Alliance Entertainment (NASDAQ:AENT) Posts Quarterly Earnings Results, Beats Expectations By $0.02 EPS

Alliance Entertainment (NASDAQ:AENT) released its quarterly earnings results on Wednesday. The company reported $0.10 earnings per share for the quarter, beating analysts’ consensus estimates of $0.08 by $0.02, FiscalAI reports. Alliance Entertainment had a net margin of 1.42% and a return on equity of 18.35%. The company had revenue of $253.97 million for the quarter, compared to analyst estimates of $237.30 million.

Alliance Entertainment Trading Up 0.8%

Shares of AENT opened at $6.81 on Thursday. Alliance Entertainment has a twelve month low of $2.21 and a twelve month high of $11.57. The company has a current ratio of 1.26, a quick ratio of 0.67 and a debt-to-equity ratio of 0.65. The company’s fifty day simple moving average is $6.46 and its 200-day simple moving average is $4.98. The company has a market cap of $346.78 million, a P/E ratio of 23.28 and a beta of 0.49.

Wall Street Analysts Forecast Growth

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

Hedge Funds Weigh In On Alliance Entertainment

Several institutional investors have recently bought and sold shares of AENT. Empowered Funds LLC increased its holdings in shares of Alliance Entertainment by 9.2% in the 1st 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 during the period. XTX Topco Ltd purchased a new position in shares of Alliance Entertainment during the second quarter worth $59,000. Finally, Bridgeway Capital Management LLC raised its stake in shares of Alliance Entertainment by 18.4% during the 2nd quarter. Bridgeway Capital Management LLC now owns 122,075 shares of the company’s stock valued at $460,000 after buying an additional 18,995 shares during the last quarter. 0.27% of the stock is owned by hedge funds and other institutional investors.

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.