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

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

Alliance Entertainment Price Performance

NASDAQ:AENT opened at $3.55 on Tuesday. Alliance Entertainment has a 52 week low of $1.10 and a 52 week high of $11.57. The firm has a market cap of $180.90 million, a price-to-earnings ratio of 27.31 and a beta of 0.17. The firm’s 50-day simple moving average is $5.15 and its 200 day simple moving average is $4.63. 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) last released 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 net margin of 0.62% and a return on equity of 10.26%.

Insider Transactions at Alliance Entertainment

In other Alliance Entertainment news, CEO Jeffrey Clinton Walker purchased 36,684 shares of the stock in a transaction that occurred on Wednesday, February 26th. The shares were 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. The trade was a 0.16 % increase in their ownership of the stock. The purchase was disclosed in a legal filing with the Securities & Exchange Commission, which is accessible through the SEC website. 81.90% of the stock is currently owned by corporate insiders.

Hedge Funds Weigh In On Alliance Entertainment

Hedge funds have recently bought and sold shares of the company. OMERS ADMINISTRATION Corp acquired a new stake in shares of Alliance Entertainment in the 4th quarter valued at approximately $91,000. Renaissance Technologies LLC acquired a new stake in shares of Alliance Entertainment in the 4th quarter valued at approximately $92,000. LPL Financial LLC acquired a new stake in shares of Alliance Entertainment in the 4th quarter valued at approximately $130,000. Clarity Capital Partners LLC boosted its stake 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 purchasing an additional 29,125 shares in the last quarter. Finally, Marshall Wace LLP acquired a new stake in shares of Alliance Entertainment in the 4th quarter valued at approximately $440,000. 0.27% of the stock is owned by 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.