Alliance Entertainment (NASDAQ:AENT) Stock Rating Lowered 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 investment analysts at Wall Street Zen from a "strong-buy" rating to a "buy" rating in a report released on Friday.

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

Alliance Entertainment Price Performance

NASDAQ AENT opened at $5.92 on Friday. The business's fifty day moving average is $5.33 and its 200 day moving average is $3.98. Alliance Entertainment has a fifty-two week low of $1.51 and a fifty-two week high of $11.57. The company has a debt-to-equity ratio of 0.80, a quick ratio of 0.70 and a current ratio of 1.30. The company has a market capitalization of $301.68 million, a PE ratio of 24.67 and a beta of 0.44.

Institutional Trading of Alliance Entertainment

Institutional investors and hedge funds have recently added to or reduced their stakes in the business. Clarity Capital Partners LLC lifted its holdings in Alliance Entertainment by 43,251.1% in the 1st quarter. Clarity Capital Partners LLC now owns 23,463,801 shares of the company's stock worth $78,604,000 after purchasing an additional 23,409,676 shares in the last quarter. OMERS ADMINISTRATION Corp raised its position 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 valued at $93,000 after buying an additional 17,900 shares during the last quarter. Bridgeway Capital Management LLC purchased a new position in shares of Alliance Entertainment in the fourth quarter worth $864,000. Empowered Funds LLC boosted its position 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 last quarter. Finally, XTX Topco Ltd purchased a new position in Alliance Entertainment during the second quarter valued at $59,000. Institutional investors 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.

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