Alliance Entertainment Holding Co. (NASDAQ:AENT) Short Interest Down 15.1% in March

Alliance Entertainment Holding Co. (NASDAQ:AENT - Get Free Report) was the recipient of a large decrease in short interest in the month of March. As of March 31st, there was short interest totalling 94,700 shares, a decrease of 15.1% from the March 15th total of 111,500 shares. Based on an average daily volume of 86,900 shares, the short-interest ratio is currently 1.1 days. Approximately 3.1% of the shares of the company are sold short.

Insider Buying and Selling

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

Hedge Funds Weigh In On Alliance Entertainment

A number of hedge funds have recently made changes to their positions in AENT. Bridgeway Capital Management LLC purchased a new position in Alliance Entertainment in the 4th quarter worth approximately $864,000. Empowered Funds LLC bought a new position in shares of Alliance Entertainment during the fourth quarter worth $754,000. Clarity Capital Partners LLC grew its stake in Alliance Entertainment by 116.5% during the fourth 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. Marshall Wace LLP purchased a new stake in Alliance Entertainment in the 4th quarter worth $440,000. Finally, LPL Financial LLC bought a new position in shares of Alliance Entertainment during the 4th quarter valued at about $130,000. Institutional investors own 0.27% of the company's stock.

Alliance Entertainment Stock Performance

AENT traded down $0.02 during midday trading on Friday, reaching $3.04. The company had a trading volume of 2,906 shares, compared to its average volume of 82,153. The business has a 50-day moving average of $3.55 and a two-hundred day moving average of $4.80. The company has a market cap of $154.65 million, a P/E ratio of 23.34 and a beta of 0.30. The company has a quick ratio of 0.77, a current ratio of 1.24 and a debt-to-equity ratio of 0.84. Alliance Entertainment has a 1 year low of $1.10 and a 1 year high of $11.57.

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

Alliance Entertainment Company Profile

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.