Noble Financial Begins Coverage on Alliance Entertainment (NASDAQ:AENT)

Key Points

• Noble Financial has initiated coverage on Alliance Entertainment (NASDAQ:AENT) with an "outperform" rating and a price target of $11.00, indicating a potential upside of 65.17% from its previous close.
• Recent analyst ratings for Alliance Entertainment include a downgrade from Wall Street Zen to "buy," while Maxim Group maintains a "buy" rating with a $10.00 price target.
• Alliance Entertainment reported a revenue of $227.75 million for the last quarter, with an earnings per share of $0.11 and a market cap of approximately $339.39 million.

Research analysts at Noble Financial assumed coverage on shares of Alliance Entertainment (NASDAQ:AENT - Get Free Report) in a report released on Monday,Briefing.com Automated Import reports. The brokerage set an "outperform" rating and a $11.00 price target on the stock. Noble Financial's price objective suggests a potential upside of 65.17% from the stock's previous close.

Several other analysts have also weighed in on AENT. Wall Street Zen lowered shares of Alliance Entertainment from a "strong-buy" rating to a "buy" rating in a report on Friday, September 5th. Weiss Ratings reiterated a "hold (c)" rating on shares of Alliance Entertainment in a research note on Saturday, September 27th. Finally, Maxim Group began coverage on shares of Alliance Entertainment in a research report on Tuesday, July 1st. They issued a "buy" rating and a $10.00 price objective on the stock. Two research analysts have rated the stock with a Buy rating and one has assigned a Hold rating to the stock. According to data from MarketBeat.com, Alliance Entertainment currently has a consensus rating of "Moderate Buy" and a consensus price target of $10.50.

Alliance Entertainment Stock Performance

Shares of NASDAQ:AENT traded down $0.07 during trading on Monday, reaching $6.66. 15,736 shares of the company's stock traded hands, compared to its average volume of 60,864. The stock has a market capitalization of $339.39 million, a P/E ratio of 21.91 and a beta of 0.50. The company has a 50 day moving average of $5.85 and a 200-day moving average of $4.37. The company has a debt-to-equity ratio of 0.65, a current ratio of 1.26 and a quick ratio of 0.67. Alliance Entertainment has a 12 month low of $2.21 and a 12 month high of $11.57.

Alliance Entertainment (NASDAQ:AENT - Get Free Report) last announced its quarterly earnings data on Wednesday, September 10th. The company reported $0.11 earnings per share for the quarter. Alliance Entertainment had a return on equity of 18.35% and a net margin of 1.42%.The business had revenue of $227.75 million during the quarter.

Institutional Investors Weigh In On Alliance Entertainment

A number of hedge funds have recently bought and sold shares of the business. Bridgeway Capital Management LLC increased its position in shares of Alliance Entertainment by 18.4% during the second quarter. Bridgeway Capital Management LLC now owns 122,075 shares of the company's stock worth $460,000 after acquiring an additional 18,995 shares during the period. XTX Topco Ltd acquired a new position in Alliance Entertainment in the second quarter valued at approximately $59,000. Empowered Funds LLC boosted its position in 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 purchasing an additional 7,683 shares in the last quarter. OMERS ADMINISTRATION Corp lifted its stake in Alliance Entertainment by 179.0% in the 1st 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 in the last quarter. Finally, Clarity Capital Partners LLC grew its stake in Alliance Entertainment by 43,251.1% during the 1st 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 in the last quarter. Hedge funds and other 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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