D Jonathan Merriman Buys 15,700 Shares of PodcastOne (NASDAQ:PODC) Stock

PodcastOne, Inc. (NASDAQ:PODC) Director D Jonathan Merriman purchased 15,700 shares of the firm’s stock in a transaction on Friday, August 21st. The shares were purchased at an average cost of $2.75 per share, for a total transaction of $43,175.00. Following the completion of the purchase, the director directly owned 353,732 shares in the company, valued at $972,763. The trade was a 4.64% increase in their ownership of the stock. The transaction was disclosed in a filing with the SEC, which is available at the SEC website.

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

• On Monday, August 17th, D Jonathan Merriman bought 11,300 shares of PodcastOne stock. The shares were purchased at an average price of $2.80 per share, for a total transaction of $31,640.00.
• On Friday, August 14th, D Jonathan Merriman bought 17,000 shares of PodcastOne stock. The stock was purchased at an average cost of $3.20 per share, with a total value of $54,400.00.

PodcastOne Stock Performance

PODC stock opened at $2.60 on Thursday. The company has a 50 day moving average price of $3.67 and a two-hundred day moving average price of $3.28. The stock has a market capitalization of $78.66 million, a P/E ratio of -21.67 and a beta of 2.15. PodcastOne, Inc. has a one year low of $1.41 and a one year high of $5.20.

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 return on equity of 17.56% and a negative net margin of 5.01%.The business had revenue of $16.12 million for the quarter, compared to analyst estimates of $17.76 million. Research analysts forecast that PodcastOne, Inc. will post -0.12 earnings per share for the current fiscal year.

Institutional Inflows and Outflows

A number of hedge funds and other institutional investors have recently modified their holdings of PODC. BlackRock Inc. acquired a new stake in shares of PodcastOne in the second quarter valued at approximately $280,000. NewEdge Advisors LLC boosted its position in shares of PodcastOne by 168.2% during the first quarter. NewEdge Advisors LLC now owns 88,455 shares of the company’s stock worth $180,000 after buying an additional 55,473 shares during the period. Citadel Advisors LLC grew its holdings in 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 in the last quarter. Creative Planning bought a new position in PodcastOne in the 2nd quarter worth approximately $49,000. Finally, Dimensional Fund Advisors LP acquired a new stake in PodcastOne in the 1st quarter valued at approximately $30,000. Institutional investors and hedge funds own 2.87% of the company’s stock.

Wall Street Analyst Weigh In

PODC has been the subject of several research analyst reports. Wall Street Zen lowered shares of PodcastOne from a “hold” rating to a “sell” rating in a research report on Saturday, August 22nd. Zacks Research lowered PodcastOne from a “hold” rating to a “strong sell” rating in a research report on Wednesday, August 19th. Finally, Weiss Ratings reiterated a “sell (d-)” rating on shares of PodcastOne in a report on Wednesday, June 24th. Two investment analysts have rated the stock with a Sell rating, According to MarketBeat.com, PodcastOne has an average rating of “Sell”.

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.