Alliance Entertainment (NASDAQ:AENT) Posts Quarterly 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) released its earnings results on Wednesday. The company reported $0.11 EPS for the quarter, Zacks reports. 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.

Alliance Entertainment Stock Performance

NASDAQ:AENT traded up $0.58 on Monday, hitting $7.14. The stock had a trading volume of 163,246 shares, compared to its average volume of 78,961. The stock has a market cap of $363.85 million, a price-to-earnings ratio of 18.74 and a beta of 0.44. The company has a quick ratio of 0.67, a current ratio of 1.26 and a debt-to-equity ratio of 0.65. The business's 50-day simple moving average is $5.52 and its two-hundred day simple moving average is $4.07. Alliance Entertainment has a 52-week low of $1.68 and a 52-week high of $11.57.

Institutional Inflows and Outflows

Several institutional investors and hedge funds have recently bought and sold shares of the company. Bridgeway Capital Management LLC boosted its position in Alliance Entertainment by 18.4% in the second quarter. Bridgeway Capital Management LLC now owns 122,075 shares of the company's stock worth $460,000 after purchasing an additional 18,995 shares during the last quarter. XTX Topco Ltd bought a new position in shares of Alliance Entertainment in the second quarter worth about $59,000. Finally, Empowered Funds LLC raised its stake in shares of Alliance Entertainment by 9.2% in the first quarter. Empowered Funds LLC now owns 90,880 shares of the company's stock worth $304,000 after buying an additional 7,683 shares during the period. 0.27% of the stock is owned by hedge funds and other institutional investors.

Wall Street Analyst Weigh In

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

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.