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

PodcastOne (NASDAQ:PODC) posted its quarterly earnings results on Wednesday. The company reported ($0.02) EPS for the quarter, topping analysts’ consensus estimates of ($0.03) by $0.01, FiscalAI reports. PodcastOne had a negative return on equity of 24.78% and a negative net margin of 6.22%.The business had revenue of $15.66 million during the quarter, compared to analysts’ expectations of $17.67 million.

PodcastOne Price Performance

NASDAQ:PODC opened at $4.10 on Wednesday. PodcastOne has a one year low of $1.30 and a one year high of $5.20. The company has a market cap of $112.71 million, a PE ratio of -27.33 and a beta of 1.98. The firm’s 50 day simple moving average is $3.75 and its 200 day simple moving average is $2.89.

Insider Activity

In other PodcastOne news, Director D Jonathan Merriman purchased 7,000 shares of the business’s stock in a transaction dated Friday, May 22nd. The shares were bought at an average price of $4.38 per share, for a total transaction of $30,660.00. Following the completion of the acquisition, the director owned 309,732 shares in the company, valued at approximately $1,356,626.16. This trade represents a 2.31% increase in their ownership of the stock. The purchase was disclosed in a document filed with the Securities & Exchange Commission, which is available at this link. Insiders have acquired a total of 21,700 shares of company stock worth $62,262 over the last ninety days. 79.40% of the stock is currently owned by company insiders.

Institutional Inflows and Outflows

Several large investors have recently bought and sold shares of PODC. Creative Planning bought a new position in shares of PodcastOne during the second quarter worth about $49,000. Citadel Advisors LLC raised its holdings in PodcastOne by 267.5% during the 3rd quarter. Citadel Advisors LLC now owns 41,958 shares of the company’s stock worth $70,000 after purchasing an additional 30,541 shares during the last quarter. Finally, NewEdge Advisors LLC acquired a new position in shares of PodcastOne in the 4th quarter worth approximately $81,000. 2.87% of the stock is owned by institutional investors.

Analysts Set New Price Targets

A number of research firms have recently issued reports on PODC. Wall Street Zen upgraded shares of PodcastOne to a “buy” rating in a research note on Saturday, June 6th. Weiss Ratings reaffirmed a “sell (d-)” rating on shares of PodcastOne in a research report on Friday, March 27th. One investment 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, the company currently 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.