PodcastOne (NASDAQ:PODC) Director D Jonathan Merriman Purchases 11,300 Shares

PodcastOne, Inc. (NASDAQ:PODC) Director D Jonathan Merriman purchased 11,300 shares of PodcastOne stock in a transaction dated Monday, August 17th. The shares were purchased at an average price of $2.80 per share, with a total value of $31,640.00. Following the completion of the acquisition, the director owned 338,032 shares in the company, valued at $946,489.60. The trade was a 3.46% increase in their ownership of the stock. The transaction was disclosed in a filing with the Securities & Exchange Commission, which is accessible through this link.

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

PodcastOne Stock Performance

Shares of PODC opened at $2.83 on Tuesday. The firm has a market cap of $85.46 million, a PE ratio of -23.58 and a beta of 2.15. The firm’s 50 day moving average price is $3.88 and its 200 day moving average price is $3.28. PodcastOne, Inc. has a twelve month low of $1.30 and a twelve month high of $5.20.

PodcastOne (NASDAQ:PODC) last posted its earnings results on Wednesday, August 12th. The company reported ($0.05) EPS for the quarter. PodcastOne had a negative return on equity of 19.85% and a negative net margin of 5.01%.The business had revenue of $16.12 million during the quarter, compared to the consensus estimate of $17.76 million. On average, sell-side analysts anticipate that PodcastOne, Inc. will post -0.09 earnings per share for the current fiscal year.

Hedge Funds Weigh In On PodcastOne

A number of institutional investors have recently modified their holdings of the company. Creative Planning acquired a new stake in shares of PodcastOne in the second quarter worth $49,000. Citadel Advisors LLC grew its stake in PodcastOne by 267.5% in the 3rd 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. NewEdge Advisors LLC bought a new position in PodcastOne in the 4th quarter worth $81,000. Dimensional Fund Advisors LP bought a new position in PodcastOne in the 1st quarter worth $30,000. Finally, BlackRock Inc. acquired a new position in PodcastOne during the 2nd quarter worth $280,000. Institutional investors own 2.87% of the company’s stock.

Wall Street Analyst Weigh In

Several equities analysts have commented on the stock. Weiss Ratings reissued a “sell (d-)” rating on shares of PodcastOne in a research report on Wednesday, June 24th. Wall Street Zen cut PodcastOne from a “buy” rating to a “hold” rating in a research report on Saturday, June 27th. One research analyst has rated the stock with a Hold rating and one has given a Sell rating to the company’s stock. According to data from MarketBeat.com, the stock has an average rating of “Reduce”.

PodcastOne Company Profile

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.