Alliance Entertainment (NASDAQ:AENT) Posts Earnings Results

Key Points

• Alliance Entertainment reported quarterly earnings of $0.11 per share, with a return on equity of 15.59% and a net margin of 1.10%.
• Stocks for NASDAQ AENT increased by 18.1%, trading at $6.97, with a market capitalization of $355.19 million.
• Analysts have an average rating of “Buy” for AENT, with a price target of $10.00 following coverage by research firms.

Alliance Entertainment (NASDAQ:AENT - Get Free Report) announced its quarterly earnings results on Wednesday. The company reported $0.11 earnings per share for the quarter, Zacks reports. Alliance Entertainment had a return on equity of 15.59% and a net margin of 1.10%.

Alliance Entertainment Trading Up 18.1%

Shares of NASDAQ AENT traded up $1.07 during midday trading on Wednesday, hitting $6.97. The stock had a trading volume of 397,381 shares, compared to its average volume of 60,062. The company has a market capitalization of $355.19 million, a price-to-earnings ratio of 29.04 and a beta of 0.44. Alliance Entertainment has a 1-year low of $1.64 and a 1-year high of $11.57. The company has a quick ratio of 0.70, a current ratio of 1.30 and a debt-to-equity ratio of 0.80. The company has a fifty day moving average price of $5.41 and a 200 day moving average price of $3.99.

Analysts Set New Price Targets

A number of research firms recently commented on AENT. Wall Street Zen cut Alliance Entertainment from a "strong-buy" rating to a "buy" rating in a research report on Friday, September 5th. Maxim Group began coverage on Alliance Entertainment in a research report on Tuesday, July 1st. They set a "buy" rating and a $10.00 price objective for the company. One analyst has rated the stock with a Buy rating, According to MarketBeat.com, Alliance Entertainment presently has an average rating of "Buy" and an average price target of $10.00.

Hedge Funds Weigh In On Alliance Entertainment

Several hedge funds and other institutional investors have recently bought and sold shares of AENT. Empowered Funds LLC lifted its position in Alliance Entertainment by 9.2% during the 1st quarter. Empowered Funds LLC now owns 90,880 shares of the company's stock worth $304,000 after acquiring an additional 7,683 shares in the last quarter. XTX Topco Ltd acquired a new position in shares of Alliance Entertainment in the 2nd quarter valued at approximately $59,000. Finally, Bridgeway Capital Management LLC raised its position in shares of Alliance Entertainment by 18.4% in the 2nd quarter. Bridgeway Capital Management LLC now owns 122,075 shares of the company's stock valued at $460,000 after purchasing an additional 18,995 shares in the last quarter. 0.27% of the stock is owned by institutional investors and hedge funds.

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.

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