Zacks Research Upgrades Alliance Entertainment (NASDAQ:AENT) to Hold

Alliance Entertainment (NASDAQ:AENT) was upgraded by stock analysts at Zacks Research from a “strong sell” rating to a “hold” rating in a note issued to investors on Tuesday,Zacks.com reports.

Several other brokerages have also weighed in on AENT. Wall Street Zen lowered Alliance Entertainment from a “strong-buy” rating to a “hold” rating in a research report on Saturday, February 14th. Maxim Group set a $8.00 target price on Alliance Entertainment in a research report on Friday, February 13th. Finally, Weiss Ratings reiterated a “hold (c)” rating on shares of Alliance Entertainment in a report on Wednesday, January 21st. Two equities research analysts have rated the stock with a Buy rating and two have issued a Hold rating to the company. According to data from MarketBeat.com, Alliance Entertainment has a consensus rating of “Moderate Buy” and an average price target of $10.00.

Alliance Entertainment Trading Down 0.4%

Shares of AENT opened at $6.93 on Tuesday. The company has a current ratio of 1.35, a quick ratio of 0.79 and a debt-to-equity ratio of 0.72. The firm has a market capitalization of $353.15 million, a P/E ratio of 16.12 and a beta of 0.39. The stock’s fifty day simple moving average is $6.40 and its 200 day simple moving average is $6.81. Alliance Entertainment has a twelve month low of $2.22 and a twelve month high of $8.80.

Alliance Entertainment (NASDAQ:AENT) last issued its earnings results on Thursday, February 12th. The company reported $0.18 earnings per share for the quarter, missing the consensus estimate of $0.31 by ($0.13). The firm had revenue of $368.71 million during the quarter, compared to analysts’ expectations of $427.38 million. Alliance Entertainment had a return on equity of 20.53% and a net margin of 2.06%.

Institutional Trading of Alliance Entertainment

Several large investors have recently added to or reduced their stakes in the stock. Bridgeway Capital Management LLC increased its holdings in Alliance Entertainment by 8.6% in the 4th quarter. Bridgeway Capital Management LLC now owns 145,927 shares of the company’s stock valued at $1,179,000 after purchasing an additional 11,562 shares in the last quarter. O Shaughnessy Asset Management LLC increased its holdings in Alliance Entertainment by 91.5% in the 4th quarter. O Shaughnessy Asset Management LLC now owns 130,855 shares of the company’s stock valued at $1,057,000 after purchasing an additional 62,510 shares in the last quarter. Empowered Funds LLC increased its holdings in Alliance Entertainment by 10.3% in the 4th quarter. Empowered Funds LLC now owns 123,727 shares of the company’s stock valued at $1,000,000 after purchasing an additional 11,562 shares in the last quarter. Millennium Management LLC increased its holdings in Alliance Entertainment by 29.2% in the 3rd quarter. Millennium Management LLC now owns 85,510 shares of the company’s stock valued at $582,000 after purchasing an additional 19,325 shares in the last quarter. Finally, North Star Investment Management Corp. acquired a new stake in Alliance Entertainment in the 4th quarter valued at $671,000. 0.27% of the stock is currently owned by institutional investors and hedge funds.

Alliance Entertainment Company Profile

Alliance Entertainment (NASDAQ: AENT) is a distributor of physical media and related entertainment products, serving retailers, public libraries and online merchants. The company’s core business revolves around the wholesale distribution of music and video titles on CD, DVD and Blu-ray formats, as well as vinyl records, audiobooks, video games and select gift and novelty items. By maintaining a broad catalog of new and catalog titles, Alliance Entertainment enables brick-and-mortar and e-commerce channels to access an extensive range of products from major and independent labels.

In addition to its product offerings, Alliance Entertainment provides supply-chain and logistics services designed to streamline inventory management and order fulfillment.