Alliance Entertainment (NASDAQ:AENT) Trading 7.1% Higher – Time to Buy?

Alliance Entertainment Holding Co. (NASDAQ:AENT)’s share price was up 7.1% during mid-day trading on Monday . The company traded as high as $10.70 and last traded at $10.38. Approximately 38,643 shares traded hands during mid-day trading, a decline of 60% from the average daily volume of 97,205 shares. The stock had previously closed at $9.69.

Alliance Entertainment Price Performance

The stock has a market cap of $472.88 million, a P/E ratio of 54.59 and a beta of 0.13. The company has a 50 day simple moving average of $6.04 and a 200 day simple moving average of $3.65. The company has a current ratio of 1.34, a quick ratio of 0.60 and a debt-to-equity ratio of 1.13.

Institutional Trading of Alliance Entertainment

An institutional investor recently raised its position in Alliance Entertainment stock. Clarity Capital Partners LLC lifted its stake in shares of Alliance Entertainment Holding Co. (NASDAQ:AENT) by 13.6% during the third quarter, according to the company in its most recent filing with the Securities & Exchange Commission. The institutional investor owned 25,000 shares of the company’s stock after purchasing an additional 3,000 shares during the period. Clarity Capital Partners LLC’s holdings in Alliance Entertainment were worth $68,000 at the end of the most recent quarter. 0.27% of the stock is currently owned by hedge funds and other institutional investors.

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.