Alliance Entertainment (NASDAQ:AENT) Hits New 12-Month High – Here’s Why

Alliance Entertainment Holding Co. (NASDAQ:AENT)’s stock price hit a new 52-week high during mid-day trading on Tuesday . The stock traded as high as $11.57 and last traded at $10.51, with a volume of 23705 shares trading hands. The stock had previously closed at $10.26.

Alliance Entertainment Stock Up 5.1 %

The business has a fifty day moving average price of $5.91 and a two-hundred day moving average price of $3.60. 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 firm has a market capitalization of $549.32 million, a price-to-earnings ratio of 63.41 and a beta of 0.13.

Hedge Funds Weigh In On Alliance Entertainment

A hedge fund recently raised its stake in Alliance Entertainment stock. Clarity Capital Partners LLC raised its position in shares of Alliance Entertainment Holding Co. (NASDAQ:AENT) by 13.6% in the 3rd quarter, according to the company in its most recent disclosure with the Securities & Exchange Commission. The firm owned 25,000 shares of the company’s stock after buying an additional 3,000 shares during the period. Clarity Capital Partners LLC’s holdings in Alliance Entertainment were worth $68,000 as of its most recent filing with the Securities & Exchange Commission. Hedge funds and other institutional investors own 0.27% of the company’s stock.

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.