PodcastOne (NASDAQ:PODC) Announces Earnings Results

PodcastOne (NASDAQ:PODCGet Free Report) posted its quarterly earnings data on Wednesday. The company reported ($0.02) earnings per share for the quarter, topping the consensus estimate of ($0.03) by $0.01, FiscalAI reports. The firm had revenue of $15.66 million during the quarter, compared to analyst estimates of $17.67 million. PodcastOne had a negative return on equity of 24.78% and a negative net margin of 6.22%.

PodcastOne Trading Down 0.7%

NASDAQ PODC opened at $4.10 on Wednesday. PodcastOne has a 12 month low of $1.30 and a 12 month high of $5.20. The firm has a market capitalization of $112.71 million, a P/E ratio of -27.33 and a beta of 1.98. The business has a fifty day simple moving average of $3.75 and a 200 day simple moving average of $2.89.

Insiders Place Their Bets

In other PodcastOne news, Director D Jonathan Merriman acquired 7,000 shares of PodcastOne stock in a transaction on Friday, May 22nd. The stock was purchased at an average price of $4.38 per share, for a total transaction of $30,660.00. Following the purchase, the director directly owned 309,732 shares of the company’s stock, valued at $1,356,626.16. This trade represents a 2.31% increase in their ownership of the stock. The transaction was disclosed in a document filed with the SEC, which is accessible through the SEC website. Insiders acquired a total of 21,700 shares of company stock valued at $62,262 over the last 90 days. 79.40% of the stock is currently owned by insiders.

Institutional Inflows and Outflows

Institutional investors have recently made changes to their positions in the company. Creative Planning purchased a new position in shares of PodcastOne in the second quarter worth about $49,000. Citadel Advisors LLC grew 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 buying an additional 30,541 shares in the last quarter. Finally, NewEdge Advisors LLC bought a new stake in PodcastOne during the fourth quarter valued at approximately $81,000. Hedge funds and other institutional investors own 2.87% of the company’s stock.

Analyst Upgrades and Downgrades

Several equities research analysts recently commented on PODC shares. Wall Street Zen raised PodcastOne to a “buy” rating in a research note on Saturday, June 6th. Weiss Ratings restated a “sell (d-)” rating on shares of PodcastOne in a report on Friday, March 27th. One investment analyst has rated the stock with a Hold rating and one has assigned a Sell rating to the company’s stock. Based on data from MarketBeat, the stock has a consensus rating of “Reduce”.

Get Our Latest Stock Analysis on PODC

PodcastOne Company Profile

(Get Free Report)

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.

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Earnings History for PodcastOne (NASDAQ:PODC)

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