Alliance Entertainment Holding Co. (NASDAQ:AENT) Sees Significant Drop in Short Interest

Alliance Entertainment Holding Co. (NASDAQ:AENT) was the target of a large drop in short interest in March. As of March 15th, there was short interest totalling 111,500 shares, a drop of 13.8% from the February 28th total of 129,400 shares. Based on an average trading volume of 99,100 shares, the days-to-cover ratio is currently 1.1 days. Approximately 3.6% of the company’s stock are short sold.

Alliance Entertainment Trading Up 4.9 %

NASDAQ AENT opened at $3.41 on Thursday. The firm has a market cap of $173.76 million, a PE ratio of 26.23 and a beta of 0.30. Alliance Entertainment has a 52 week low of $1.10 and a 52 week high of $11.57. The company has a quick ratio of 0.77, a current ratio of 1.24 and a debt-to-equity ratio of 0.84. The company has a 50 day moving average price of $4.48 and a 200 day moving average price of $4.79.

Alliance Entertainment (NASDAQ:AENT) last issued its quarterly earnings results 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 return on equity of 10.26% and a net margin of 0.62%.

Insider Buying and Selling at Alliance Entertainment

In other news, CEO Jeffrey Clinton Walker purchased 36,684 shares of the firm’s stock in a transaction on Wednesday, February 26th. The stock was acquired at an average cost of $3.85 per share, with a total value of $141,354.46. Following the completion of the transaction, the chief executive officer now owns 22,972,762 shares in the company, valued at $88,520,943.81. This represents a 0.16 % increase in their position. The purchase was disclosed in a legal filing with the SEC, which can be accessed through the SEC website. Insiders own 81.90% of the company’s stock.

Institutional Investors Weigh In On Alliance Entertainment

A number of hedge funds and other institutional investors have recently added to or reduced their stakes in AENT. OMERS ADMINISTRATION Corp acquired a new position in shares of Alliance Entertainment during the fourth quarter valued at about $91,000. Bridgeway Capital Management LLC purchased a new stake in Alliance Entertainment during the 4th quarter worth approximately $864,000. Marshall Wace LLP acquired a new position in Alliance Entertainment during the 4th quarter valued at approximately $440,000. Renaissance Technologies LLC acquired a new position in Alliance Entertainment during the 4th quarter valued at approximately $92,000. Finally, LPL Financial LLC purchased a new position in shares of Alliance Entertainment in the fourth quarter worth $130,000. 0.27% of the stock is currently owned by hedge funds and other institutional investors.

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.