D Jonathan Merriman Purchases 10,700 Shares of PodcastOne (NASDAQ:PODC) Stock

PodcastOne, Inc. (NASDAQ:PODC) Director D Jonathan Merriman acquired 10,700 shares of the company’s stock in a transaction on Friday, November 14th. The shares were acquired at an average price of $2.16 per share, for a total transaction of $23,112.00. Following the completion of the acquisition, the director directly owned 253,079 shares in the company, valued at $546,650.64. The trade was a 4.41% increase in their ownership of the stock. The transaction was disclosed in a document filed with the Securities & Exchange Commission, which is available at this link.

D Jonathan Merriman also recently made the following trade(s):

• On Thursday, September 4th, D Jonathan Merriman bought 10,000 shares of PodcastOne stock. The shares were acquired at an average price of $1.58 per share, with a total value of $15,800.00.
• On Friday, August 22nd, D Jonathan Merriman purchased 11,100 shares of PodcastOne stock. The shares were bought at an average cost of $1.49 per share, with a total value of $16,539.00.
• On Thursday, August 21st, D Jonathan Merriman purchased 5,700 shares of PodcastOne stock. The stock was bought at an average price of $1.49 per share, with a total value of $8,493.00.

PodcastOne Price Performance

NASDAQ PODC opened at $2.34 on Wednesday. The company has a market capitalization of $62.97 million, a price-to-earnings ratio of -11.70 and a beta of -0.06. PodcastOne, Inc. has a 12 month low of $1.28 and a 12 month high of $2.94. The company’s fifty day moving average price is $1.92 and its two-hundred day moving average price is $1.91.

PodcastOne (NASDAQ:PODC) last issued its earnings results on Wednesday, November 12th. The company reported ($0.04) earnings per share (EPS) for the quarter, beating analysts’ consensus estimates of ($0.05) by $0.01. PodcastOne had a negative net margin of 9.07% and a negative return on equity of 34.68%. The business had revenue of $15.16 million for the quarter, compared to analyst estimates of $14.26 million. As a group, analysts anticipate that PodcastOne, Inc. will post -0.24 EPS for the current year.

Institutional Trading of PodcastOne

A number of institutional investors and hedge funds have recently made changes to their positions in PODC. XTX Topco Ltd acquired a new position in PodcastOne during the 1st quarter valued at approximately $26,000. Pingora Partners LLC increased its position in PodcastOne by 122.3% in the first quarter. Pingora Partners LLC now owns 16,724 shares of the company’s stock worth $27,000 after buying an additional 9,200 shares during the period. Citadel Advisors LLC lifted its stake 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 buying an additional 30,541 shares during the last quarter. Thompson Davis & CO. Inc. acquired a new position in shares of PodcastOne during the second quarter valued at $38,000. Finally, Rockefeller Capital Management L.P. bought a new position in shares of PodcastOne during the second quarter worth about $316,000. 2.87% of the stock is currently owned by institutional investors and hedge funds.

Wall Street Analyst Weigh In

PODC has been the subject of several research reports. Weiss Ratings reiterated a “sell (e+)” rating on shares of PodcastOne in a research report on Friday, October 31st. Zacks Research raised shares of PodcastOne from a “strong sell” rating to a “hold” rating in a report on Friday, November 14th. One investment analyst has rated the stock with a Hold rating and one has assigned a Sell rating to the company. According to data from MarketBeat.com, PodcastOne presently has an average rating of “Reduce”.

PodcastOne Company Profile

PodcastOne, Inc operates as a podcast platform and publisher. The company offers its content to audiences through podcasting distribution platforms, including its website, Apple Podcasts, Spotify, Amazon Music, and others. It also produces vodcasts, branded podcasts, merchandise, and live events. In addition, the company builds, owns, and operates LaunchPadOne, a self-publishing podcast platform.