Insider Buying: PodcastOne (NASDAQ:PODC) Director Acquires $30,660.00 in Stock

PodcastOne, Inc. (NASDAQ:PODC) Director D Jonathan Merriman acquired 7,000 shares of PodcastOne stock in a transaction on Friday, May 22nd. The shares were bought at an average price of $4.38 per share, with a total value of $30,660.00. Following the completion of the transaction, the director directly owned 309,732 shares of the company’s stock, valued at $1,356,626.16. This trade represents a 2.31% increase in their position. The acquisition was disclosed in a legal filing with the SEC, which is available at this hyperlink.

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

• On Friday, April 17th, D Jonathan Merriman acquired 10,200 shares of PodcastOne stock. The shares were bought at an average price of $2.11 per share, with a total value of $21,522.00.
• On Monday, March 23rd, D Jonathan Merriman acquired 2,980 shares of PodcastOne stock. The shares were bought at an average price of $2.35 per share, with a total value of $7,003.00.
• On Thursday, March 12th, D Jonathan Merriman acquired 6,300 shares of PodcastOne stock. The shares were bought at an average price of $2.22 per share, with a total value of $13,986.00.

PodcastOne Stock Performance

NASDAQ:PODC opened at $4.94 on Friday. The company has a fifty day moving average of $3.05 and a two-hundred day moving average of $2.66. The stock has a market capitalization of $135.79 million, a PE ratio of -32.93 and a beta of 1.72. PodcastOne, Inc. has a fifty-two week low of $1.30 and a fifty-two week high of $5.20.

Institutional Investors Weigh In On PodcastOne

A number of large investors have recently modified their holdings of PODC. Creative Planning purchased a new stake in shares of PodcastOne during the second quarter worth $49,000. Citadel Advisors LLC grew its holdings in shares of PodcastOne by 267.5% during the third 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. NewEdge Advisors LLC purchased a new stake in shares of PodcastOne during the fourth quarter worth $81,000. Finally, Dimensional Fund Advisors LP purchased a new stake in shares of PodcastOne in the first quarter valued at about $30,000. Hedge funds and other institutional investors own 2.87% of the company’s stock.

Analyst Ratings Changes

Separately, Weiss Ratings restated a “sell (d-)” rating on shares of PodcastOne in a research report on Friday, March 27th. One analyst has rated the stock with a Hold rating and one has issued a Sell rating to the company’s stock. Based on data from MarketBeat.com, the company currently has a consensus 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.