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

Alliance Entertainment Holding Co. (NASDAQ:AENT) saw a large decline in short interest in the month of January. As of January 15th, there was short interest totalling 146,200 shares, a decline of 34.3% from the December 31st total of 222,400 shares. Currently, 4.7% of the company’s shares are sold short. Based on an average daily trading volume, of 98,200 shares, the days-to-cover ratio is currently 1.5 days.

Institutional Inflows and Outflows

A hedge fund recently raised its stake in Alliance Entertainment stock. Clarity Capital Partners LLC raised its position in Alliance Entertainment Holding Co. (NASDAQ:AENT) by 116.5% during the fourth quarter, according to the company in its most recent 13F filing with the Securities and Exchange Commission (SEC). The firm owned 54,125 shares of the company’s stock after purchasing an additional 29,125 shares during the quarter. Clarity Capital Partners LLC owned 0.11% of Alliance Entertainment worth $490,000 at the end of the most recent quarter. Hedge funds and other institutional investors own 0.27% of the company’s stock.

Alliance Entertainment Trading Up 7.0 %

NASDAQ AENT opened at $6.76 on Friday. The company has a 50-day moving average of $6.60 and a 200-day moving average of $4.01. The company has a debt-to-equity ratio of 1.13, a current ratio of 1.34 and a quick ratio of 0.60. Alliance Entertainment has a 12 month low of $1.10 and a 12 month high of $11.57. The company has a market cap of $344.49 million, a P/E ratio of 39.76 and a beta of 0.13.

Alliance Entertainment (NASDAQ:AENT) last posted its quarterly earnings results on Tuesday, November 12th. The company reported $0.01 earnings per share for the quarter. Alliance Entertainment had a net margin of 0.77% and a return on equity of 9.67%. The company had revenue of $228.99 million for the quarter.

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.