Alliance Entertainment (NASDAQ:AENT) Stock Price Down 1.1% – Should You Sell?

Alliance Entertainment Holding Corporation (NASDAQ:AENT)’s share price was down 1.1% during trading on Wednesday . The company traded as low as $5.32 and last traded at $5.44. Approximately 14,035 shares traded hands during mid-day trading, a decline of 53% from the average daily volume of 29,625 shares. The stock had previously closed at $5.50.

Wall Street Analysts Forecast Growth

A number of equities analysts have recently commented on the stock. Wall Street Zen lowered shares of Alliance Entertainment from a “strong-buy” rating to a “hold” rating in a research report on Saturday, February 14th. Maxim Group set a $8.00 price objective on shares of Alliance Entertainment in a research report on Friday, February 13th. Weiss Ratings lowered shares of Alliance Entertainment from a “hold (c+)” rating to a “hold (c)” rating in a research report on Wednesday, June 3rd. Finally, Zacks Research upgraded shares of Alliance Entertainment from a “strong sell” rating to a “hold” rating in a research report on Tuesday, April 14th. Two 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, the stock has an average rating of “Moderate Buy” and an average price target of $10.00.

Alliance Entertainment Stock Down 1.1%

The stock’s fifty day moving average price is $6.70 and its 200 day moving average price is $6.87. The stock has a market cap of $277.30 million, a P/E ratio of 12.36 and a beta of 0.41. The company has a current ratio of 1.33, a quick ratio of 0.63 and a debt-to-equity ratio of 0.54.

Alliance Entertainment (NASDAQ:AENT) last issued its quarterly earnings results on Thursday, May 14th. The company reported $0.05 EPS for the quarter, topping analysts’ consensus estimates of $0.02 by $0.03. The firm had revenue of $258.20 million for the quarter, compared to analyst estimates of $226.09 million. Alliance Entertainment had a net margin of 2.01% and a return on equity of 19.91%. As a group, research analysts forecast that Alliance Entertainment Holding Corporation will post 0.35 earnings per share for the current fiscal year.

Institutional Investors Weigh In On Alliance Entertainment

Several hedge funds have recently added to or reduced their stakes in AENT. North Star Investment Management Corp. lifted its stake in Alliance Entertainment by 102.4% during the first quarter. North Star Investment Management Corp. now owns 168,000 shares of the company’s stock worth $1,100,000 after purchasing an additional 85,000 shares during the last quarter. Rothschild Wealth LLC bought a new stake in Alliance Entertainment during the fourth quarter worth about $525,000. O Shaughnessy Asset Management LLC lifted its stake in Alliance Entertainment by 91.5% during the fourth quarter. O Shaughnessy Asset Management LLC now owns 130,855 shares of the company’s stock worth $1,057,000 after purchasing an additional 62,510 shares during the last quarter. Marshall Wace LLP bought a new stake in Alliance Entertainment during the fourth quarter worth about $422,000. Finally, Ritholtz Wealth Management lifted its stake in Alliance Entertainment by 78.8% during the fourth quarter. Ritholtz Wealth Management now owns 76,121 shares of the company’s stock worth $615,000 after purchasing an additional 33,540 shares during the last quarter. Institutional investors own 0.27% of the company’s stock.

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.