Alliance Entertainment (NASDAQ:AENT) Stock Price Up 4.5% - Here's Why

Key Points

• Alliance Entertainment shares rose 4.5% to $4.69, though trading volume was 93% below the average session volume.
• Weiss Ratings downgraded the stock from “hold (c+)” to “hold (c-),” while the broader analyst consensus remains “Hold” with an average price target of $8.00.
• The company exceeded quarterly expectations, reporting $0.13 in EPS versus $0.01 expected and revenue of $268.1 million versus $234.95 million forecast.

Alliance Entertainment Holding Corporation (NASDAQ:AENT - Get Free Report) traded up 4.5% on Monday. The company traded as high as $4.73 and last traded at $4.69. Approximately 34,207 shares traded hands during trading, a decline of 93% from the average session volume of 470,130 shares. The stock had previously closed at $4.49.

Analyst Ratings Changes

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

Alliance Entertainment Trading Up 4.5%

The firm has a market cap of $239.07 million, a P/E ratio of 18.04 and a beta of 0.44. The company has a current ratio of 1.34, a quick ratio of 0.65 and a debt-to-equity ratio of 0.63. The company's fifty day moving average price is $5.32 and its two-hundred day moving average price is $6.01.

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 (EPS) for the quarter, beating the consensus estimate of $0.01 by $0.12. The firm had revenue of $268.10 million during the quarter, compared to the consensus estimate of $234.95 million. Alliance Entertainment had a net margin of 1.14% and a return on equity of 20.29%. As a group, sell-side analysts predict that Alliance Entertainment Holding Corporation will post 0.53 EPS for the current fiscal year.

Institutional Inflows and Outflows

Several institutional investors and hedge funds have recently modified their holdings of AENT. North Star Investment Management Corp. increased its stake in shares of Alliance Entertainment by 102.4% in the first quarter. North Star Investment Management Corp. now owns 168,000 shares of the company's stock valued at $1,100,000 after buying an additional 85,000 shares in the last quarter. Ritholtz Wealth Management lifted its position in Alliance Entertainment by 26.7% during the 1st quarter. Ritholtz Wealth Management now owns 96,479 shares of the company's stock worth $632,000 after buying an additional 20,358 shares in the last quarter. Citadel Advisors LLC acquired a new position in Alliance Entertainment during the 2nd quarter worth about $101,000. Empowered Funds LLC grew its holdings in Alliance Entertainment by 9.8% during the 1st quarter. Empowered Funds LLC now owns 135,837 shares of the company's stock worth $890,000 after acquiring an additional 12,110 shares during the last quarter. Finally, Kathmere Capital Management LLC acquired a new stake in Alliance Entertainment in the 1st quarter valued at about $68,000. 0.27% of the stock is owned by institutional investors and hedge funds.

About Alliance Entertainment

Alliance Entertainment Corporation NASDAQ: AENT is a distributor and wholesaler of entertainment products, serving retailers, e-commerce platforms and other commercial customers. The company's offerings include physical music products such as vinyl records, CDs and DVDs, as well as movies, video games, consumer electronics, toys, collectibles and related merchandise.

Through its distribution, fulfillment and e-commerce operations, Alliance Entertainment supports the movement of products from manufacturers and content owners to retailers and consumers.

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