Canaccord Genuity Initiates Coverage on Dolphin Entertainment (DLPN)

Canaccord Genuity began coverage on shares of Dolphin Entertainment (NASDAQ:DLPN) in a research note published on Wednesday, MarketBeat.com reports. The firm issued a buy rating and a $3.00 price target on the stock.

Other equities analysts have also recently issued research reports about the company. Maxim Group set a $6.00 price objective on Dolphin Entertainment and gave the company a buy rating in a report on Thursday, October 18th. LADENBURG THALM/SH SH set a $2.00 price objective on Dolphin Entertainment and gave the company a buy rating in a report on Tuesday, November 20th. ValuEngine cut Dolphin Entertainment from a buy rating to a hold rating in a report on Thursday, August 2nd. Finally, Zacks Investment Research upgraded Dolphin Entertainment from a sell rating to a hold rating in a report on Tuesday, July 24th. Two analysts have rated the stock with a hold rating and three have assigned a buy rating to the stock. The company currently has an average rating of Buy and an average price target of $3.33.

Shares of NASDAQ DLPN opened at $1.46 on Wednesday. The company has a current ratio of 0.56, a quick ratio of 0.28 and a debt-to-equity ratio of 0.09. Dolphin Entertainment has a fifty-two week low of $1.05 and a fifty-two week high of $8.00.

Dolphin Entertainment (NASDAQ:DLPN) last announced its quarterly earnings data on Monday, November 19th. The company reported $0.01 earnings per share for the quarter, meeting the Thomson Reuters’ consensus estimate of $0.01. The company had revenue of $5.72 million during the quarter. Dolphin Entertainment had a negative return on equity of 30.24% and a negative net margin of 6.20%. As a group, research analysts predict that Dolphin Entertainment will post 0.14 EPS for the current year.

A number of institutional investors have recently bought and sold shares of the stock. Vanguard Group Inc. bought a new position in Dolphin Entertainment during the third quarter worth about $304,000. First Wilshire Securities Management Inc. grew its holdings in Dolphin Entertainment by 1,741.1% during the third quarter. First Wilshire Securities Management Inc. now owns 185,051 shares of the company’s stock worth $409,000 after purchasing an additional 175,000 shares during the period. Granite Investment Partners LLC bought a new position in Dolphin Entertainment during the third quarter worth about $339,000. Royal Bank of Canada bought a new position in Dolphin Entertainment during the first quarter worth about $122,000. Finally, Millennium Management LLC bought a new position in Dolphin Entertainment during the first quarter worth about $244,000. Institutional investors and hedge funds own 1.80% 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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