PodcastOne (NASDAQ:PODC) Upgraded to "Hold" at Wall Street Zen

Key Points

• Wall Street Zen upgraded PodcastOne from “sell” to “hold,” while analyst opinions remain mixed; MarketBeat reports an average rating of “Reduce.”
• PodcastOne shares were up 5% and opened at $2.29. The company reported a quarterly loss of $0.02 per share, slightly better than estimates, but revenue of $15.41 million fell short of the $17.28 million consensus.
• Insiders bought 64,100 shares worth about $157,893 over the past 90 days; insiders own 7.8% of the company.

PodcastOne (NASDAQ:PODC - Get Free Report) was upgraded by equities researchers at Wall Street Zen from a "sell" rating to a "hold" rating in a report released on Saturday, Wall Street Zen reports.

Other research analysts also recently issued research reports about the company. Weiss Ratings downgraded PodcastOne from a "sell (d-)" rating to a "sell (e+)" rating in a research note on Wednesday. Zacks Research raised PodcastOne from a "strong sell" rating to a "hold" rating in a research report on Monday, October 19th. One equities research analyst has rated the stock with a Hold rating and one has assigned a Sell rating to the company's stock. According to MarketBeat, the stock currently has an average rating of "Reduce".

PodcastOne Stock Up 5.0%

PodcastOne stock opened at $2.29 on Friday. The company's fifty day simple moving average is $2.15 and its 200-day simple moving average is $2.96. PodcastOne has a 12 month low of $1.41 and a 12 month high of $5.20. The stock has a market cap of $69.27 million, a P/E ratio of -22.90 and a beta of 2.14.

PodcastOne (NASDAQ:PODC - Get Free Report) last posted its quarterly earnings results on Thursday, November 12th. The company reported ($0.02) earnings per share for the quarter, topping analysts' consensus estimates of ($0.03) by $0.01. PodcastOne had a negative net margin of 4.21% and a negative return on equity of 13.96%. The business had revenue of $15.41 million for the quarter, compared to the consensus estimate of $17.28 million. On average, equities research analysts expect that PodcastOne will post -0.12 earnings per share for the current fiscal year.

Insider Activity at PodcastOne

In other PodcastOne news, Director D Merriman acquired 15,700 shares of the company's stock in a transaction dated Friday, August 21st. The shares were acquired at an average cost of $2.75 per share, for a total transaction of $43,175.00. Following the completion of the purchase, the director owned 353,732 shares of the company's stock, valued at approximately $972,763. This trade represents a 4.64% increase in their position. The purchase was disclosed in a filing with the SEC, which is accessible through this hyperlink. Insiders bought 64,100 shares of company stock valued at $157,893 in the last 90 days. Insiders own 7.80% of the company's stock.

Institutional Trading of PodcastOne

A number of hedge funds and other institutional investors have recently added to or reduced their stakes in the business. International Assets Investment Management LLC grew its stake in shares of PodcastOne by 43.3% in the third quarter. International Assets Investment Management LLC now owns 13,898 shares of the company's stock worth $32,000 after acquiring an additional 4,198 shares during the last quarter. Integrated Wealth Concepts LLC acquired a new position in PodcastOne during the 2nd quarter valued at $32,000. Permanens Capital L.P. acquired a new position in PodcastOne during the 2nd quarter valued at $45,000. Dimensional Fund Advisors LP acquired a new position in PodcastOne during the 1st quarter valued at $30,000. Finally, NewEdge Advisors LLC boosted its holdings 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 purchasing an additional 55,473 shares during the period. Institutional investors and hedge funds own 2.87% of the company's stock.

PodcastOne Company Profile

PodcastOne, Inc. operates a podcast network that produces, distributes and monetizes audio programming. Its services include podcast production and distribution, advertising sales and sponsorships, helping creators reach audiences and advertisers connect with podcast listeners. The company's catalog spans topics such as entertainment, sports, news and lifestyle. Its programs are distributed through its website and major podcast-listening platforms, with its business primarily focused on the U.S. market.

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