PodcastOne (NASDAQ:PODC) Issues Earnings Results, Beats Expectations By $0.01 EPS

PodcastOne (NASDAQ:PODC) announced its quarterly earnings data on Thursday. The company reported ($0.02) earnings per share (EPS) for the quarter, topping the consensus estimate of ($0.03) by $0.01, Zacks reports. The business had revenue of $15.41 million during the quarter, compared to the consensus estimate of $17.28 million. PodcastOne had a negative net margin of 5.01% and a negative return on equity of 17.56%.

PodcastOne Stock Performance

PODC traded up $0.23 during trading on Thursday, hitting $2.38. 178,051 shares of the stock were exchanged, compared to its average volume of 133,767. The firm has a 50 day simple moving average of $2.17 and a 200 day simple moving average of $2.96. The firm has a market cap of $72.00 million, a price-to-earnings ratio of -20.11 and a beta of 2.14. PodcastOne has a 1 year low of $1.41 and a 1 year high of $5.20.

Insiders Place Their Bets

In other news, Director D Merriman bought 15,700 shares of the stock in a transaction on Friday, August 21st. The stock was acquired at an average cost of $2.75 per share, for a total transaction of $43,175.00. Following the acquisition, the director owned 353,732 shares of the company’s stock, valued at $972,763. This represents a 4.64% increase in their ownership of the stock. The acquisition was disclosed in a document filed with the Securities & Exchange Commission, which can be accessed through this link. Over the last three months, insiders acquired 81,100 shares of company stock worth $212,293. Insiders own 7.80% of the company’s stock.

Analyst Upgrades and Downgrades

A number of research analysts have recently commented on the company. Weiss Ratings cut PodcastOne from a “sell (d-)” rating to a “sell (e+)” rating in a research note on Wednesday. Zacks Research raised PodcastOne from a “strong sell” rating to a “hold” rating in a research note on Monday, October 19th. Finally, Wall Street Zen cut PodcastOne from a “hold” rating to a “sell” rating in a report on Saturday, August 22nd. One analyst has rated the stock with a Hold rating and one has issued a Sell rating to the company. Based on data from MarketBeat.com, the company presently has an average rating of “Reduce”.

About PodcastOne

PodcastOne, Inc. operates a podcast network and digital audio platform that produces, distributes, hosts and monetizes podcasts. Its services include podcast advertising, sponsorship sales, audience development, content production and technology support for podcast creators and publishers. The company’s programming spans news, comedy, entertainment, sports, business, lifestyle and true crime. PodcastOne distributes its shows through its own platform and major third-party audio services, while also providing advertisers with opportunities to reach podcast audiences through host-read advertisements, sponsorships and other integrated campaigns.