Clarity Capital Partners LLC Raises Stake in Alliance Entertainment Holding Corporation (NASDAQ:AENT)

Clarity Capital Partners LLC boosted its holdings in Alliance Entertainment Holding Corporation (NASDAQ:AENT - Free Report) by 43,251.1% in the first quarter, according to the company in its most recent Form 13F filing with the SEC. The institutional investor owned 23,463,801 shares of the company's stock after purchasing an additional 23,409,676 shares during the quarter. Alliance Entertainment comprises 31.7% of Clarity Capital Partners LLC's holdings, making the stock its largest holding. Clarity Capital Partners LLC owned 46.05% of Alliance Entertainment worth $78,604,000 as of its most recent SEC filing.

Other hedge funds have also recently added to or reduced their stakes in the company. OMERS ADMINISTRATION Corp purchased a new position in shares of Alliance Entertainment during the fourth quarter valued at approximately $91,000. Renaissance Technologies LLC purchased a new position in shares of Alliance Entertainment during the fourth quarter valued at approximately $92,000. LPL Financial LLC purchased a new position in shares of Alliance Entertainment during the fourth quarter valued at approximately $130,000. Marshall Wace LLP purchased a new position in shares of Alliance Entertainment during the fourth quarter valued at approximately $440,000. Finally, Bridgeway Capital Management LLC purchased a new position in shares of Alliance Entertainment during the fourth quarter valued at approximately $864,000. Institutional investors and hedge funds own 0.27% of the company's stock.

Alliance Entertainment Stock Performance

AENT stock traded up $0.72 during midday trading on Friday, hitting $5.28. The company's stock had a trading volume of 65,318 shares, compared to its average volume of 79,909. The stock's 50-day moving average price is $3.15 and its 200 day moving average price is $4.34. The company has a quick ratio of 0.70, a current ratio of 1.30 and a debt-to-equity ratio of 0.80. Alliance Entertainment Holding Corporation has a 1 year low of $1.10 and a 1 year high of $11.57. The stock has a market cap of $269.07 million, a price-to-earnings ratio of 18.41 and a beta of 0.41.

Alliance Entertainment (NASDAQ:AENT - Get Free Report) last posted its quarterly earnings data on Thursday, May 15th. The company reported $0.04 earnings per share for the quarter, topping the consensus estimate of $0.01 by $0.03. Alliance Entertainment had a return on equity of 15.59% and a net margin of 1.10%. The business had revenue of $213.05 million for the quarter, compared to analysts' expectations of $210.65 million.

Analyst Ratings Changes

Several research analysts recently issued reports on AENT shares. Wall Street Zen raised Alliance Entertainment from a "buy" rating to a "strong-buy" rating in a research report on Thursday, May 22nd. Maxim Group assumed coverage on Alliance Entertainment in a research report on Tuesday. They set a "buy" rating and a $10.00 target price on the 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.