Alliance Entertainment (NASDAQ:AENT) Trading Down 8.3% - Time to Sell?

Alliance Entertainment Holding Co. (NASDAQ:AENT - Get Free Report)'s stock price fell 8.3% during mid-day trading on Tuesday . The company 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 firm has a market cap of $168.67 million, a price-to-earnings ratio of 25.46 and a beta of 0.17. The stock has a 50-day moving average of $5.63 and a 200-day moving average of $4.57. The company has a debt-to-equity ratio of 0.84, a quick ratio of 0.77 and a current ratio of 1.24.

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 (EPS) for the quarter, missing analysts' consensus estimates of $0.35 by ($0.16). Alliance Entertainment had a net margin of 0.62% and a return on equity of 10.26%.

Insiders Place Their Bets

In related news, CEO Jeffrey Clinton Walker purchased 36,684 shares of the firm's stock in a transaction on Wednesday, February 26th. The stock was purchased at an average cost of $3.85 per share, for a total transaction of $141,354.46. Following the completion of the purchase, the chief executive officer now directly owns 22,972,762 shares in the company, valued at $88,520,943.81. This trade represents a 0.16 % increase in their ownership of the stock. The acquisition was disclosed in a legal filing with the Securities & Exchange Commission, which can be accessed through this hyperlink. Insiders own 81.90% of the company's stock.

Institutional Investors Weigh In On Alliance Entertainment

A number of institutional investors and hedge funds have recently made changes to their positions in AENT. Empowered Funds LLC acquired a new position in Alliance Entertainment during the fourth quarter worth $754,000. Clarity Capital Partners LLC grew its position in shares of Alliance Entertainment by 116.5% in the 4th quarter. Clarity Capital Partners LLC now owns 54,125 shares of the company's stock valued at $490,000 after acquiring an additional 29,125 shares during the period. LPL Financial LLC acquired a new position in shares of Alliance Entertainment during the 4th quarter worth about $130,000. Renaissance Technologies LLC bought a new stake in shares of Alliance Entertainment in the 4th quarter valued at about $92,000. Finally, Marshall Wace LLP acquired a new position in Alliance Entertainment during the fourth quarter worth approximately $440,000. Institutional investors own 0.27% of the company's stock.

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.

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