PodcastOne (NASDAQ:PODC) Director Purchases $24,200.00 in Stock

PodcastOne, Inc. (NASDAQ:PODC) Director D Jonathan Merriman purchased 11,000 shares of the business’s stock in a transaction that occurred on Wednesday, November 19th. The shares were purchased at an average cost of $2.20 per share, with a total value of $24,200.00. Following the completion of the acquisition, the director directly owned 264,079 shares of the company’s stock, valued at $580,973.80. This represents a 4.35% increase in their ownership of the stock. The transaction was disclosed in a filing with the SEC, which can be accessed through this link.

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

• On Friday, November 14th, D Jonathan Merriman acquired 10,700 shares of PodcastOne stock. The stock was acquired at an average cost of $2.16 per share, for a total transaction of $23,112.00.
• On Thursday, September 4th, D Jonathan Merriman bought 10,000 shares of PodcastOne stock. The shares were acquired at an average cost of $1.58 per share, with a total value of $15,800.00.

PodcastOne Trading Up 9.8%

Shares of PODC traded up $0.21 during mid-day trading on Friday, hitting $2.36. The company’s stock had a trading volume of 68,657 shares, compared to its average volume of 51,080. PodcastOne, Inc. has a 1-year low of $1.28 and a 1-year high of $2.94. The firm has a market capitalization of $63.51 million, a P/E ratio of -11.80 and a beta of -0.06. The firm has a 50-day simple moving average of $1.94 and a 200 day simple moving average of $1.92.

PodcastOne (NASDAQ:PODC) last announced its quarterly earnings data on Wednesday, November 12th. The company reported ($0.04) earnings per share for the quarter, topping analysts’ consensus estimates 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 analyst estimates of $14.26 million. As a group, sell-side analysts predict that PodcastOne, Inc. will post -0.24 EPS for the current fiscal year.

Wall Street Analyst Weigh In

A number of equities analysts have recently issued reports on the stock. Zacks Research upgraded shares of PodcastOne from a “strong sell” rating to a “hold” rating in a report on Friday, November 14th. Weiss Ratings reaffirmed a “sell (e+)” rating on shares of PodcastOne in a report on Friday, October 31st. One research analyst has rated the stock with a Hold rating and one has issued a Sell rating to the stock. Based on data from MarketBeat.com, the company has an average rating of “Reduce”.

Hedge Funds Weigh In On PodcastOne

Hedge funds and other institutional investors have recently added to or reduced their stakes in the business. Citadel Advisors LLC lifted its holdings in shares of PodcastOne by 267.5% in the third quarter. Citadel Advisors LLC now owns 41,958 shares of the company’s stock valued at $70,000 after purchasing an additional 30,541 shares in the last quarter. Thompson Davis & CO. Inc. acquired a new position in shares of PodcastOne during the 2nd quarter worth approximately $38,000. Rockefeller Capital Management L.P. purchased a new stake in PodcastOne in the 2nd quarter valued at approximately $316,000. Creative Planning acquired a new stake in PodcastOne during the 2nd quarter valued at $49,000. Finally, Pingora Partners LLC grew its holdings in PodcastOne by 122.3% during the 1st quarter. Pingora Partners LLC now owns 16,724 shares of the company’s stock valued at $27,000 after buying an additional 9,200 shares during the last quarter. Institutional investors and hedge funds own 2.87% of the company’s stock.

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.