Zacks Research Downgrades PodcastOne (NASDAQ:PODC) to Strong Sell

PodcastOne (NASDAQ:PODC) was downgraded by equities researchers at Zacks Research from a “hold” rating to a “strong sell” rating in a report issued on Wednesday,Zacks.com reports.

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

PodcastOne Price Performance

PodcastOne stock opened at $2.52 on Wednesday. The stock has a market capitalization of $76.24 million, a P/E ratio of -21.00 and a beta of 2.15. The firm’s 50-day moving average is $3.79 and its two-hundred day moving average is $3.29. PodcastOne has a 12-month low of $1.30 and a 12-month high of $5.20.

PodcastOne (NASDAQ:PODC) last announced its quarterly earnings data on Wednesday, August 12th. The company reported ($0.05) EPS for the quarter. The business had revenue of $16.12 million during the quarter, compared to analysts’ expectations of $17.76 million. PodcastOne had a negative net margin of 5.01% and a negative return on equity of 17.56%. As a group, analysts forecast that PodcastOne will post -0.12 EPS for the current year.

Insiders Place Their Bets

In related news, Director D Jonathan Merriman purchased 11,300 shares of PodcastOne stock in a transaction dated Monday, August 17th. The stock was bought at an average cost of $2.80 per share, with a total value of $31,640.00. Following the purchase, the director owned 338,032 shares in the company, valued at approximately $946,489.60. The trade was a 3.46% increase in their position. The acquisition was disclosed in a filing with the Securities & Exchange Commission, which is available through this link. 7.80% of the stock is owned by insiders.

Institutional Inflows and Outflows

Several institutional investors have recently modified their holdings of the stock. Permanens Capital L.P. bought a new stake in shares of PodcastOne during the 2nd quarter worth $45,000. Dimensional Fund Advisors LP acquired a new stake in shares of PodcastOne during the first quarter worth $30,000. Creative Planning acquired a new stake in shares of PodcastOne during the second quarter worth $49,000. NewEdge Advisors LLC purchased a new stake in shares of PodcastOne during the fourth quarter valued at $81,000. Finally, Citadel Advisors LLC lifted its holdings in shares of PodcastOne by 267.5% during the third 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. Institutional investors 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.