PodcastOne (NASDAQ:PODC) Downgraded to Sell Rating by Wall Street Zen

Wall Street Zen downgraded shares of PodcastOne (NASDAQ:PODC) from a hold rating to a sell rating in a research note issued to investors on Saturday morning.

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

PodcastOne Stock Performance

Shares of PODC stock opened at $2.70 on Friday. The stock’s 50-day moving average is $3.76 and its two-hundred day moving average is $3.28. PodcastOne has a 1 year low of $1.30 and a 1 year high of $5.20. The firm has a market cap of $81.67 million, a price-to-earnings ratio of -22.50 and a beta of 2.15.

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

Insider Activity at PodcastOne

In related news, Director D Jonathan Merriman acquired 11,300 shares of the firm’s stock in a transaction that occurred on Monday, August 17th. The shares were purchased at an average price of $2.80 per share, with a total value of $31,640.00. Following the completion of the acquisition, the director owned 338,032 shares in the company, valued at approximately $946,489.60. This represents a 3.46% increase in their ownership of the stock. The purchase was disclosed in a document filed with the SEC, which is available through this hyperlink. 7.80% of the stock is owned by company insiders.

Institutional Investors Weigh In On PodcastOne

A number of hedge funds and other institutional investors have recently modified their holdings of the stock. Permanens Capital L.P. acquired a new stake in shares of PodcastOne in the 2nd quarter worth approximately $45,000. Dimensional Fund Advisors LP acquired a new position in PodcastOne during the first quarter worth $30,000. Creative Planning acquired a new position in PodcastOne during the second quarter worth $49,000. 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, NewEdge Advisors LLC purchased a new stake in PodcastOne during the fourth quarter worth $81,000. 2.87% of the stock is currently owned by institutional investors and hedge funds.

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.