Alliance Entertainment (NASDAQ:AENT) Trading Down 6.5% – Should You Sell?

Shares of Alliance Entertainment Holding Corporation (NASDAQ:AENT) traded down 6.5% during mid-day trading on Friday . The stock traded as low as $6.76 and last traded at $6.91. 63,753 shares changed hands during mid-day trading, an increase of 21% from the average session volume of 52,865 shares. The stock had previously closed at $7.39.

Analyst Ratings Changes

A number of equities analysts recently weighed in on the company. Weiss Ratings reaffirmed a “hold (c)” rating on shares of Alliance Entertainment in a report on Wednesday, January 21st. Industrial Alliance Securities set a $11.00 target price on shares of Alliance Entertainment in a report on Monday, October 6th. Noble Financial began coverage on Alliance Entertainment in a research report on Monday, October 6th. They set an “outperform” rating and a $11.00 price objective on the stock. Finally, Zacks Research raised shares of Alliance Entertainment to a “hold” rating in a report on Tuesday, October 7th. Two research analysts have rated the stock with a Buy rating and two have given a Hold rating to the company’s stock. According to data from MarketBeat.com, Alliance Entertainment currently has an average rating of “Moderate Buy” and an average target price of $10.67.

Alliance Entertainment Trading Down 6.5%

The company has a quick ratio of 0.64, a current ratio of 1.28 and a debt-to-equity ratio of 0.62. The company has a market cap of $352.13 million, a PE ratio of 17.72 and a beta of 0.47. The business has a 50-day simple moving average of $7.48 and a 200-day simple moving average of $6.54.

Alliance Entertainment (NASDAQ:AENT) last announced its earnings results on Wednesday, November 12th. The company reported $0.10 EPS for the quarter, beating analysts’ consensus estimates of $0.08 by $0.02. The company had revenue of $253.97 million during the quarter, compared to analysts’ expectations of $237.30 million. Alliance Entertainment had a return on equity of 21.87% and a net margin of 1.80%.

Institutional Inflows and Outflows

Institutional investors and hedge funds have recently bought and sold shares of the stock. North Star Investment Management Corp. acquired a new position in shares of Alliance Entertainment during the fourth quarter worth about $671,000. Ritholtz Wealth Management purchased a new stake in shares of Alliance Entertainment during the 3rd quarter worth approximately $290,000. Jacobs Levy Equity Management Inc. purchased a new stake in Alliance Entertainment in the third quarter valued at $193,000. Millennium Management LLC lifted its holdings in shares of Alliance Entertainment by 29.2% in the 3rd quarter. Millennium Management LLC now owns 85,510 shares of the company’s stock valued at $582,000 after purchasing an additional 19,325 shares during the last quarter. Finally, Bridgeway Capital Management LLC lifted its stake in Alliance Entertainment by 18.4% in the second quarter. Bridgeway Capital Management LLC now owns 122,075 shares of the company’s stock valued at $460,000 after buying an additional 18,995 shares during the last quarter. 0.27% of the stock is owned by institutional investors and hedge funds.

Alliance Entertainment Company Profile

Alliance Entertainment (NASDAQ: AENT) is a distributor of physical media and related entertainment products, serving retailers, public libraries and online merchants. The company’s core business revolves around the wholesale distribution of music and video titles on CD, DVD and Blu-ray formats, as well as vinyl records, audiobooks, video games and select gift and novelty items. By maintaining a broad catalog of new and catalog titles, Alliance Entertainment enables brick-and-mortar and e-commerce channels to access an extensive range of products from major and independent labels.

In addition to its product offerings, Alliance Entertainment provides supply-chain and logistics services designed to streamline inventory management and order fulfillment.