Alliance Entertainment Holding Co. (NASDAQ:AENT) Sees Large Decrease in Short Interest

Alliance Entertainment Holding Co. (NASDAQ:AENT - Get Free Report) was the recipient of a significant decrease in short interest in March. As of March 31st, there was short interest totalling 94,700 shares, a decrease of 15.1% from the March 15th total of 111,500 shares. Based on an average daily trading volume, of 86,900 shares, the days-to-cover ratio is currently 1.1 days. Currently, 3.1% of the shares of the stock are sold short.

Insider Transactions at Alliance Entertainment

In other news, CEO Jeffrey Clinton Walker purchased 36,684 shares of the firm's stock in a transaction dated Wednesday, February 26th. The shares were purchased 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 in the company, valued at $88,520,943.81. This trade represents a 0.16 % increase in their position. The acquisition was disclosed in a filing with the SEC, which is available through this hyperlink. Insiders own 81.90% of the company's stock.

Institutional Trading of Alliance Entertainment

A number of hedge funds have recently made changes to their positions in the stock. Bridgeway Capital Management LLC purchased a new stake in Alliance Entertainment during the fourth quarter valued at about $864,000. Empowered Funds LLC bought a new position in shares of Alliance Entertainment during the 4th quarter valued at about $754,000. Marshall Wace LLP bought a new position in shares of Alliance Entertainment during the 4th quarter valued at about $440,000. Clarity Capital Partners LLC raised its holdings in shares of Alliance Entertainment by 116.5% during the 4th 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 in the last quarter. Finally, LPL Financial LLC bought a new stake in Alliance Entertainment in the 4th quarter worth approximately $130,000. 0.27% of the stock is owned by institutional investors.

Alliance Entertainment Price Performance

NASDAQ AENT traded up $0.19 during trading on Wednesday, reaching $3.09. The company's stock had a trading volume of 15,168 shares, compared to its average volume of 82,014. The firm has a fifty day moving average of $3.59 and a 200 day moving average of $4.81. Alliance Entertainment has a one year low of $1.10 and a one year high of $11.57. The stock has a market capitalization of $157.46 million, a PE ratio of 23.77 and a beta of 0.30. 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 - Get Free Report) last posted its quarterly earnings data on Thursday, February 13th. The company reported $0.19 earnings per share 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%.

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.