Alliance Entertainment (NASDAQ:AENT) Sets New 1-Year High – Time to Buy?

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

Alliance Entertainment Price Performance

The stock’s 50 day moving average is $6.04 and its two-hundred day moving average is $3.65. 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 stock has a market capitalization of $472.88 million, a PE ratio of 54.59 and a beta of 0.13.

Institutional Investors Weigh In On Alliance Entertainment

An institutional investor recently raised its position in Alliance Entertainment stock. Clarity Capital Partners LLC grew its holdings in shares of Alliance Entertainment Holding Co. (NASDAQ:AENT) by 13.6% in the third quarter, according to its most recent filing with the Securities and Exchange Commission (SEC). The fund 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 and Exchange Commission (SEC). 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.