Alliance Entertainment (NASDAQ:AENT) Stock Picked Up by Analysts at Noble Financial

Equities research analysts at Noble Financial assumed coverage on shares of Alliance Entertainment (NASDAQ:AENT) in a research note issued on Friday, Zacks reports. The brokerage set a “strong-buy” rating on the stock.

Separately, Weiss Ratings lowered shares of Alliance Entertainment from a “hold (c+)” rating to a “hold (c-)” rating in a research report on Monday, September 28th. One investment analyst has rated the stock with a Strong Buy rating and two have issued a Hold rating to the stock. Based on data from MarketBeat.com, the company has a consensus rating of “Moderate Buy” and a consensus target price of $8.00.

Alliance Entertainment Price Performance

AENT traded down $0.26 on Friday, hitting $4.94. 57,004 shares of the company’s stock were exchanged, compared to its average volume of 26,032. Alliance Entertainment has a fifty-two week low of $4.20 and a fifty-two week high of $8.80. 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 50-day moving average price of $4.77 and a 200-day moving average price of $5.85. The stock has a market cap of $251.82 million, a price-to-earnings ratio of 15.94 and a beta of 0.46.

Alliance Entertainment (NASDAQ:AENT) last released its earnings results on Thursday, November 12th. The company reported $0.14 earnings per share (EPS) for the quarter, topping analysts’ consensus estimates of $0.12 by $0.02. The business had revenue of $278.83 million during the quarter, compared to analyst estimates of $251.50 million. Alliance Entertainment had a net margin of 1.35% and a return on equity of 21.87%. As a group, equities analysts anticipate that Alliance Entertainment will post 0.53 earnings per share for the current year.

Institutional Inflows and Outflows

Several institutional investors have recently modified their holdings of AENT. Citadel Advisors LLC acquired a new position in shares of Alliance Entertainment during the 2nd quarter valued at about $101,000. Empowered Funds LLC purchased a new stake in shares of Alliance Entertainment in the third quarter valued at about $709,000. Finally, North Star Investment Management Corp. acquired a new stake in Alliance Entertainment during the third quarter worth about $1,122,000. Hedge funds and other institutional investors own 0.27% of the company’s stock.

Alliance Entertainment Company Profile

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.