Dolphin Entertainment (NASDAQ:DLPN) Rating Lowered to Sell at 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 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 have also recently issued reports on DLPN. ValuEngine upgraded Dolphin Entertainment from a “sell” rating to a “hold” rating in a report on Wednesday, October 2nd. Maxim Group restated a “buy” rating and issued a $2.50 target price on shares of Dolphin Entertainment in a report on Friday, November 15th.

Shares of NASDAQ DLPN traded down $0.02 during mid-day trading on Monday, reaching $0.53. The company had a trading volume of 74,478 shares, compared to its average volume of 18,910. The company has a current ratio of 0.27, a quick ratio of 0.27 and a debt-to-equity ratio of 0.97. The stock has a market cap of $9.36 million, a PE ratio of -2.28 and a beta of 7.31. The company has a 50-day moving average price of $0.69 and a two-hundred day moving average price of $0.94. Dolphin Entertainment has a 1-year low of $0.45 and a 1-year high of $1.90.

A hedge fund recently raised its stake in Dolphin Entertainment stock. Vanguard Group Inc. increased its stake in Dolphin Entertainment Inc (NASDAQ:DLPN) by 258.9% during the second quarter, according to its most recent filing with the Securities & Exchange Commission. The fund owned 527,778 shares of the company’s stock after acquiring an additional 380,724 shares during the quarter. Vanguard Group Inc. owned approximately 3.67% of Dolphin Entertainment worth $554,000 at the end of the most recent quarter. Institutional investors own 6.54% 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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