PodcastOne (NASDAQ:PODC) Upgraded at Zacks Research

Key Points

• Zacks Research upgraded PodcastOne from “strong sell” to “hold,” though other analysts remain bearish; the stock’s average MarketBeat rating is “Reduce.”
• PodcastOne reported a quarterly loss of $0.05 per share and revenue of $16.12 million, below analysts’ $17.76 million estimate. Analysts expect a full-year loss of $0.12 per share.
• Shares opened at $1.68, near the company’s 12-month low of $1.41 and well below its 50-day and 200-day moving averages; insiders have recently purchased 81,100 shares.

PodcastOne (NASDAQ:PODC - Get Free Report) was upgraded by analysts at Zacks Research from a "strong sell" rating to a "hold" rating in a research note issued on Monday, Zacks reports.

A number of other analysts have also weighed in on the company. Wall Street Zen lowered PodcastOne from a "hold" rating to a "sell" rating in a research report on Saturday, August 22nd. Weiss Ratings reissued a "sell (d-)" rating on shares of PodcastOne in a report on Monday, September 21st. One research analyst has rated the stock with a Hold rating and one has assigned a Sell rating to the company. According to MarketBeat, PodcastOne has an average rating of "Reduce".

PodcastOne Stock Performance

Shares of NASDAQ:PODC opened at $1.68 on Monday. The company has a market capitalization of $50.83 million, a price-to-earnings ratio of -14.00 and a beta of 2.18. The business has a 50-day moving average price of $2.41 and a 200 day moving average price of $3.24. PodcastOne has a 12-month low of $1.41 and a 12-month high of $5.20.

PodcastOne (NASDAQ:PODC - Get Free Report) last released its quarterly earnings results on Wednesday, August 12th. The company reported ($0.05) 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%. As a group, equities research analysts predict that PodcastOne will post -0.12 earnings per share for the current fiscal year.

Insider Buying and Selling

In other news, Director D Merriman acquired 15,700 shares of PodcastOne stock in a transaction that occurred on Friday, August 21st. The stock was purchased at an average price of $2.75 per share, for a total transaction of $43,175.00. Following the completion of the transaction, the director directly owned 353,732 shares in the company, valued at approximately $972,763. This trade represents a 4.64% increase in their ownership of the stock. The purchase was disclosed in a filing with the Securities & Exchange Commission, which is accessible through this link. Insiders have bought a total of 81,100 shares of company stock valued at $212,293 in the last three months. 7.80% of the stock is owned by company insiders.

Institutional Investors Weigh In On PodcastOne

A number of hedge funds and other institutional investors have recently bought and sold shares of the business. Integrated Wealth Concepts LLC acquired a new stake in shares of PodcastOne in the second quarter valued at about $32,000. Permanens Capital L.P. purchased a new stake in PodcastOne in the 2nd quarter valued at approximately $45,000. BlackRock Inc. acquired a new stake in shares of PodcastOne during the second quarter valued at $280,000. NewEdge Advisors LLC raised its position in shares of PodcastOne by 168.2% in the first 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 during the last quarter. Finally, Dimensional Fund Advisors LP purchased a new stake in PodcastOne in the 1st quarter worth approximately $30,000. Institutional investors and hedge funds own 2.87% of the company's stock.

About PodcastOne

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.

This instant news alert was generated by narrative science technology and financial data from MarketBeat in order to provide readers with the fastest reporting and unbiased coverage. Please send any questions or comments about this story to contact@marketbeat.com.