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

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

Several other equities research analysts also recently issued reports on the company. Weiss Ratings reiterated a “sell (d-)” rating on shares of PodcastOne in a report on Wednesday, June 24th. Zacks Research cut PodcastOne from a “hold” rating to a “strong sell” rating in a research note on Wednesday, August 19th. Two investment analysts have rated the stock with a Sell rating, According to MarketBeat, the company presently has a consensus rating of “Sell”.

PodcastOne Stock Performance

Shares of NASDAQ PODC opened at $2.70 on Friday. The stock has a market cap of $81.68 million, a price-to-earnings ratio of -22.50 and a beta of 2.15. PodcastOne has a fifty-two week low of $1.30 and a fifty-two week high of $5.20. The firm’s 50-day simple moving average is $3.76 and its 200 day simple moving average is $3.29.

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

Insider Activity at PodcastOne

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

Institutional Trading of PodcastOne

A number of institutional investors and hedge funds have recently modified their holdings of the business. BlackRock Inc. purchased a new position in PodcastOne in the second quarter worth $280,000. NewEdge Advisors LLC grew its stake in 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 during the period. Citadel Advisors LLC increased its position in shares of PodcastOne by 267.5% during 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. Creative Planning purchased a new stake in shares of PodcastOne during the 2nd quarter valued at $49,000. Finally, Dimensional Fund Advisors LP bought a new stake in shares of PodcastOne during the 1st quarter worth $30,000. 2.87% of the stock is owned by hedge funds and other institutional investors.

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.