PodcastOne (NASDAQ:PODC – Get Free Report) was upgraded by equities research analysts at Zacks Research from a “strong sell” rating to a “hold” rating in a report issued on Monday, Zacks reports.
A number of other research firms have also recently commented on PODC. Weiss Ratings reissued a “sell (d-)” rating on shares of PodcastOne in a research report on Monday, September 21st. Wall Street Zen downgraded shares of PodcastOne from a “hold” rating to a “sell” rating in a research note on Saturday, August 22nd. One analyst has rated the stock with a Hold rating and one has given a Sell rating to the stock. According to data from MarketBeat, PodcastOne has an average rating of “Reduce”.
Get Our Latest Analysis on PodcastOne
PodcastOne Stock Performance
Shares of NASDAQ:PODC opened at $1.68 on Monday. The business’s 50-day simple moving average is $2.41 and its 200 day simple moving average is $3.24. The company has a market cap of $50.83 million, a P/E ratio of -14.00 and a beta of 2.18. PodcastOne has a one year low of $1.41 and a one year high of $5.20.
PodcastOne (NASDAQ:PODC – Get Free Report) last released 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 company had revenue of $16.12 million during the quarter, compared to analysts’ expectations of $17.76 million. Analysts predict that PodcastOne will post -0.12 earnings per share for the current year.
Insider Activity at PodcastOne
In other news, Director D Merriman purchased 17,000 shares of the stock in a transaction dated Friday, August 14th. The stock was acquired at an average cost of $3.20 per share, for a total transaction of $54,400.00. Following the acquisition, the director owned 326,732 shares of the company’s stock, valued at $1,045,542.40. The trade was a 5.49% increase in their ownership of the stock. The acquisition was disclosed in a filing with the SEC, which is accessible through this link. In the last ninety days, insiders purchased 81,100 shares of company stock valued at $212,293. 7.80% of the stock is currently owned by company insiders.
Institutional Investors Weigh In On PodcastOne
Institutional investors and hedge funds have recently made changes to their positions in the company. Integrated Wealth Concepts LLC bought a new position in PodcastOne during the second quarter worth $32,000. Permanens Capital L.P. acquired a new position in PodcastOne in the second quarter worth $45,000. BlackRock Inc. acquired a new position in PodcastOne in the second quarter worth $280,000. NewEdge Advisors LLC boosted its holdings in PodcastOne by 168.2% in the first quarter. NewEdge Advisors LLC now owns 88,455 shares of the company’s stock worth $180,000 after purchasing an additional 55,473 shares during the period. Finally, Dimensional Fund Advisors LP bought a new stake in PodcastOne during the first quarter valued at $30,000. 2.87% of the stock is 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.
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