PodcastOne (NASDAQ:PODC) Director Buys $15,812.00 in Stock

PodcastOne, Inc. (NASDAQ:PODC) Director D Merriman purchased 6,700 shares of the business’s stock in a transaction dated Friday, September 18th. The shares were purchased at an average cost of $2.36 per share, for a total transaction of $15,812.00. Following the completion of the purchase, the director directly owned 368,132 shares of the company’s stock, valued at approximately $868,791.52. This represents a 1.85% increase in their position. The purchase was disclosed in a document filed with the Securities & Exchange Commission, which can be accessed through this link.

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

• On Wednesday, September 16th, D Merriman acquired 7,700 shares of PodcastOne stock. The stock was acquired at an average price of $2.30 per share, with a total value of $17,710.00.
• On Friday, August 21st, D Merriman bought 15,700 shares of PodcastOne stock. The shares were acquired at an average price of $2.75 per share, for a total transaction of $43,175.00.
• On Monday, August 17th, D Merriman purchased 11,300 shares of PodcastOne stock. The stock was acquired at an average price of $2.80 per share, with a total value of $31,640.00.
• On Friday, August 14th, D Merriman purchased 17,000 shares of PodcastOne stock. The shares were acquired at an average price of $3.20 per share, for a total transaction of $54,400.00.

PodcastOne Stock Up 6.8%

Shares of PodcastOne stock opened at $2.21 on Thursday. The stock has a market cap of $66.85 million, a price-to-earnings ratio of -18.42 and a beta of 2.10. PodcastOne, Inc. has a twelve month low of $1.50 and a twelve month high of $5.20. The company’s fifty day moving average is $3.01 and its 200 day moving average is $3.26.

PodcastOne (NASDAQ:PODC) last announced its earnings results on Wednesday, August 12th. The company reported ($0.05) EPS for the quarter. The company had revenue of $16.12 million for the quarter, compared to analyst estimates of $17.76 million. PodcastOne had a negative return on equity of 17.56% and a negative net margin of 5.01%. As a group, equities analysts anticipate that PodcastOne, Inc. will post -0.12 earnings per share for the current fiscal year.

Analyst Ratings Changes

Several equities research analysts have recently weighed in on PODC shares. Zacks Research cut shares of PodcastOne from a “hold” rating to a “strong sell” rating in a research report on Wednesday, August 19th. Weiss Ratings reaffirmed a “sell (d-)” rating on shares of PodcastOne in a research report on Monday. Finally, Wall Street Zen downgraded PodcastOne from a “hold” rating to a “sell” rating in a report on Saturday, August 22nd. Two equities research analysts have rated the stock with a Sell rating, Based on data from MarketBeat.com, the stock has a consensus rating of “Sell”.

Institutional Trading of PodcastOne

Several hedge funds have recently modified their holdings of the stock. Integrated Wealth Concepts LLC bought a new position in PodcastOne during the second quarter worth $32,000. Permanens Capital L.P. bought a new stake in PodcastOne in the second quarter valued at $45,000. BlackRock Inc. bought a new stake in PodcastOne in the second quarter valued at $280,000. NewEdge Advisors LLC raised its holdings in shares of PodcastOne by 168.2% during the first quarter. NewEdge Advisors LLC now owns 88,455 shares of the company’s stock valued at $180,000 after purchasing an additional 55,473 shares during the period. Finally, Dimensional Fund Advisors LP acquired a new position in shares of PodcastOne during the first quarter valued at about $30,000. Institutional investors own 2.87% of the company’s stock.

PodcastOne Company Profile

PodcastOne is a digital media and podcasting company that operates a podcast network and provides services for podcast creators, advertisers and audiences. Its business includes podcast production, distribution, hosting, audience development and advertising sales, with programming spanning news, entertainment, sports, comedy, business and lifestyle topics.

The company also offers podcast-related technology and analytics designed to help creators manage and grow their shows, while giving advertisers opportunities to reach targeted audiences through audio and other digital media.