Insider Buying: PodcastOne (NASDAQ:PODC) Director Acquires $31,640.00 in Stock

PodcastOne, Inc. (NASDAQ:PODC) Director D Jonathan Merriman bought 11,300 shares of the company’s stock in a transaction that occurred on Monday, August 17th. The stock was bought at an average price of $2.80 per share, with a total value of $31,640.00. Following the acquisition, the director directly owned 338,032 shares in the company, valued at $946,489.60. The trade was a 3.46% increase in their position. The acquisition was disclosed in a filing with the SEC, which is available at this hyperlink.

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

• On Friday, August 14th, D Jonathan Merriman purchased 17,000 shares of PodcastOne stock. The shares were purchased at an average price of $3.20 per share, for a total transaction of $54,400.00.
• On Friday, May 22nd, D Jonathan Merriman purchased 7,000 shares of PodcastOne stock. The shares were purchased at an average price of $4.38 per share, with a total value of $30,660.00.

PodcastOne Trading Down 1.8%

Shares of NASDAQ PODC opened at $2.69 on Thursday. PodcastOne, Inc. has a twelve month low of $1.30 and a twelve month high of $5.20. The stock has a fifty day simple moving average of $3.82 and a 200-day simple moving average of $3.29. The stock has a market capitalization of $81.37 million, a PE ratio of -22.42 and a beta of 2.15.

PodcastOne (NASDAQ:PODC) last posted its quarterly earnings data 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 firm had revenue of $16.12 million during the quarter, compared to analysts’ expectations of $17.76 million. On average, equities analysts predict that PodcastOne, Inc. will post -0.09 earnings per share for the current year.

Institutional Investors Weigh In On PodcastOne

A number of hedge funds have recently bought and sold shares of the stock. Permanens Capital L.P. purchased a new stake in shares of PodcastOne during the second quarter worth approximately $45,000. BlackRock Inc. acquired a new stake in PodcastOne in the second quarter valued at approximately $280,000. NewEdge Advisors LLC lifted its stake in PodcastOne by 168.2% in the first quarter. NewEdge Advisors LLC now owns 88,455 shares of the company’s stock worth $180,000 after acquiring an additional 55,473 shares during the last quarter. Dimensional Fund Advisors LP purchased a new position in PodcastOne in the first quarter worth approximately $30,000. Finally, Citadel Advisors LLC grew its holdings in PodcastOne by 267.5% during the 3rd quarter. Citadel Advisors LLC now owns 41,958 shares of the company’s stock worth $70,000 after acquiring an additional 30,541 shares in the last quarter. Institutional investors and hedge funds own 2.87% of the company’s stock.

Analyst Upgrades and Downgrades

Several brokerages have recently issued reports on PODC. Wall Street Zen cut shares of PodcastOne from a “buy” rating to a “hold” rating in a research report on Saturday, June 27th. Weiss Ratings reaffirmed a “sell (d-)” rating on shares of PodcastOne in a research note on Wednesday, June 24th. One equities research analyst has rated the stock with a Hold rating and one has assigned a Sell rating to the stock. Based on data from MarketBeat.com, the company has an average rating of “Reduce”.

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.