Alliance Entertainment (NASDAQ:AENT) Stock Rating Lowered by Zacks Research

Alliance Entertainment (NASDAQ:AENT) was downgraded by analysts at Zacks Research from a “hold” rating to a “strong sell” rating in a report released on Tuesday,Zacks.com reports.

Several other equities analysts have also issued reports on AENT. Maxim Group set a $8.00 price target on Alliance Entertainment in a research report on Friday, February 13th. Weiss Ratings restated a “hold (c)” rating on shares of Alliance Entertainment in a research note on Wednesday, January 21st. Finally, Wall Street Zen downgraded shares of Alliance Entertainment from a “strong-buy” rating to a “hold” rating in a research note on Saturday, February 14th. Two equities research analysts have rated the stock with a Buy rating, one has given a Hold rating and one has issued a Sell rating to the stock. According to data from MarketBeat, Alliance Entertainment presently has a consensus rating of “Hold” and a consensus target price of $10.00.

Alliance Entertainment Price Performance

AENT stock opened at $4.62 on Tuesday. The firm has a 50-day moving average of $7.34 and a 200 day moving average of $6.63. The company has a debt-to-equity ratio of 0.72, a current ratio of 1.35 and a quick ratio of 0.79. The company has a market cap of $235.44 million, a P/E ratio of 10.74 and a beta of 0.46. Alliance Entertainment has a 1 year low of $2.21 and a 1 year high of $8.80.

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

Hedge Funds Weigh In On Alliance Entertainment

Several hedge funds and other institutional investors have recently modified their holdings of AENT. Empowered Funds LLC boosted its stake in shares of Alliance Entertainment by 10.3% in the 4th quarter. Empowered Funds LLC now owns 123,727 shares of the company’s stock worth $1,000,000 after buying an additional 11,562 shares during the last quarter. Quadrature Capital Ltd bought a new position in Alliance Entertainment in the fourth quarter valued at about $143,000. Bridgeway Capital Management LLC boosted its position in Alliance Entertainment by 8.6% in the fourth quarter. Bridgeway Capital Management LLC now owns 145,927 shares of the company’s stock worth $1,179,000 after purchasing an additional 11,562 shares during the last quarter. Rothschild Wealth LLC purchased a new position in Alliance Entertainment in the fourth quarter worth about $525,000. Finally, Marshall Wace LLP bought a new stake in shares of Alliance Entertainment during the 4th quarter valued at about $422,000. 0.27% of the stock is owned by institutional investors.

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.