Alliance Entertainment (NASDAQ:AENT) Stock Price Up 7.1% – Still a Buy?

Alliance Entertainment Holding Co. (NASDAQ:AENT) shot up 7.1% on Monday . The company traded as high as $10.70 and last traded at $10.38. 38,643 shares changed hands during trading, a decline of 60% from the average session volume of 97,205 shares. The stock had previously closed at $9.69.

Alliance Entertainment Stock Down 6.5 %

The company has a market cap of $472.88 million, a price-to-earnings ratio of 54.59 and a beta of 0.13. The company has a current ratio of 1.34, a quick ratio of 0.60 and a debt-to-equity ratio of 1.13. The firm’s fifty day moving average price is $6.04 and its 200-day moving average price is $3.65.

Institutional Trading of Alliance Entertainment

A hedge fund recently raised its stake in Alliance Entertainment stock. Clarity Capital Partners LLC increased its stake in shares of Alliance Entertainment Holding Co. (NASDAQ:AENT) by 13.6% during the third quarter, according to the company in its most recent disclosure with the Securities & Exchange Commission. The firm owned 25,000 shares of the company’s stock after acquiring an additional 3,000 shares during the period. Clarity Capital Partners LLC’s holdings in Alliance Entertainment were worth $68,000 as of its most recent SEC filing. Institutional investors and hedge funds 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.