Alliance Entertainment (NASDAQ:AENT) Downgraded to "Buy" Rating by Wall Street Zen

Key Points

• Alliance Entertainment's stock rating has been downgraded from a "strong-buy" to a "buy" by Wall Street Zen.
• Maxim Group has initiated coverage on the stock with a "buy" rating and a price target of $10.00.
• The company's market capitalization is approximately $301.68 million, with a current stock price opening at $5.92.

Alliance Entertainment (NASDAQ:AENT - Get Free Report) was downgraded by analysts at Wall Street Zen from a "strong-buy" rating to a "buy" rating in a research note issued on Friday.

Separately, Maxim Group started coverage on Alliance Entertainment in a research report on Tuesday, July 1st. They issued a "buy" rating and a $10.00 price objective for the company. One investment analyst has rated the stock with a Buy rating, According to data from MarketBeat, Alliance Entertainment presently has a consensus rating of "Buy" and a consensus target price of $10.00.

Alliance Entertainment Price Performance

Alliance Entertainment stock traded down $1.06 during mid-day trading on Friday, hitting $5.91. 261,877 shares of the company were exchanged, compared to its average volume of 61,407. The company has a debt-to-equity ratio of 0.80, a current ratio of 1.30 and a quick ratio of 0.70. The business's 50 day simple moving average is $5.47 and its two-hundred day simple moving average is $4.03. The company has a market capitalization of $301.17 million, a P/E ratio of 19.70 and a beta of 0.44. Alliance Entertainment has a 12-month low of $1.65 and a 12-month high of $11.57.

Alliance Entertainment (NASDAQ:AENT - Get Free Report) last released its quarterly earnings results on Wednesday, September 10th. The company reported $0.11 earnings per share for the quarter. The company had revenue of $227.75 million during the quarter. Alliance Entertainment had a return on equity of 18.82% and a net margin of 1.42%.

Institutional Inflows and Outflows

A number of hedge funds and other institutional investors have recently added to or reduced their stakes in the company. Empowered Funds LLC boosted its holdings in Alliance Entertainment by 9.2% in the first quarter. Empowered Funds LLC now owns 90,880 shares of the company's stock valued at $304,000 after acquiring an additional 7,683 shares during the last quarter. OMERS ADMINISTRATION Corp acquired a new position in Alliance Entertainment in the fourth quarter valued at $91,000. XTX Topco Ltd acquired a new position in Alliance Entertainment in the second quarter valued at $59,000. Bridgeway Capital Management LLC boosted its holdings in Alliance Entertainment by 18.4% in the second quarter. Bridgeway Capital Management LLC now owns 122,075 shares of the company's stock valued at $460,000 after acquiring an additional 18,995 shares during the last quarter. Finally, Clarity Capital Partners LLC boosted its holdings in Alliance Entertainment by 43,251.1% in the first quarter. Clarity Capital Partners LLC now owns 23,463,801 shares of the company's stock valued at $78,604,000 after acquiring an additional 23,409,676 shares during the last quarter. Institutional investors and hedge funds own 0.27% of the company's stock.

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.