-day moving average is $4.78 and its 200 day moving average is $5.86.

Alliance Entertainment (NASDAQ:AENT) last posted its quarterly earnings data on Thursday, November 12th. The company reported $0.14 earnings per share for the quarter, topping the consensus estimate of $0.12 by $0.02. Alliance Entertainment had a net margin of 1.14% and a return on equity of 20.29%. The firm had revenue of $278.83 million for the quarter, compared to analysts’ expectations of $251.50 million. As a group, sell-side analysts predict that Alliance Entertainment Holding Corporation will post 0.53 EPS for the current year.

Institutional Trading of Alliance Entertainment

Hedge funds and other institutional investors have recently modified their holdings of the business. North Star Investment Management Corp. acquired a new stake in shares of Alliance Entertainment in the third quarter worth $1,122,000. Empowered Funds LLC raised its position in Alliance Entertainment by 9.8% during 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. Finally, Citadel Advisors LLC acquired a new position in Alliance Entertainment during the second quarter valued at $101,000. Institutional investors and hedge funds own 0.27% of the company’s stock.

About Alliance Entertainment

Alliance Entertainment is a distributor and wholesaler of physical entertainment products, including vinyl records, CDs, DVDs, Blu-ray discs, video games, toys, collectibles, books and consumer electronics. The company supplies products from a broad range of studios, record labels, publishers and manufacturers. Its customers include retailers, e-commerce businesses and specialty stores. Alliance Entertainment also provides distribution and fulfillment services, helping businesses source and deliver entertainment products to consumers.