Dolphin Entertainment (DLPN) Downgraded by Zacks Investment Research

Zacks Investment Research downgraded shares of Dolphin Entertainment (NASDAQ:DLPN) from a hold rating to a sell rating in a research note published on Wednesday, Zacks.com reports.

According to Zacks, “Dolphin Entertainment, Inc. is engaged in production of digital content. The company’s operating segment consists of Dolphin Digital Media and Dolphin Digital Studios. Dolphin Digital Media segment creates and manages social networking websites for children. It has developed Dolphinsecure.com, which is a secure website for children using fingerprint reader technology. Dolphin Digital Studios segment creates original programming that premieres online, with an initial focus on content geared toward tweens and teens. It also provides production services to a related party. Dolphin Entertainment Inc., formerly known as Dolphin Digital Media Inc., is headquartered in Coral Gables, FL. “

Other equities research analysts have also issued reports about the stock. Maxim Group reiterated a buy rating and issued a $5.00 price target on shares of Dolphin Entertainment in a research note on Friday, May 17th. Canaccord Genuity lowered their price target on shares of Dolphin Entertainment from $3.00 to $2.50 and set a buy rating on the stock in a research note on Tuesday, April 16th. One equities research analyst has rated the stock with a sell rating, one has given a hold rating and three have issued a buy rating to the company. The company presently has an average rating of Hold and an average price target of $3.17.

DLPN opened at $1.11 on Wednesday. Dolphin Entertainment has a 12 month low of $0.71 and a 12 month high of $4.07. The company has a debt-to-equity ratio of 0.66, a quick ratio of 0.34 and a current ratio of 0.34.

Dolphin Entertainment (NASDAQ:DLPN) last posted its quarterly earnings data on Wednesday, May 15th. The company reported ($0.08) EPS for the quarter. The company had revenue of $6.24 million during the quarter. Dolphin Entertainment had a negative net margin of 15.74% and a negative return on equity of 35.90%. On average, equities research analysts anticipate that Dolphin Entertainment will post -0.17 earnings per share for the current fiscal year.

An institutional investor recently bought a new position in Dolphin Entertainment stock. Vanguard Group Inc purchased a new stake in Dolphin Entertainment Inc (NASDAQ:DLPN) during the 3rd quarter, according to its most recent filing with the Securities and Exchange Commission. The fund purchased 137,382 shares of the company’s stock, valued at approximately $304,000. Vanguard Group Inc owned about 0.97% of Dolphin Entertainment at the end of the most recent quarter. 6.15% of the stock is currently owned by hedge funds and other institutional investors.

Dolphin Entertainment Company Profile

Dolphin Entertainment, Inc produces and distributes online digital content in the United States. The company operates as a content producer of motion pictures, as well as produces Web series and feature films. In addition, it operates an entertainment public relations agency, which offers talent, marketing, and strategic communications services, as well as brand and digital marketing services.

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