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

Alliance Entertainment Holding Co. (NASDAQ:AENT - Get Free Report) was the recipient of a significant decline in short interest in the month of February. As of February 28th, there was short interest totalling 129,400 shares, a decline of 29.6% from the February 13th total of 183,700 shares. Based on an average daily volume of 105,400 shares, the days-to-cover ratio is presently 1.2 days. Approximately 4.2% of the shares of the company are short sold.

Insider Buying and Selling

In related news, CEO Jeffrey Clinton Walker purchased 36,684 shares of the business's stock in a transaction on Wednesday, February 26th. The shares were bought at an average cost of $3.85 per share, with a total value of $141,354.46. Following the transaction, the chief executive officer now owns 22,972,762 shares of the company's stock, valued at approximately $88,520,943.81. This trade represents a 0.16 % increase in their ownership of the stock. The acquisition was disclosed in a filing with the Securities & Exchange Commission, which is accessible through this hyperlink. Corporate insiders own 81.90% of the company's stock.

Institutional Investors Weigh In On Alliance Entertainment

Several hedge funds have recently modified their holdings of the company. OMERS ADMINISTRATION Corp acquired a new stake in Alliance Entertainment in the fourth quarter valued at approximately $91,000. Renaissance Technologies LLC acquired a new stake in Alliance Entertainment in the 4th quarter valued at $92,000. LPL Financial LLC purchased a new stake in Alliance Entertainment in the 4th quarter worth $130,000. Marshall Wace LLP acquired a new position in Alliance Entertainment during the fourth quarter worth $440,000. Finally, Clarity Capital Partners LLC lifted its holdings in Alliance Entertainment by 116.5% during the fourth quarter. Clarity Capital Partners LLC now owns 54,125 shares of the company's stock valued at $490,000 after purchasing an additional 29,125 shares in the last quarter. 0.27% of the stock is owned by hedge funds and other institutional investors.

Remove Ads

Alliance Entertainment Stock Performance

Shares of AENT traded up $0.04 during mid-day trading on Wednesday, reaching $3.69. The company had a trading volume of 14,424 shares, compared to its average volume of 77,801. Alliance Entertainment has a 52-week low of $1.10 and a 52-week high of $11.57. The stock has a market capitalization of $188.03 million, a P/E ratio of 28.39 and a beta of 0.17. The stock has a 50 day moving average of $5.03 and a two-hundred day moving average of $4.64. The company has a quick ratio of 0.77, a current ratio of 1.24 and a debt-to-equity ratio of 0.84.

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

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.