Alliance Entertainment Holding Corporation (NASDAQ:AENT) Short Interest Update

Key Points

• Short interest in Alliance Entertainment surged by 386.6% in September, reaching a total of 178,600 shares, representing 5.8% of the company's stock sold short.
• Analysts have a consensus "Buy" rating on the company with a target price of $10.00, although Wall Street Zen downgraded its rating from "strong-buy" to "buy."
• Institutional investors have increased their stakes significantly, with Clarity Capital Partners LLC acquiring over 23 million shares, raising its ownership to 43,251.1% during the first quarter.

Alliance Entertainment Holding Corporation (NASDAQ:AENT - Get Free Report) was the target of a significant increase in short interest during the month of September. As of September 15th, there was short interest totaling 178,600 shares, an increase of 386.6% from the August 31st total of 36,700 shares. Approximately 5.8% of the company's stock are sold short. Based on an average trading volume of 58,900 shares, the days-to-cover ratio is currently 3.0 days. Based on an average trading volume of 58,900 shares, the days-to-cover ratio is currently 3.0 days. Approximately 5.8% of the company's stock are sold short.

Wall Street Analyst Weigh In

A number of analysts recently issued reports on the company. Maxim Group began coverage on Alliance Entertainment in a research report on Tuesday, July 1st. They issued a "buy" rating and a $10.00 target price on the stock. Wall Street Zen downgraded Alliance Entertainment from a "strong-buy" rating to a "buy" rating in a research report on Friday, September 5th. One equities research analyst has rated the stock with a Buy rating, Based on data from MarketBeat, the stock presently has an average rating of "Buy" and a consensus target price of $10.00.

Institutional Investors Weigh In On Alliance Entertainment

Institutional investors have recently made changes to their positions in the company. XTX Topco Ltd bought a new stake in shares of Alliance Entertainment during the second quarter worth approximately $59,000. OMERS ADMINISTRATION Corp boosted its holdings in shares of Alliance Entertainment by 179.0% during the first quarter. OMERS ADMINISTRATION Corp now owns 27,900 shares of the company's stock worth $93,000 after acquiring an additional 17,900 shares during the period. 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 acquiring an additional 7,683 shares during the period. Bridgeway Capital Management LLC boosted its holdings in shares of Alliance Entertainment by 18.4% during the second quarter. Bridgeway Capital Management LLC now owns 122,075 shares of the company's stock worth $460,000 after acquiring an additional 18,995 shares during the period. Finally, Clarity Capital Partners LLC boosted its holdings in shares of Alliance Entertainment by 43,251.1% during the first quarter. Clarity Capital Partners LLC now owns 23,463,801 shares of the company's stock worth $78,604,000 after acquiring an additional 23,409,676 shares during the period. Institutional investors own 0.27% of the company's stock.

Alliance Entertainment Price Performance

Shares of NASDAQ AENT opened at $6.81 on Wednesday. Alliance Entertainment has a twelve month low of $2.21 and a twelve month high of $11.57. The company has a market cap of $347.04 million, a PE ratio of 22.70 and a beta of 0.44. The business's 50 day moving average price is $5.81 and its two-hundred day moving average price is $4.30. The company has a quick ratio of 0.67, a current ratio of 1.26 and a debt-to-equity ratio of 0.65.

Alliance Entertainment (NASDAQ:AENT - Get Free Report) last issued its quarterly earnings data on Wednesday, September 10th. The company reported $0.11 earnings per share (EPS) for the quarter. Alliance Entertainment had a return on equity of 18.35% and a net margin of 1.42%.The company had revenue of $227.75 million during the quarter.

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.

This instant news alert was generated by narrative science technology and financial data from MarketBeat in order to provide readers with the fastest and most accurate reporting. This story was reviewed by MarketBeat's editorial team prior to publication. Please send any questions or comments about this story to contact@marketbeat.com.