Alliance Entertainment (NASDAQ:AENT) Shares Down 8.3% – Here’s Why

Alliance Entertainment Holding Co. (NASDAQ:AENT)’s share price fell 8.3% during mid-day trading on Tuesday . The stock traded as low as $3.04 and last traded at $3.31. 116,139 shares were traded during trading, an increase of 49% from the average session volume of 77,787 shares. The stock had previously closed at $3.61.

Alliance Entertainment Stock Performance

The stock has a market capitalization of $168.67 million, a P/E ratio of 25.46 and a beta of 0.17. The stock’s 50-day simple moving average is $5.63 and its 200 day simple moving average is $4.57. The company has a debt-to-equity ratio of 0.84, a current ratio of 1.24 and a quick ratio of 0.77.

Alliance Entertainment (NASDAQ:AENT) last announced its earnings results on Thursday, February 13th. The company reported $0.19 EPS for the quarter, missing the consensus estimate of $0.35 by ($0.16). Alliance Entertainment had a return on equity of 10.26% and a net margin of 0.62%.

Insider Transactions at Alliance Entertainment

In other news, CEO Jeffrey Clinton Walker bought 36,684 shares of the company’s stock in a transaction dated Wednesday, February 26th. The stock was bought at an average price of $3.85 per share, with a total value of $141,354.46. Following the completion of the acquisition, the chief executive officer now owns 22,972,762 shares of the company’s stock, valued at $88,520,943.81. This represents a 0.16 % increase in their ownership of the stock. The acquisition was disclosed in a document filed with the SEC, which is accessible through this link. Corporate insiders own 81.90% of the company’s stock.

Hedge Funds Weigh In On Alliance Entertainment

Institutional investors and hedge funds have recently modified their holdings of the business. Bridgeway Capital Management LLC acquired a new stake in Alliance Entertainment in the 4th quarter worth about $864,000. Empowered Funds LLC acquired a new stake in shares of Alliance Entertainment in the fourth quarter valued at approximately $754,000. Marshall Wace LLP acquired a new stake in shares of Alliance Entertainment in the fourth quarter valued at approximately $440,000. Clarity Capital Partners LLC boosted its stake in shares of Alliance Entertainment by 116.5% in the fourth quarter. Clarity Capital Partners LLC now owns 54,125 shares of the company’s stock valued at $490,000 after buying an additional 29,125 shares during the period. Finally, LPL Financial LLC acquired a new stake in Alliance Entertainment during the fourth quarter worth approximately $130,000. 0.27% of the stock is currently owned by institutional investors and hedge funds.

Alliance Entertainment Company Profile

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.