Dolphin Entertainment (DLPN) Downgraded by Zacks Investment Research

Dolphin Entertainment (NASDAQ:DLPN) was downgraded by Zacks Investment Research from a “hold” rating to a “sell” rating in a report issued 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. “

Several other research firms have also weighed in on DLPN. Canaccord Genuity lowered their target price on Dolphin Entertainment from $3.00 to $2.50 and set a “buy” rating on the stock in a report on Tuesday, April 16th. Maxim Group reissued a “buy” rating and issued a $4.50 target price on shares of Dolphin Entertainment in a report on Tuesday, April 16th. One research analyst has rated the stock with a sell rating, one has assigned a hold rating and three have assigned a buy rating to the company. Dolphin Entertainment has a consensus rating of “Hold” and an average price target of $3.17.

DLPN stock traded down $0.04 on Wednesday, reaching $1.05. 389 shares of the company’s stock were exchanged, compared to its average volume of 36,217. Dolphin Entertainment has a twelve month low of $0.71 and a twelve month high of $4.07. The company has a quick ratio of 0.34, a current ratio of 0.34 and a debt-to-equity ratio of 0.66.

Dolphin Entertainment (NASDAQ:DLPN) last posted its earnings results on Wednesday, May 15th. The company reported ($0.08) earnings per share for the quarter. The firm 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%. As a group, equities research analysts anticipate that Dolphin Entertainment will post -0.17 EPS for the current year.

An institutional investor recently bought a new position in Dolphin Entertainment stock. Vanguard Group Inc. bought a new stake in Dolphin Entertainment Inc (NASDAQ:DLPN) during the 3rd quarter, according to the company in its most recent Form 13F filing with the Securities & Exchange Commission. The institutional investor bought 137,382 shares of the company’s stock, valued at approximately $304,000. Vanguard Group Inc. owned about 0.97% of Dolphin Entertainment as of its most recent filing with the Securities & Exchange Commission. 6.15% of the stock is owned by 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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