PodcastOne (NASDAQ:PODC) Stock Rating Upgraded by Wall Street Zen

PodcastOne (NASDAQ:PODC) was upgraded by equities researchers at Wall Street Zen to a “buy” rating in a research note issued to investors on Saturday.

Separately, Weiss Ratings restated a “sell (d-)” rating on shares of PodcastOne in a report on Friday, March 27th. One research analyst has rated the stock with a Hold rating and one has assigned a Sell rating to the company. According to MarketBeat.com, the stock has an average rating of “Reduce”.

PodcastOne Trading Up 1.7%

Shares of PodcastOne stock opened at $4.22 on Friday. The company has a fifty day simple moving average of $3.26 and a 200-day simple moving average of $2.73. PodcastOne has a 12-month low of $1.30 and a 12-month high of $5.20. The stock has a market cap of $116.01 million, a price-to-earnings ratio of -28.13 and a beta of 1.98.

Insider Activity

In related news, Director D Jonathan Merriman bought 7,000 shares of the stock in a transaction dated Friday, May 22nd. The stock was acquired at an average price of $4.38 per share, for a total transaction of $30,660.00. Following the acquisition, the director owned 309,732 shares in the company, valued at approximately $1,356,626.16. This represents a 2.31% increase in their position. The transaction was disclosed in a document filed with the SEC, which can be accessed through the SEC website. In the last ninety days, insiders have acquired 30,980 shares of company stock valued at $83,251. Corporate insiders own 79.40% of the company’s stock.

Institutional Inflows and Outflows

Several large investors have recently modified their holdings of the stock. Creative Planning purchased a new stake in PodcastOne in the 2nd quarter valued at $49,000. Citadel Advisors LLC raised its position in PodcastOne by 267.5% in the 3rd quarter. Citadel Advisors LLC now owns 41,958 shares of the company’s stock valued at $70,000 after purchasing an additional 30,541 shares during the last quarter. NewEdge Advisors LLC purchased a new stake in PodcastOne in the 4th quarter valued at $81,000. Finally, Dimensional Fund Advisors LP purchased a new stake in PodcastOne in the 1st quarter valued at $30,000. Institutional investors and hedge funds own 2.87% of the company’s stock.

About PodcastOne

PodcastOne is a leading digital audio network specializing in the development, production and distribution of original podcast programming. The company offers a diverse slate of exclusive shows spanning genres such as entertainment, sports, business, politics and lifestyle. Its content lineup features long-form interviews, narrative series and personality-driven talk formats designed to engage listeners across North America and beyond.

The company’s revenue model centers on advertising and branded content solutions.