Alliance Entertainment (NASDAQ:AENT) Announces Earnings Results

Alliance Entertainment (NASDAQ:AENT) issued its quarterly earnings data on Wednesday. The company reported $0.10 earnings per share (EPS) for the quarter, beating the consensus estimate of $0.08 by $0.02, FiscalAI reports. Alliance Entertainment had a net margin of 1.80% and a return on equity of 22.39%. The company had revenue of $253.97 million during the quarter, compared to the consensus estimate of $237.30 million.

Alliance Entertainment Stock Performance

Shares of Alliance Entertainment stock traded down $0.27 on Friday, hitting $6.39. The stock had a trading volume of 30,245 shares, compared to its average volume of 61,027. The stock has a market cap of $325.43 million, a price-to-earnings ratio of 16.37 and a beta of 0.49. The business’s 50 day moving average is $6.47 and its two-hundred day moving average is $4.99. The company has a quick ratio of 0.67, a current ratio of 1.26 and a debt-to-equity ratio of 0.65. Alliance Entertainment has a twelve month low of $2.21 and a twelve month high of $11.57.

Wall Street Analyst Weigh In

Several research firms recently issued reports on AENT. Wall Street Zen cut shares of Alliance Entertainment from a “strong-buy” rating to a “buy” rating in a report on Friday, September 5th. Weiss Ratings reaffirmed a “hold (c)” rating on shares of Alliance Entertainment in a report on Wednesday, October 8th. Industrial Alliance Securities set a $11.00 price objective on Alliance Entertainment in a research note on Monday, October 6th. Noble Financial assumed coverage on shares of Alliance Entertainment in a research report on Monday, October 6th. They issued an “outperform” rating and a $11.00 price target on the stock. Finally, Zacks Research upgraded shares of Alliance Entertainment to a “hold” rating in a report on Tuesday, October 7th. Two equities research analysts have rated the stock with a Buy rating and two have issued a Hold rating to the company’s stock. Based on data from MarketBeat.com, the company has a consensus rating of “Moderate Buy” and a consensus price target of $10.67.

Institutional Inflows and Outflows

Several large investors have recently added to or reduced their stakes in AENT. XTX Topco Ltd acquired a new stake in shares of Alliance Entertainment during the second quarter worth $59,000. Empowered Funds LLC grew its stake in shares of Alliance Entertainment by 9.2% in the first quarter. Empowered Funds LLC now owns 90,880 shares of the company’s stock valued at $304,000 after acquiring an additional 7,683 shares in the last quarter. Finally, Bridgeway Capital Management LLC increased its position in 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. 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.