Dolphin Entertainment (DLPN) Earns Buy Rating from Maxim Group

Maxim Group reiterated their buy rating on shares of Dolphin Entertainment (NASDAQ:DLPN) in a research note published on Thursday morning. Maxim Group currently has a $6.00 price objective on the stock.

“4Q17 revenue of $7.2 million was above our estimate of $6.5 million and the consensus estimate of $6.7 million. Adjusted EBTIDA of $1.1 million in 4Q17 was above our $0.9 million estimate. Several non-recurring and non-cash items led to a wider than expected net loss. We believe 42West is benefiting from its acqui-hires, and we expect its acquisition and acqui-hire strategy to continue throughout 2018, which we view as a primary driver of top line growth and shareholder value creation. We reiterate our Buy rating and $6 price target.”,” Maxim Group’s analyst wrote.

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Shares of NASDAQ DLPN opened at $3.10 on Thursday. The company has a debt-to-equity ratio of 0.17, a quick ratio of 0.32 and a current ratio of 0.32. Dolphin Entertainment has a 12-month low of $2.04 and a 12-month high of $11.99.

An institutional investor recently bought a new position in Dolphin Entertainment stock. Pacific Grove Capital LP acquired a new stake in Dolphin Entertainment (NASDAQ:DLPN) during the 4th quarter, according to its most recent filing with the Securities and Exchange Commission (SEC). The firm acquired 117,075 shares of the company’s stock, valued at approximately $421,000. Pacific Grove Capital LP owned approximately 1.04% of Dolphin Entertainment at the end of the most recent quarter. Institutional investors and hedge funds own 1.08% of the company’s stock.

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Dolphin Entertainment Company Profile

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

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