244,000 Shares of Alliance Entertainment Holding Corporation $AENT Bought by North Star Investment Management Corp.

Key Points

• North Star Investment Management purchased 244,000 Alliance Entertainment shares worth approximately $1.12 million, while other institutional investors also increased or initiated positions. Institutional ownership remains low at 0.27%.
• Alliance Entertainment shares traded down 6.4% to $4.42, near the company’s 12-month low of $4.28 and below its 50- and 200-day moving averages.
• The company beat quarterly expectations, reporting $0.13 in earnings per share versus the $0.01 consensus estimate and revenue of $268.1 million versus $234.95 million expected. Analysts maintain a “Hold” consensus with an $8.00 average price target.

North Star Investment Management Corp. bought a new stake in shares of Alliance Entertainment Holding Corporation (NASDAQ:AENT - Free Report) during the third quarter, according to its most recent 13F filing with the SEC. The institutional investor bought 244,000 shares of the company's stock, valued at approximately $1,122,000.

Several other hedge funds also recently modified their holdings of the business. Kathmere Capital Management LLC acquired a new stake in shares of Alliance Entertainment during the 1st quarter worth approximately $68,000. Citadel Advisors LLC acquired a new position in Alliance Entertainment in the second quarter valued at approximately $101,000. Apollon Wealth Management LLC boosted its stake in Alliance Entertainment by 15.6% in the first quarter. Apollon Wealth Management LLC now owns 36,980 shares of the company's stock valued at $242,000 after acquiring an additional 5,000 shares during the last quarter. Finally, Empowered Funds LLC boosted its stake in Alliance Entertainment by 9.8% in the first quarter. Empowered Funds LLC now owns 135,837 shares of the company's stock valued at $890,000 after acquiring an additional 12,110 shares during the last quarter. Institutional investors own 0.27% of the company's stock.

Alliance Entertainment Trading Down 6.4%

AENT opened at $4.42 on Friday. The firm's fifty day moving average is $4.94 and its two-hundred day moving average is $6.02. The company has a debt-to-equity ratio of 0.63, a quick ratio of 0.65 and a current ratio of 1.34. The firm has a market cap of $225.31 million, a PE ratio of 17.00 and a beta of 0.44. Alliance Entertainment Holding Corporation has a twelve month low of $4.28 and a twelve month high of $8.80.

Alliance Entertainment (NASDAQ:AENT - Get Free Report) last announced its quarterly earnings results on Thursday, September 10th. The company reported $0.13 earnings per share for the quarter, topping analysts' consensus estimates of $0.01 by $0.12. Alliance Entertainment had a net margin of 1.14% and a return on equity of 20.29%. The company had revenue of $268.10 million for the quarter, compared to analysts' expectations of $234.95 million. Equities research analysts anticipate that Alliance Entertainment Holding Corporation will post 0.53 EPS for the current year.

Analyst Ratings Changes

Separately, Weiss Ratings cut shares of Alliance Entertainment from a "hold (c+)" rating to a "hold (c-)" rating in a research report on Monday, September 28th. Two analysts have rated the stock with a Hold rating. According to data from MarketBeat.com, Alliance Entertainment presently has an average rating of "Hold" and an average price target of $8.00.

Alliance Entertainment Profile

Alliance Entertainment Corporation NASDAQ: AENT is a distributor and wholesaler of physical and digital entertainment products. The company supplies music, movies, video games, consumer electronics, toys, collectibles and related merchandise to retailers, e-commerce businesses and other commercial customers.

Its services include product distribution, fulfillment, logistics and supply-chain management. Alliance Entertainment serves a broad range of customers, including mass merchants, specialty retailers, independent record stores, online retailers and entertainment-focused businesses.

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