Alliance Entertainment (NASDAQ:AENT) Earns Hold (C) Rating from Weiss Ratings

Key Points

• Alliance Entertainment's stock was given a "hold (c)" rating by Weiss Ratings, indicating a neutral stance on the company's stock performance.
• Following downgrades and new coverage by investment firms, Alliance Entertainment has a consensus rating of "Moderate Buy" and an average price target of $10.67.
• The company recently reported a quarterly revenue of $227.75 million with earnings per share of $0.11, reflecting a net margin of 1.42%.

Alliance Entertainment (NASDAQ:AENT - Get Free Report)'s stock had its "hold (c)" rating reissued by equities research analysts at Weiss Ratings in a research note issued to investors on Wednesday,Weiss Ratings reports.

AENT has been the subject of a number of other research reports. Industrial Alliance Securities set a $11.00 price objective on Alliance Entertainment in a research note on Monday. Wall Street Zen downgraded Alliance Entertainment from a "strong-buy" rating to a "buy" rating in a research note on Friday, September 5th. Noble Financial initiated coverage on Alliance Entertainment in a research note on Monday. They issued an "outperform" rating and a $11.00 target price for the company. Finally, Maxim Group initiated coverage on Alliance Entertainment in a research note on Tuesday, July 1st. They issued a "buy" rating and a $10.00 target price for the company. Two investment analysts have rated the stock with a Buy rating and one has assigned a Hold rating to the company's stock. According to data from MarketBeat, Alliance Entertainment presently has a consensus rating of "Moderate Buy" and an average price target of $10.67.

Alliance Entertainment Trading Up 5.4%

NASDAQ AENT traded up $0.35 during trading hours on Wednesday, hitting $6.84. 68,030 shares of the company's stock were exchanged, compared to its average volume of 60,998. The firm has a market cap of $348.57 million, a price-to-earnings ratio of 22.80 and a beta of 0.50. The stock has a 50-day simple moving average of $5.91 and a 200 day simple moving average of $4.40. The company has a current ratio of 1.26, a quick ratio of 0.67 and a debt-to-equity ratio of 0.65. Alliance Entertainment has a 1-year low of $2.21 and a 1-year high of $11.57.

Alliance Entertainment (NASDAQ:AENT - Get Free Report) last issued its quarterly earnings results 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 firm had revenue of $227.75 million for the quarter.

Hedge Funds Weigh In On Alliance Entertainment

Large investors have recently modified their holdings of the company. Clarity Capital Partners LLC raised its holdings in shares of Alliance Entertainment by 43,251.1% during the 1st quarter. Clarity Capital Partners LLC now owns 23,463,801 shares of the company's stock valued at $78,604,000 after buying an additional 23,409,676 shares in the last quarter. OMERS ADMINISTRATION Corp raised its holdings in shares of Alliance Entertainment by 179.0% during the 1st quarter. OMERS ADMINISTRATION Corp now owns 27,900 shares of the company's stock valued at $93,000 after buying an additional 17,900 shares in the last quarter. Bridgeway Capital Management LLC raised its holdings in shares of Alliance Entertainment by 18.4% during the 2nd quarter. Bridgeway Capital Management LLC now owns 122,075 shares of the company's stock valued at $460,000 after buying an additional 18,995 shares in the last quarter. Empowered Funds LLC increased its stake in Alliance Entertainment by 9.2% in the 1st quarter. Empowered Funds LLC now owns 90,880 shares of the company's stock worth $304,000 after purchasing an additional 7,683 shares during the period. Finally, XTX Topco Ltd purchased a new position in Alliance Entertainment in the 2nd quarter worth approximately $59,000. 0.27% of the stock is owned by hedge funds and other institutional investors.

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.

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