Dolphin Entertainment, Inc. (NASDAQ:DLPN) Short Interest Down 32.8% in December
Dolphin Entertainment, Inc. (NASDAQ: DLPN) benefited from a sharp decline in short-term interest in December. As of December 31, there was short interest totaling 144,300 shares, down 32.8% from the total of 214,600 shares as of December 15. Based on an average daily trading volume of 137,100 shares, the day-to-cover ratio is currently 1.1 days.
Separately, Maxim Group reiterated a “buy” rating and issued a $30.00 price target on Dolphin Entertainment shares in a report on Friday, October 15.
Shares of Dolphin Entertainment opened at $6.59 on Monday. Dolphin Entertainment has a 1-year minimum of $3.72 and a 1-year maximum of $32.50. The company has a fifty-day simple moving average of $8.71 and a 200-day simple moving average of $10.20. The company has a debt ratio of 0.34, a quick ratio of 1.29 and a current ratio of 1.29.
Dolphin Entertainment Inc (NASDAQ:DLPN) last released its quarterly earnings data on Monday, November 22. The company reported EPS of $0.02 for the quarter, beating analysts’ consensus estimate of $0.01 by $0.01. Dolphin Entertainment had a negative net margin of 14.76% and a negative return on equity of 3.78%. The company had revenue of $9.40 million for the quarter.
Hedge funds and other institutional investors have recently increased or reduced their stakes in the company. State Street Corp acquired a new position in Dolphin Entertainment in Q2 worth approximately $900,000. First Republic Investment Management Inc. increased its stake in Dolphin Entertainment to 75.9% in the third quarter. First Republic Investment Management Inc. now owns 122,994 shares of the company worth $1,496,000 after acquiring 53,087 additional shares last quarter. Essex Investment Management Co. LLC bought a new position in Dolphin Entertainment in the third quarter worth approximately $589,000. Dimensional Fund Advisors LP bought a new position in Dolphin Entertainment in the second quarter worth approximately $262,000. Finally, GSA Capital Partners LLP purchased a new stake in shares of Dolphin Entertainment in the third quarter worth approximately $316,000. Institutional investors hold 18.36% of the company’s shares.
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About Dolphin Entertainment
Dolphin Entertainment, Inc is engaged in the provision of entertainment marketing and content development. It operates through the following segments of Advertising and Entertainment Marketing and Content Production. The Advertising and Entertainment Marketing segment includes 42West, The Door, Viewpoint and Shore Fire Media.
Further Reading: Asset Allocation
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