PodcastOne (NASDAQ:PODC) Cut to "Sell" at Wall Street Zen

Key Points

• PodcastOne was downgraded to “sell” from “hold” by Wall Street Zen, following Zacks Research’s “strong sell” downgrade and Weiss Ratings’ “sell (D-)” rating. MarketBeat reports a consensus “sell” rating.
• PodcastOne reported a quarterly loss of $0.05 per share and revenue of $16.12 million, below analysts’ $17.76 million estimate. The company posted a negative net margin of 5.01% and analysts expect a full-year loss of $0.12 per share.
• Shares opened at $2.70, with a market capitalization of about $81.7 million, while Director D. Jonathan Merriman bought 11,300 shares at an average price of $2.80. Insiders own 7.8% of the company, compared with 2.87% held by institutions and hedge funds.

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

Other equities analysts have also issued research reports about the stock. Zacks Research lowered shares of PodcastOne from a "hold" rating to a "strong sell" rating in a research note on Wednesday. Weiss Ratings reissued a "sell (d-)" rating on shares of PodcastOne in a research note on Wednesday, June 24th. Two equities research analysts have rated the stock with a Sell rating, According to MarketBeat, the stock has a consensus rating of "Sell".

PodcastOne Trading Up 7.1%

NASDAQ PODC opened at $2.70 on Friday. PodcastOne has a 1 year low of $1.30 and a 1 year high of $5.20. The company has a market cap of $81.67 million, a PE ratio of -22.50 and a beta of 2.15. The stock's 50-day moving average price is $3.76 and its two-hundred day moving average price is $3.28.

PodcastOne (NASDAQ:PODC - Get Free Report) last announced its earnings results on Wednesday, August 12th. The company reported ($0.05) EPS for the quarter. The firm had revenue of $16.12 million during the quarter, compared to analyst estimates of $17.76 million. PodcastOne had a negative return on equity of 17.56% and a negative net margin of 5.01%. Research analysts forecast that PodcastOne will post -0.12 EPS for the current fiscal year.

Insider Activity

In related news, Director D Jonathan Merriman purchased 11,300 shares of PodcastOne stock in a transaction dated Monday, August 17th. The stock was acquired at an average cost of $2.80 per share, with a total value of $31,640.00. Following the completion of the transaction, the director directly owned 338,032 shares of the company's stock, valued at $946,489.60. This trade represents a 3.46% increase in their ownership of the stock. The transaction was disclosed in a document filed with the Securities & Exchange Commission, which can be accessed through this hyperlink. 7.80% of the stock is owned by company insiders.

Institutional Inflows and Outflows

A number of institutional investors and hedge funds have recently added to or reduced their stakes in the stock. Permanens Capital L.P. purchased a new stake in PodcastOne in the 2nd quarter worth approximately $45,000. Dimensional Fund Advisors LP purchased a new position in shares of PodcastOne during the 1st quarter valued at $30,000. Creative Planning purchased a new position in shares of PodcastOne during the 2nd quarter valued at $49,000. Citadel Advisors LLC increased its stake in shares of 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 acquiring an additional 30,541 shares during the last quarter. Finally, NewEdge Advisors LLC acquired a new position in shares of PodcastOne in the fourth quarter worth $81,000. 2.87% of the stock is owned by hedge funds and other 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.

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