PodcastOne (NASDAQ:PODC) Director D Jonathan Merriman Acquires 6,100 Shares

PodcastOne, Inc. (NASDAQ:PODC) Director D Jonathan Merriman acquired 6,100 shares of the stock in a transaction dated Tuesday, December 16th. The shares were purchased at an average cost of $2.08 per share, with a total value of $12,688.00. Following the completion of the purchase, the director owned 283,252 shares of the company’s stock, valued at approximately $589,164.16. The trade was a 2.20% increase in their position. The purchase was disclosed in a legal filing with the SEC, which can be accessed through this hyperlink.

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

• On Friday, December 5th, D Jonathan Merriman bought 5,700 shares of PodcastOne stock. The shares were purchased at an average price of $2.16 per share, with a total value of $12,312.00.
• On Wednesday, November 26th, D Jonathan Merriman bought 7,373 shares of PodcastOne stock. The stock was acquired at an average cost of $2.47 per share, for a total transaction of $18,211.31.
• On Wednesday, November 19th, D Jonathan Merriman purchased 11,000 shares of PodcastOne stock. The shares were acquired at an average price of $2.20 per share, for a total transaction of $24,200.00.
• On Friday, November 14th, D Jonathan Merriman purchased 10,700 shares of PodcastOne stock. The shares were acquired at an average cost of $2.16 per share, with a total value of $23,112.00.

PodcastOne Trading Up 5.6%

NASDAQ PODC traded up $0.12 on Thursday, hitting $2.25. The company’s stock had a trading volume of 20,401 shares, compared to its average volume of 51,756. The firm has a market cap of $60.55 million, a P/E ratio of -11.25 and a beta of -0.11. PodcastOne, Inc. has a 52-week low of $1.28 and a 52-week high of $2.94. The company’s 50-day simple moving average is $2.15 and its 200 day simple moving average is $1.96.

PodcastOne (NASDAQ:PODC) last posted its earnings results on Wednesday, November 12th. The company reported ($0.04) earnings per share (EPS) for the quarter, beating the consensus estimate of ($0.05) by $0.01. PodcastOne had a negative return on equity of 34.68% and a negative net margin of 9.07%.The firm had revenue of $15.16 million for the quarter, compared to analysts’ expectations of $14.26 million. On average, research analysts forecast that PodcastOne, Inc. will post -0.24 EPS for the current fiscal year.

Hedge Funds Weigh In On PodcastOne

Institutional investors and hedge funds have recently made changes to their positions in the business. Rockefeller Capital Management L.P. bought a new stake in shares of PodcastOne in the 2nd quarter worth approximately $316,000. Citadel Advisors LLC raised its stake in PodcastOne by 267.5% during the third 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. Creative Planning bought a new stake in PodcastOne in the second quarter worth $49,000. Thompson Davis & CO. Inc. bought a new stake in PodcastOne in the second quarter worth $38,000. Finally, Pingora Partners LLC grew its stake in shares of PodcastOne by 122.3% in the first quarter. Pingora Partners LLC now owns 16,724 shares of the company’s stock worth $27,000 after acquiring an additional 9,200 shares during the last quarter. Institutional investors own 2.87% of the company’s stock.

Wall Street Analysts Forecast Growth

Several equities research analysts have recently commented on the stock. Weiss Ratings reaffirmed a “sell (d-)” rating on shares of PodcastOne in a research report on Monday. Zacks Research raised shares of PodcastOne from a “strong sell” rating to a “hold” rating in a research note on Friday, November 14th. One analyst has rated the stock with a Hold rating and one has issued a Sell rating to the stock. According to MarketBeat, PodcastOne presently has a consensus rating of “Reduce”.

About PodcastOne

PodcastOne, Inc operates as a podcast platform and publisher. The company offers its content to audiences through podcasting distribution platforms, including its website, Apple Podcasts, Spotify, Amazon Music, and others. It also produces vodcasts, branded podcasts, merchandise, and live events. In addition, the company builds, owns, and operates LaunchPadOne, a self-publishing podcast platform.