PodcastOne (NASDAQ:PODC) Downgraded to “Strong Sell” Rating by Zacks Research

PodcastOne (NASDAQ:PODC) was downgraded by equities researchers at Zacks Research from a “hold” rating to a “strong sell” rating in a note issued to investors on Wednesday,Zacks.com reports.

Other research analysts have also issued reports about the stock. Weiss Ratings reissued a “sell (d-)” rating on shares of PodcastOne in a report on Wednesday, June 24th. Wall Street Zen downgraded shares of PodcastOne from a “buy” rating to a “hold” rating in a research note on Saturday, June 27th. Two investment analysts have rated the stock with a Sell rating, According to MarketBeat, PodcastOne presently has a consensus rating of “Sell”.

PodcastOne Price Performance

NASDAQ PODC opened at $2.52 on Wednesday. PodcastOne has a 1-year low of $1.30 and a 1-year high of $5.20. The business has a 50 day simple moving average of $3.79 and a two-hundred day simple moving average of $3.29. The stock has a market capitalization of $76.24 million, a PE ratio of -21.00 and a beta of 2.15.

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

Insiders Place Their Bets

In related news, Director D Jonathan Merriman acquired 11,300 shares of PodcastOne stock in a transaction on Monday, August 17th. The shares were bought at an average cost of $2.80 per share, with a total value of $31,640.00. Following the completion of the purchase, the director directly owned 338,032 shares of the company’s stock, valued at $946,489.60. The trade was a 3.46% increase in their position. The acquisition was disclosed in a legal filing with the SEC, which is available at the SEC website. 7.80% of the stock is owned by insiders.

Institutional Investors Weigh In On PodcastOne

Several institutional investors have recently modified their holdings of the stock. NewEdge Advisors LLC purchased a new position in shares of PodcastOne in the 4th quarter worth approximately $81,000. Permanens Capital L.P. purchased a new stake in PodcastOne during the 2nd quarter valued at $45,000. BlackRock Inc. bought a new stake in PodcastOne in the second quarter worth $280,000. Citadel Advisors LLC lifted its position in PodcastOne by 267.5% in the third quarter. Citadel Advisors LLC now owns 41,958 shares of the company’s stock worth $70,000 after buying an additional 30,541 shares during the last quarter. Finally, Creative Planning purchased a new position in PodcastOne during the second quarter worth $49,000. 2.87% of the stock is owned by institutional investors.

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.