Short Interest in Alliance Entertainment Holding Co. (NASDAQ:AENT) Decreases By 57.3%

Alliance Entertainment Holding Co. (NASDAQ:AENT - Get Free Report) was the recipient of a significant drop in short interest in the month of April. As of April 15th, there was short interest totalling 40,400 shares, a drop of 57.3% from the March 31st total of 94,700 shares. Based on an average daily trading volume, of 70,400 shares, the short-interest ratio is currently 0.6 days. Approximately 1.3% of the shares of the company are sold short.

Insiders Place Their Bets

In other Alliance Entertainment news, CEO Jeffrey Clinton Walker acquired 36,684 shares of Alliance Entertainment stock in a transaction dated Wednesday, February 26th. The stock was acquired at an average cost of $3.85 per share, for a total transaction of $141,354.46. Following the completion of the transaction, the chief executive officer now owns 22,972,762 shares in the company, valued at approximately $88,520,943.81. This represents a 0.16 % increase in their position. The transaction was disclosed in a legal filing with the SEC, which is accessible through the SEC website. 81.90% of the stock is owned by corporate insiders.

Hedge Funds Weigh In On Alliance Entertainment

A number of institutional investors have recently modified their holdings of the company. Empowered Funds LLC bought a new stake in shares of Alliance Entertainment during the fourth quarter valued at approximately $754,000. LPL Financial LLC bought a new position in shares of Alliance Entertainment during the 4th quarter worth about $130,000. Clarity Capital Partners LLC boosted its position in shares of Alliance Entertainment by 116.5% during the 4th quarter. Clarity Capital Partners LLC now owns 54,125 shares of the company's stock valued at $490,000 after acquiring an additional 29,125 shares in the last quarter. OMERS ADMINISTRATION Corp bought a new stake in Alliance Entertainment in the fourth quarter valued at about $91,000. Finally, Bridgeway Capital Management LLC acquired a new position in Alliance Entertainment in the fourth quarter worth about $864,000. Institutional investors own 0.27% of the company's stock.

Alliance Entertainment Price Performance

Shares of AENT traded down $0.27 during midday trading on Friday, reaching $2.50. The stock had a trading volume of 43,460 shares, compared to its average volume of 83,264. The company has a debt-to-equity ratio of 0.84, a current ratio of 1.24 and a quick ratio of 0.77. The firm's 50 day moving average price is $3.37 and its 200-day moving average price is $4.82. Alliance Entertainment has a 52 week low of $1.10 and a 52 week high of $11.57. The company has a market capitalization of $127.39 million, a P/E ratio of 19.23 and a beta of 0.32.

Alliance Entertainment (NASDAQ:AENT - Get Free Report) last posted its quarterly earnings data on Thursday, February 13th. The company reported $0.19 EPS for the quarter, missing analysts' consensus estimates of $0.35 by ($0.16). Alliance Entertainment had a return on equity of 10.26% and a net margin of 0.62%.

About Alliance Entertainment

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.