PodcastOne (NASDAQ:PODC) Downgraded to “Strong Sell” Rating by Zacks Research

Zacks Research downgraded shares of PodcastOne (NASDAQ:PODC) from a hold rating to a strong sell rating in a report released on Wednesday,Zacks.com reports.

Other equities analysts also recently issued reports about the company. Weiss Ratings reiterated a “sell (d-)” rating on shares of PodcastOne in a research report on Wednesday, June 24th. Wall Street Zen cut PodcastOne from a “buy” rating to a “hold” rating in a report on Saturday, June 27th. Two analysts have rated the stock with a Sell rating, According to data from MarketBeat.com, the stock has an average rating of “Sell”.

PodcastOne Trading Down 6.3%

Shares of PodcastOne stock opened at $2.52 on Wednesday. The company has a 50-day moving average of $3.79 and a two-hundred day moving average of $3.29. PodcastOne has a 12-month low of $1.30 and a 12-month high of $5.20. The stock has a market cap of $76.24 million, a PE ratio of -21.00 and a beta of 2.15.

PodcastOne (NASDAQ:PODC) last issued its quarterly earnings data on Wednesday, August 12th. The company reported ($0.05) earnings per share (EPS) for the quarter. PodcastOne had a negative return on equity of 17.56% and a negative net margin of 5.01%.The firm had revenue of $16.12 million for the quarter, compared to analyst estimates of $17.76 million. On average, sell-side analysts forecast that PodcastOne will post -0.12 EPS for the current fiscal year.

Insider Buying and Selling

In other PodcastOne news, Director D Jonathan Merriman bought 17,000 shares of the company’s stock in a transaction on Friday, August 14th. The shares were bought at an average cost of $3.20 per share, with a total value of $54,400.00. Following the completion of the acquisition, the director owned 326,732 shares of the company’s stock, valued at approximately $1,045,542.40. This trade represents a 5.49% increase in their ownership of the stock. The acquisition was disclosed in a document filed with the Securities & Exchange Commission, which is accessible through this hyperlink. 7.80% of the stock is currently owned by corporate insiders.

Institutional Inflows and Outflows

Institutional investors and hedge funds have recently modified their holdings of the business. Dimensional Fund Advisors LP bought a new stake in PodcastOne during the first quarter worth approximately $30,000. Permanens Capital L.P. acquired a new stake in PodcastOne during the second quarter valued at approximately $45,000. Creative Planning acquired a new stake in PodcastOne during the second quarter valued at approximately $49,000. Citadel Advisors LLC boosted its stake in shares of PodcastOne by 267.5% during the 3rd quarter. Citadel Advisors LLC now owns 41,958 shares of the company’s stock worth $70,000 after acquiring an additional 30,541 shares in the last quarter. Finally, NewEdge Advisors LLC acquired a new position in shares of PodcastOne in the 4th quarter worth $81,000. Institutional investors own 2.87% of the company’s stock.

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.