PodcastOne (NASDAQ:PODC) Announces Earnings Results, Beats Estimates By $0.01 EPS

PodcastOne (NASDAQ:PODC) posted its quarterly earnings results on Wednesday. The company reported ($0.02) EPS for the quarter, topping the consensus estimate of ($0.03) by $0.01, FiscalAI reports. The business had revenue of $15.66 million for 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 Stock Performance

PODC stock opened at $4.10 on Wednesday. PodcastOne has a 52 week low of $1.30 and a 52 week high of $5.20. The stock has a market cap of $112.71 million, a P/E ratio of -27.33 and a beta of 1.98. The firm has a 50 day simple moving average of $3.75 and a 200 day simple moving average of $2.89.

Insiders Place Their Bets

In related news, Director D Jonathan Merriman acquired 7,000 shares of the stock in a transaction dated Friday, May 22nd. The shares were acquired at an average price of $4.38 per share, with a total value of $30,660.00. Following the acquisition, the director owned 309,732 shares in the company, valued at approximately $1,356,626.16. The trade was a 2.31% increase in their position. The purchase was disclosed in a legal filing with the SEC, which can be accessed through this link. Insiders have purchased a total of 21,700 shares of company stock worth $62,262 over the last 90 days. 79.40% of the stock is currently owned by company insiders.

Hedge Funds Weigh In On PodcastOne

Hedge funds and other institutional investors have recently made changes to their positions in the business. Creative Planning acquired a new stake in shares of PodcastOne in the second quarter valued at approximately $49,000. NewEdge Advisors LLC acquired a new position in shares of PodcastOne in the 4th quarter valued at approximately $81,000. Finally, Citadel Advisors LLC increased its position in shares of 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 acquiring an additional 30,541 shares in the last quarter. 2.87% of the stock is owned by institutional investors.

Analyst Ratings Changes

Several equities analysts recently commented on the company. Weiss Ratings reissued a “sell (d-)” rating on shares of PodcastOne in a report on Friday, March 27th. Wall Street Zen upgraded PodcastOne to a “buy” rating in a research note on Saturday, June 6th. One research 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.com, PodcastOne has an average rating of “Reduce”.

About PodcastOne

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.