PodcastOne (NASDAQ:PODC) Upgraded to Hold at Zacks Research

Zacks Research upgraded shares of PodcastOne (NASDAQ:PODC) from a strong sell rating to a hold rating in a research report report published on Monday,Zacks reports.

Several other research firms have also recently commented on PODC. Weiss Ratings reaffirmed a “sell (d-)” rating on shares of PodcastOne in a research note on Monday, September 21st. Wall Street Zen downgraded PodcastOne from a “hold” rating to a “sell” rating in a report on Saturday, August 22nd. One investment 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 stock has an average rating of “Reduce”.

PodcastOne Stock Performance

Shares of PODC opened at $1.68 on Monday. The firm’s fifty day simple moving average is $2.41 and its two-hundred day simple moving average is $3.24. PodcastOne has a 12 month low of $1.41 and a 12 month high of $5.20. The stock has a market capitalization of $50.83 million, a P/E ratio of -14.00 and a beta of 2.18.

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

Insider Transactions at PodcastOne

In related news, Director D Merriman purchased 17,000 shares of PodcastOne stock in a transaction on 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 completion of the acquisition, the director owned 326,732 shares of the company’s stock, valued at $1,045,542.40. This trade represents a 5.49% increase in their position. The purchase was disclosed in a legal filing with the SEC, which can be accessed through this link. Insiders have acquired 81,100 shares of company stock worth $212,293 over the last 90 days. 7.80% of the stock is owned by corporate insiders.

Institutional Investors Weigh In On PodcastOne

Several hedge funds and other institutional investors have recently bought and sold shares of the stock. Dimensional Fund Advisors LP bought a new position in shares of PodcastOne during the 1st quarter worth about $30,000. Integrated Wealth Concepts LLC acquired a new stake in shares of PodcastOne in the 2nd quarter valued at about $32,000. Permanens Capital L.P. bought a new stake in PodcastOne in the 2nd quarter valued at about $45,000. NewEdge Advisors LLC increased its position in PodcastOne by 168.2% in the 1st quarter. NewEdge Advisors LLC now owns 88,455 shares of the company’s stock valued at $180,000 after buying an additional 55,473 shares in the last quarter. Finally, BlackRock Inc. bought a new stake in PodcastOne in the 2nd quarter valued at about $280,000. 2.87% of the stock is owned by institutional investors.

PodcastOne Company Profile

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.