Noble Financial Initiates Coverage on Alliance Entertainment (NASDAQ:AENT)

Research analysts at Noble Financial assumed coverage on shares of Alliance Entertainment (NASDAQ:AENT) in a research note issued to investors on Friday, Zacks reports. The firm set a “strong-buy” rating on the stock.

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

Alliance Entertainment Stock Performance

NASDAQ AENT traded down $0.26 on Friday, reaching $4.94. 57,004 shares of the stock were exchanged, compared to its average volume of 26,032. Alliance Entertainment has a one year low of $4.20 and a one year high of $8.80. The firm has a market capitalization of $251.82 million, a PE ratio of 15.94 and a beta of 0.46. The company’s 50-day simple moving average is $4.77 and its two-hundred day simple moving average is $5.85. The company has a current ratio of 1.34, a quick ratio of 0.65 and a debt-to-equity ratio of 0.63.

Alliance Entertainment (NASDAQ:AENT) last issued its quarterly earnings results on Thursday, November 12th. The company reported $0.14 earnings per share for the quarter, beating the consensus estimate of $0.12 by $0.02. The business had revenue of $278.83 million for the quarter, compared to the consensus estimate of $251.50 million. Alliance Entertainment had a net margin of 1.35% and a return on equity of 21.87%. Analysts expect that Alliance Entertainment will post 0.53 EPS for the current fiscal year.

Hedge Funds Weigh In On Alliance Entertainment

Several large investors have recently made changes to their positions in the business. North Star Investment Management Corp. bought a new position in shares of Alliance Entertainment in the third quarter worth about $1,122,000. Empowered Funds LLC purchased a new stake in shares of Alliance Entertainment during the third quarter worth about $709,000. Finally, Citadel Advisors LLC purchased a new stake in shares of Alliance Entertainment during the second quarter worth about $101,000. 0.27% of the stock is currently owned by hedge funds and other institutional investors.

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.