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

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

Alliance Entertainment Price Performance

The company has a debt-to-equity ratio of 1.13, a current ratio of 1.34 and a quick ratio of 0.60. The company has a market capitalization of $535.05 million, a P/E ratio of 61.76 and a beta of 0.13. The firm’s 50-day moving average is $5.77 and its 200-day moving average is $3.55.

Hedge Funds Weigh In On 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% in the third quarter, according to the company in its most recent filing with the Securities and Exchange Commission. The firm owned 25,000 shares of the company’s stock after acquiring an additional 3,000 shares during the quarter. Clarity Capital Partners LLC’s holdings in Alliance Entertainment were worth $68,000 at the end of the most recent reporting period. Hedge funds and other institutional investors own 0.27% of the company’s stock.

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.