Insider Buying: PodcastOne (NASDAQ:PODC) Director Buys 5,700 Shares of Stock

PodcastOne, Inc. (NASDAQ:PODC) Director D Jonathan Merriman bought 5,700 shares of the stock in a transaction on Friday, December 5th. The stock was purchased at an average cost of $2.16 per share, for a total transaction of $12,312.00. Following the acquisition, the director directly owned 277,152 shares of the company’s stock, valued at $598,648.32. The trade was a 2.10% increase in their position. The acquisition was disclosed in a document filed with the SEC, which is available through this hyperlink.

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

• On Wednesday, November 26th, D Jonathan Merriman acquired 7,373 shares of PodcastOne stock. The shares were bought at an average cost of $2.47 per share, with a total value of $18,211.31.
• On Wednesday, November 19th, D Jonathan Merriman purchased 11,000 shares of PodcastOne stock. The stock was bought at an average price of $2.20 per share, with a total value of $24,200.00.
• On Friday, November 14th, D Jonathan Merriman bought 10,700 shares of PodcastOne stock. The shares were acquired at an average cost of $2.16 per share, for a total transaction of $23,112.00.

PodcastOne Trading Up 3.7%

NASDAQ PODC traded up $0.08 on Monday, hitting $2.24. 14,540 shares of the stock traded hands, compared to its average volume of 52,772. The stock has a 50-day moving average of $2.06 and a 200 day moving average of $1.94. PodcastOne, Inc. has a twelve month low of $1.28 and a twelve month high of $2.94. The company has a market capitalization of $60.28 million, a P/E ratio of -11.20 and a beta of -0.11.

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

Institutional Inflows and Outflows

Large investors have recently bought and sold shares of the stock. XTX Topco Ltd purchased a new stake in shares of PodcastOne during the 1st quarter worth approximately $26,000. Pingora Partners LLC grew its holdings in PodcastOne by 122.3% during the 1st quarter. Pingora Partners LLC now owns 16,724 shares of the company’s stock valued at $27,000 after buying an additional 9,200 shares in the last quarter. Thompson Davis & CO. Inc. bought a new stake in PodcastOne during the 2nd quarter worth approximately $38,000. Creative Planning purchased a new position in shares of PodcastOne during the second quarter worth about $49,000. Finally, Citadel Advisors LLC increased its holdings in shares of PodcastOne by 267.5% in the 3rd quarter. Citadel Advisors LLC now owns 41,958 shares of the company’s stock worth $70,000 after buying an additional 30,541 shares during the last quarter. 2.87% of the stock is owned by institutional investors.

Analysts Set New Price Targets

PODC has been the topic of a number of research analyst reports. Weiss Ratings reissued a “sell (d-)” rating on shares of PodcastOne in a report on Tuesday, December 2nd. Zacks Research upgraded shares of PodcastOne from a “strong sell” rating to a “hold” rating in a research report on Friday, November 14th. One equities research analyst has rated the stock with a Hold rating and one has given a Sell rating to the stock. According to data from MarketBeat, the company currently has a consensus 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.