PodcastOne, Inc. (NASDAQ:PODC) Stock Short Interest Report for October

Key Points

• PodcastOne’s short interest nearly doubled in October, rising 98.7% to 234,046 shares, or about 0.8% of shares outstanding. The stock’s short-interest ratio was 3.7 days based on average daily trading volume.
• Analyst sentiment remained negative, with ratings consisting of one Hold and one Sell, producing an overall MarketBeat rating of “Reduce.”
• PodcastOne reported a quarterly loss of $0.05 per share and revenue of $16.12 million, below the $17.76 million consensus estimate. Despite weak fundamentals, insiders bought 81,100 shares over the prior three months, while institutional ownership stood at just 2.87%.

PodcastOne, Inc. (NASDAQ:PODC - Get Free Report) was the recipient of a significant growth in short interest in the month of October. As of October 15th, there was short interest totaling 234,046 shares, a growth of 98.7% from the September 30th total of 117,794 shares. Approximately 0.8% of the shares of the stock are sold short. Based on an average daily volume of 63,542 shares, the short-interest ratio is presently 3.7 days.

Analyst Ratings Changes

A number of research analysts recently issued reports on the company. Wall Street Zen lowered PodcastOne from a "hold" rating to a "sell" rating in a report on Saturday, August 22nd. Zacks Research upgraded shares of PodcastOne from a "strong sell" rating to a "hold" rating in a research report on Monday, October 19th. Finally, Weiss Ratings reissued a "sell (d-)" rating on shares of PodcastOne in a report on Monday, September 21st. One investment analyst has rated the stock with a Hold rating and one has given a Sell rating to the company. Based on data from MarketBeat, PodcastOne currently has an average rating of "Reduce".

Insider Transactions at PodcastOne

In other news, Director D Merriman purchased 17,000 shares of the stock in a transaction dated Friday, August 14th. The shares were bought at an average cost of $3.20 per share, for a total transaction of $54,400.00. Following the transaction, the director owned 326,732 shares in the company, valued at $1,045,542.40. This trade represents a 5.49% increase in their ownership of the stock. The transaction was disclosed in a document filed with the SEC, which is available through this hyperlink. Over the last three months, insiders acquired 81,100 shares of company stock worth $212,293. Company insiders own 7.80% of the company's stock.

Institutional Investors Weigh In On PodcastOne

Several hedge funds have recently modified their holdings of PODC. Dimensional Fund Advisors LP purchased a new position in PodcastOne in the 1st quarter worth about $30,000. International Assets Investment Management LLC raised its holdings in PodcastOne by 43.3% during the 3rd quarter. International Assets Investment Management LLC now owns 13,898 shares of the company's stock worth $32,000 after buying an additional 4,198 shares during the period. Integrated Wealth Concepts LLC purchased a new stake in PodcastOne during the second quarter valued at about $32,000. Permanens Capital L.P. purchased a new stake in PodcastOne during the second quarter valued at about $45,000. Finally, NewEdge Advisors LLC lifted its stake in PodcastOne by 168.2% during 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 in the last quarter. 2.87% of the stock is owned by hedge funds and other institutional investors.

PodcastOne Stock Performance

PodcastOne stock opened at $2.39 on Friday. The firm has a market cap of $72.30 million, a price-to-earnings ratio of -19.92 and a beta of 2.18. PodcastOne has a 1 year low of $1.41 and a 1 year high of $5.20. The firm's 50 day moving average price is $2.28 and its two-hundred day moving average price is $2.98.

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

About PodcastOne

PodcastOne, Inc operates a podcast network and digital audio platform that produces, distributes, hosts and monetizes podcasts. Its services include podcast advertising, sponsorship sales, audience development, content production and technology support for podcast creators and publishers.

The company's programming spans news, comedy, entertainment, sports, business, lifestyle and true crime. PodcastOne distributes its shows through its own platform and major third-party audio services, while also providing advertisers with opportunities to reach podcast audiences through host-read advertisements, sponsorships and other integrated campaigns.

PodcastOne was founded in 2012 by radio executive Norm Pattiz and became part of LiveOne, Inc before becoming a separately traded public company on the Nasdaq.

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