Alliance Entertainment (NASDAQ:AENT) Now Covered by Analysts at Noble Financial

Noble Financial started coverage on shares of Alliance Entertainment (NASDAQ:AENT) in a research report released on Friday,Zacks reports. The firm issued a strong-buy rating on the stock.

Separately, Weiss Ratings lowered Alliance Entertainment from a “hold (c+)” rating to a “hold (c-)” rating in a research note on Monday, September 28th. One equities research analyst has rated the stock with a Strong Buy rating and two have issued a Hold rating to the stock. According to data from MarketBeat.com, the stock has an average rating of “Moderate Buy” and an average target price of $8.00.

Alliance Entertainment Trading Down 5.0%

NASDAQ:AENT traded down $0.26 during trading hours on Friday, hitting $4.94. 57,004 shares of the stock were exchanged, compared to its average volume of 26,032. The company has a market capitalization of $251.82 million, a P/E ratio of 15.94 and a beta of 0.46. The company has a quick ratio of 0.65, a current ratio of 1.34 and a debt-to-equity ratio of 0.63. The company’s 50 day moving average is $4.77 and its two-hundred day moving average is $5.85. Alliance Entertainment has a twelve month low of $4.20 and a twelve month high of $8.80.

Alliance Entertainment (NASDAQ:AENT) last released its earnings results on Thursday, November 12th. The company reported $0.14 EPS for the quarter, beating the consensus estimate of $0.12 by $0.02. The company had revenue of $278.83 million during the quarter, compared to analysts’ expectations of $251.50 million. Alliance Entertainment had a return on equity of 21.87% and a net margin of 1.35%. On average, sell-side analysts anticipate that Alliance Entertainment will post 0.53 earnings per share for the current fiscal year.

Institutional Investors Weigh In On Alliance Entertainment

Several institutional investors have recently modified their holdings of AENT. North Star Investment Management Corp. acquired a new position in shares of Alliance Entertainment in the 3rd quarter valued at $1,122,000. Empowered Funds LLC bought a new position in shares of Alliance Entertainment in the 3rd quarter worth $709,000. Finally, Citadel Advisors LLC bought a new position in shares of Alliance Entertainment in the 2nd quarter worth $101,000. Institutional investors and hedge funds own 0.27% of the company’s stock.

About Alliance Entertainment

Alliance Entertainment is a distributor and wholesaler of physical entertainment products, including vinyl records, CDs, DVDs, Blu-ray discs, video games, toys, collectibles, books and consumer electronics. The company supplies products from a broad range of studios, record labels, publishers and manufacturers. Its customers include retailers, e-commerce businesses and specialty stores. Alliance Entertainment also provides distribution and fulfillment services, helping businesses source and deliver entertainment products to consumers.