PodcastOne (NASDAQ:PODC) Director Purchases $54,400.00 in Stock

PodcastOne, Inc. (NASDAQ:PODC) Director D Jonathan Merriman purchased 17,000 shares of the business’s stock in a transaction on Friday, August 14th. The shares were purchased at an average price of $3.20 per share, with a total value of $54,400.00. Following the acquisition, the director directly owned 326,732 shares in the company, valued at $1,045,542.40. This represents a 5.49% increase in their ownership of the stock. The acquisition was disclosed in a filing with the Securities & Exchange Commission, which can be accessed through this hyperlink.

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

• On Monday, August 17th, D Jonathan Merriman acquired 11,300 shares of PodcastOne stock. The stock was purchased at an average cost of $2.80 per share, for a total transaction of $31,640.00.
• On Friday, May 22nd, D Jonathan Merriman acquired 7,000 shares of PodcastOne stock. The shares were purchased at an average cost of $4.38 per share, for a total transaction of $30,660.00.

PodcastOne Price Performance

Shares of PODC opened at $2.69 on Thursday. The stock has a market capitalization of $81.37 million, a price-to-earnings ratio of -22.42 and a beta of 2.15. PodcastOne, Inc. has a 1 year low of $1.30 and a 1 year high of $5.20. The business’s 50 day simple moving average is $3.82 and its 200-day simple moving average is $3.29.

PodcastOne (NASDAQ:PODC) last posted its earnings results on Wednesday, August 12th. The company reported ($0.05) earnings per share for the quarter. PodcastOne had a negative net margin of 5.01% and a negative return on equity of 17.56%. The business had revenue of $16.12 million during the quarter, compared to analysts’ expectations of $17.76 million. On average, sell-side analysts expect that PodcastOne, Inc. will post -0.09 earnings per share for the current year.

Hedge Funds Weigh In On PodcastOne

A number of large investors have recently made changes to their positions in PODC. NewEdge Advisors LLC raised its position in PodcastOne by 168.2% in the 1st quarter. NewEdge Advisors LLC now owns 88,455 shares of the company’s stock worth $180,000 after purchasing an additional 55,473 shares during the period. BlackRock Inc. purchased a new position in shares of PodcastOne during the second quarter valued at approximately $280,000. Citadel Advisors LLC boosted its position in shares of 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 period. Creative Planning bought a new position in shares of PodcastOne during the second quarter valued at approximately $49,000. Finally, Dimensional Fund Advisors LP bought a new position in shares of PodcastOne during the first quarter valued at approximately $30,000. 2.87% of the stock is owned by hedge funds and other institutional investors.

Analyst Upgrades and Downgrades

A number of analysts have recently weighed in on PODC shares. Weiss Ratings restated a “sell (d-)” rating on shares of PodcastOne in a report on Wednesday, June 24th. Wall Street Zen downgraded shares of PodcastOne from a “buy” rating to a “hold” rating in a report on Saturday, June 27th. One research analyst has rated the stock with a Hold rating and one has issued a Sell rating to the company’s stock. According to MarketBeat.com, the company has an average 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.