PodcastOne (NASDAQ:PODC) Lowered to Hold Rating by Wall Street Zen

PodcastOne (NASDAQ:PODC) was downgraded by Wall Street Zen from a “buy” rating to a “hold” rating in a research note issued to investors on Saturday.

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

PodcastOne Stock Up 4.6%

Shares of PODC stock opened at $4.08 on Friday. PodcastOne has a 52-week low of $1.30 and a 52-week high of $5.20. The stock has a market cap of $112.16 million, a PE ratio of -37.09 and a beta of 1.98. The business has a 50-day simple moving average of $3.86 and a 200-day simple moving average of $2.92.

PodcastOne (NASDAQ:PODC) last posted its earnings results on Wednesday, June 24th. The company reported ($0.02) EPS for the quarter, topping the consensus estimate of ($0.03) by $0.01. The firm had revenue of $15.67 million for the quarter, compared to analyst estimates of $15.15 million. PodcastOne had a negative return on equity of 17.55% and a negative net margin of 4.29%. Sell-side analysts anticipate that PodcastOne will post 0.02 earnings per share for the current fiscal year.

Insiders Place Their Bets

In other news, Director D Jonathan Merriman acquired 7,000 shares of the business’s stock in a transaction on Friday, May 22nd. The stock was bought at an average price of $4.38 per share, with a total value of $30,660.00. Following the completion of the acquisition, the director owned 309,732 shares of the company’s stock, valued at approximately $1,356,626.16. This represents a 2.31% increase in their ownership of the stock. The acquisition was disclosed in a document filed with the SEC, which is accessible through the SEC website. Insiders have acquired a total of 21,700 shares of company stock valued at $62,262 over the last three months. 79.40% of the stock is currently owned by insiders.

Institutional Investors Weigh In On PodcastOne

A number of institutional investors have recently modified their holdings of PODC. NewEdge Advisors LLC increased its stake in shares of PodcastOne by 168.2% in the 1st quarter. NewEdge Advisors LLC now owns 88,455 shares of the company’s stock valued at $180,000 after purchasing an additional 55,473 shares in the last quarter. Dimensional Fund Advisors LP acquired a new position in PodcastOne in the 1st quarter worth about $30,000. Citadel Advisors LLC boosted its position in PodcastOne by 267.5% during the third quarter. Citadel Advisors LLC now owns 41,958 shares of the company’s stock worth $70,000 after purchasing an additional 30,541 shares in the last quarter. Finally, Creative Planning purchased a new position in PodcastOne during the second quarter worth approximately $49,000. 2.87% of the stock is currently owned by institutional investors and hedge funds.

PodcastOne Company Profile

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.