PodcastOne (NASDAQ:PODC) Cut to Sell at Wall Street Zen

Wall Street Zen cut shares of PodcastOne (NASDAQ:PODC) from a hold rating to a sell rating in a research report released on Saturday morning.

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

PodcastOne Stock Performance

Shares of PODC opened at $2.65 on Friday. The stock has a 50-day moving average of $3.74 and a two-hundred day moving average of $3.28. The stock has a market cap of $80.16 million, a P/E ratio of -22.08 and a beta of 2.15. PodcastOne has a one year low of $1.30 and a one year high of $5.20.

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

Insiders Place Their Bets

In related news, Director D Jonathan Merriman purchased 17,000 shares of PodcastOne stock in a transaction that occurred on Friday, August 14th. The stock was bought at an average cost of $3.20 per share, for a total transaction of $54,400.00. Following the completion of the transaction, the director owned 326,732 shares in the company, 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 document filed with the SEC, which is accessible through this link. Corporate insiders own 7.80% of the company’s stock.

Institutional Investors Weigh In On PodcastOne

Hedge funds and other institutional investors have recently made changes to their positions in the company. Permanens Capital L.P. purchased a new position in shares of PodcastOne during the 2nd quarter valued at approximately $45,000. Dimensional Fund Advisors LP purchased a new stake in PodcastOne during the first quarter worth $30,000. Creative Planning acquired a new stake in PodcastOne during the second quarter valued at $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 valued at $70,000 after buying an additional 30,541 shares during the period. Finally, NewEdge Advisors LLC purchased a new position in PodcastOne in the fourth quarter valued at $81,000. Institutional investors and hedge funds own 2.87% of the company’s stock.

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.