Zacks Research Upgrades PodcastOne (NASDAQ:PODC) to “Hold”

PodcastOne (NASDAQ:PODC) was upgraded by investment analysts at Zacks Research from a “strong sell” rating to a “hold” rating in a research note issued on Monday, Zacks reports.

Other equities analysts have also recently issued reports about the company. Weiss Ratings restated a “sell (d-)” rating on shares of PodcastOne in a report on Monday, September 21st. Wall Street Zen downgraded PodcastOne from a “hold” rating to a “sell” rating in a research report on Saturday, August 22nd. One research analyst has rated the stock with a Hold rating and one has given a Sell rating to the company’s stock. According to MarketBeat.com, the company presently has an average rating of “Reduce”.

PodcastOne Price Performance

PODC opened at $1.68 on Monday. PodcastOne has a 52 week low of $1.41 and a 52 week high of $5.20. The business has a fifty day simple moving average of $2.41 and a 200-day simple moving average of $3.24. The firm has a market cap of $50.83 million, a P/E ratio of -14.00 and a beta of 2.18.

PodcastOne (NASDAQ:PODC) last posted its quarterly earnings data on Wednesday, August 12th. The company reported ($0.05) earnings per share (EPS) for the quarter. The firm 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%. Sell-side analysts expect that PodcastOne will post -0.12 earnings per share for the current year.

Insiders Place Their Bets

In other PodcastOne news, Director D Merriman bought 15,700 shares of the business’s stock in a transaction that occurred on Friday, August 21st. The shares were purchased at an average cost of $2.75 per share, with a total value of $43,175.00. Following the purchase, the director directly owned 353,732 shares in the company, valued at approximately $972,763. This represents a 4.64% increase in their ownership of the stock. The acquisition was disclosed in a document filed with the SEC, which can be accessed through the SEC website. Over the last quarter, insiders have purchased 81,100 shares of company stock worth $212,293. 7.80% of the stock is owned by corporate insiders.

Institutional Investors Weigh In On PodcastOne

A number of hedge funds have recently added to or reduced their stakes in the business. NewEdge Advisors LLC boosted its position 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 buying an additional 55,473 shares during the period. BlackRock Inc. acquired a new position in shares of PodcastOne in the second quarter worth $280,000. Dimensional Fund Advisors LP purchased a new stake in shares of PodcastOne during the first quarter worth $30,000. Permanens Capital L.P. purchased a new stake in shares of PodcastOne during the second quarter worth $45,000. Finally, Integrated Wealth Concepts LLC purchased a new stake in shares of PodcastOne during the second quarter worth $32,000. 2.87% of the stock is currently owned by institutional investors and hedge funds.

About PodcastOne

PodcastOne, Inc operates a digital podcast network and advertising platform. The company develops, produces, distributes and monetizes podcasts across a range of categories, including news, comedy, entertainment, sports, business, lifestyle and true crime.

Its services include podcast production and publishing, audience development, content distribution, sponsorship and advertising sales, and other forms of digital audio monetization. PodcastOne provides advertisers with opportunities to reach podcast audiences through host-read advertisements, programmatic advertising and integrated brand campaigns.