PodcastOne (NASDAQ:PODC) Trading Down 2% - Should You Sell?

Key Points

• PodcastOne shares fell 2% on Monday, trading around $4.00 after hitting a low of $3.97 on lighter-than-normal volume.
• Analyst sentiment remains weak: Wall Street Zen downgraded the stock to hold, Weiss Ratings reiterated a sell, and the current consensus rating is Reduce.
• The company recently beat quarterly earnings and revenue estimates, reporting EPS of -$0.02 versus -$0.03 expected and revenue of $15.67 million versus $15.15 million expected, though profitability remains negative.

Shares of PodcastOne, Inc. (NASDAQ:PODC - Get Free Report) fell 2% during trading on Monday . The company traded as low as $3.97 and last traded at $4.00. Approximately 54,207 shares were traded during mid-day trading, a decline of 40% from the average session volume of 89,929 shares. The stock had previously closed at $4.08.

Analyst Ratings Changes

Several equities analysts recently weighed in on the stock. Wall Street Zen lowered shares of PodcastOne from a "buy" rating to a "hold" rating in a report on Saturday, June 27th. Weiss Ratings reiterated a "sell (d-)" rating on shares of PodcastOne in a report on Wednesday, June 24th. One investment analyst has rated the stock with a Hold rating and one has issued a Sell rating to the company. According to data from MarketBeat, the stock currently has a consensus rating of "Reduce".

PodcastOne Stock Performance

The firm has a fifty day moving average of $4.21 and a 200 day moving average of $3.16. The firm has a market capitalization of $120.28 million, a PE ratio of -36.36 and a beta of 2.04.

PodcastOne (NASDAQ:PODC - Get Free Report) last released its quarterly earnings results on Wednesday, June 24th. 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 return on equity of 16.98% and a negative net margin of 4.29%.The firm had revenue of $15.67 million during the quarter, compared to analysts' expectations of $15.15 million. Research analysts forecast that PodcastOne, Inc. will post 0.02 earnings per share for the current fiscal year.

Insider Activity at PodcastOne

In other news, Director D Jonathan Merriman bought 7,000 shares of PodcastOne stock in a transaction dated Friday, May 22nd. The shares were acquired at an average cost of $4.38 per share, with a total value of $30,660.00. Following the completion of the transaction, the director owned 309,732 shares in the company, valued at approximately $1,356,626.16. This trade represents a 2.31% increase in their position. The purchase was disclosed in a document filed with the Securities & Exchange Commission, which can be accessed through this hyperlink. Insiders own 79.40% of the company's stock.

Institutional Investors Weigh In On PodcastOne

A number of large investors have recently added to or reduced their stakes in the company. Dimensional Fund Advisors LP purchased a new stake in shares of PodcastOne during the first quarter worth about $30,000. Creative Planning acquired a new position in shares of PodcastOne in the second quarter worth about $49,000. Citadel Advisors LLC boosted its holdings in PodcastOne by 267.5% in the third quarter. Citadel Advisors LLC now owns 41,958 shares of the company's stock valued at $70,000 after purchasing an additional 30,541 shares during the last quarter. Finally, NewEdge Advisors LLC purchased a new position in PodcastOne in the fourth quarter valued at about $81,000. 2.87% of the stock is owned by institutional investors and hedge funds.

About PodcastOne

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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