Dolphin Entertainment (NASDAQ: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 report sent to investors on Monday, 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. “

A number of other brokerages also recently issued reports on DLPN. Maxim Group set a $25.00 price target on Agilysys and gave the company a buy rating in a report on Friday, May 17th. Canaccord Genuity cut their price target on Yamana Gold from C$5.50 to C$4.25 in a report on Tuesday, April 16th. One 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 stock. The company has an average rating of Hold and an average price target of $3.17.

NASDAQ DLPN traded down $0.02 on Monday, reaching $1.01. 3,944 shares of the stock traded hands, compared to its average volume of 18,887. The company has a current ratio of 0.34, a quick ratio of 0.34 and a debt-to-equity ratio of 0.66. The stock’s fifty day simple moving average is $1.09. The company has a market cap of $14.54 million, a P/E ratio of -4.39 and a beta of 7.40. Dolphin Entertainment has a 12 month low of $0.71 and a 12 month high of $3.83.

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

In related news, CEO William Iv O’dowd purchased 17,500 shares of the business’s stock in a transaction dated Friday, June 28th. The shares were acquired at an average cost of $2.00 per share, for a total transaction of $35,000.00. The transaction was disclosed in a document filed with the SEC, which is available at the SEC website. Company insiders own 17.60% of the company’s stock.

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 third quarter, according to its most recent filing with the SEC. The firm purchased 137,382 shares of the company’s stock, valued at approximately $304,000. Vanguard Group Inc. owned 0.97% of Dolphin Entertainment at the end of the most recent quarter. Hedge funds and other institutional investors own 6.15% of the company’s stock.

About Dolphin Entertainment

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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