Alliance Entertainment Holding Co. (NASDAQ:AENT) Sees Significant Drop in Short Interest

Alliance Entertainment Holding Co. (NASDAQ:AENT) was the recipient of a large decrease in short interest during the month of March. As of March 15th, there was short interest totalling 111,500 shares, a decrease of 13.8% from the February 28th total of 129,400 shares. Approximately 3.6% of the shares of the stock are sold short. Based on an average daily volume of 99,100 shares, the days-to-cover ratio is currently 1.1 days.

Alliance Entertainment Price Performance

AENT stock opened at $3.25 on Wednesday. The company has a debt-to-equity ratio of 0.84, a quick ratio of 0.77 and a current ratio of 1.24. The firm has a market cap of $165.61 million, a P/E ratio of 25.00 and a beta of 0.17. The firm’s fifty day moving average is $4.52 and its 200 day moving average is $4.80. Alliance Entertainment has a 52 week low of $1.10 and a 52 week high of $11.57.

Alliance Entertainment (NASDAQ:AENT) last released its quarterly earnings data on Thursday, February 13th. The company reported $0.19 EPS for the quarter, missing the consensus estimate of $0.35 by ($0.16). Alliance Entertainment had a return on equity of 10.26% and a net margin of 0.62%.

Insider Activity

In other Alliance Entertainment news, CEO Jeffrey Clinton Walker purchased 36,684 shares of Alliance Entertainment stock in a transaction on Wednesday, February 26th. The shares were acquired at an average cost of $3.85 per share, for a total transaction of $141,354.46. Following the completion of the transaction, the chief executive officer now directly owns 22,972,762 shares of the company’s stock, valued at approximately $88,520,943.81. The trade was a 0.16 % increase in their ownership of the stock. The purchase was disclosed in a filing with the SEC, which is available through this hyperlink. Corporate insiders own 81.90% of the company’s stock.

Institutional Trading of Alliance Entertainment

Hedge funds and other institutional investors have recently bought and sold shares of the stock. OMERS ADMINISTRATION Corp purchased a new position in shares of Alliance Entertainment in the fourth quarter worth $91,000. Renaissance Technologies LLC bought a new stake in Alliance Entertainment in the 4th quarter worth $92,000. LPL Financial LLC purchased a new position in shares of Alliance Entertainment in the fourth quarter valued at about $130,000. Marshall Wace LLP bought a new position in shares of Alliance Entertainment during the fourth quarter valued at about $440,000. Finally, Clarity Capital Partners LLC boosted its holdings in shares of Alliance Entertainment by 116.5% during the fourth quarter. Clarity Capital Partners LLC now owns 54,125 shares of the company’s stock worth $490,000 after purchasing an additional 29,125 shares during the period. 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.