Alliance Entertainment (NASDAQ:AENT) Upgraded by Wall Street Zen to "Strong-Buy" Rating

Key Points

• Alliance Entertainment (NASDAQ:AENT) has been upgraded to a "strong-buy" rating by Wall Street Zen, signaling positive sentiment from analysts.
• Maxim Group has initiated coverage on the stock with a "buy" rating and a price target of $10.00, indicating confidence in the company's future performance.
• Institutional investors have recently increased their stakes in Alliance Entertainment, suggesting growing interest and confidence among large investors in the company.

Alliance Entertainment (NASDAQ:AENT - Get Free Report) was upgraded by Wall Street Zen to a "strong-buy" rating in a research report issued to clients and investors on Friday.

Separately, Maxim Group began coverage on shares of Alliance Entertainment in a research note 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, Based on data from MarketBeat.com, Alliance Entertainment has a consensus rating of "Buy" and a consensus price target of $10.00.

Alliance Entertainment Stock Performance

Shares of NASDAQ:AENT opened at $5.20 on Friday. The company has a market capitalization of $264.99 million, a price-to-earnings ratio of 21.67 and a beta of 0.44. Alliance Entertainment has a 52 week low of $1.10 and a 52 week 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 firm has a 50 day moving average of $4.88 and a 200 day moving average of $3.94.

Hedge Funds Weigh In On Alliance Entertainment

A number of large investors have recently modified their holdings of AENT. XTX Topco Ltd purchased a new stake in Alliance Entertainment in the second quarter valued at approximately $59,000. OMERS ADMINISTRATION Corp purchased a new stake in Alliance Entertainment in the fourth quarter valued at approximately $91,000. Renaissance Technologies LLC purchased a new stake in Alliance Entertainment in the fourth quarter valued at approximately $92,000. LPL Financial LLC purchased a new stake in Alliance Entertainment in the fourth quarter valued at approximately $130,000. Finally, Empowered Funds LLC raised its stake 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 purchasing an additional 7,683 shares in the last quarter. 0.27% of the stock is currently owned by 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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