PodcastOne (NASDAQ:PODC) Director D Jonathan Merriman Buys 10,200 Shares

PodcastOne, Inc. (NASDAQ:PODC) Director D Jonathan Merriman bought 10,200 shares of the firm’s stock in a transaction dated Friday, April 17th. The stock was purchased at an average price of $2.11 per share, with a total value of $21,522.00. Following the transaction, the director owned 302,732 shares in the company, valued at approximately $638,764.52. This represents a 3.49% increase in their position. The purchase was disclosed in a document filed with the Securities & Exchange Commission, which can be accessed through the SEC website.

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

• On Monday, March 23rd, D Jonathan Merriman bought 2,980 shares of PodcastOne stock. The stock was purchased at an average price of $2.35 per share, with a total value of $7,003.00.
• On Thursday, March 12th, D Jonathan Merriman bought 6,300 shares of PodcastOne stock. The stock was purchased at an average price of $2.22 per share, with a total value of $13,986.00.

PodcastOne Stock Performance

Shares of PODC remained flat at $2.70 during mid-day trading on Tuesday. The stock had a trading volume of 56,529 shares, compared to its average volume of 115,095. The stock has a market capitalization of $74.22 million, a P/E ratio of -18.00 and a beta of 0.48. The company’s fifty day moving average price is $2.39 and its two-hundred day moving average price is $2.32. PodcastOne, Inc. has a one year low of $1.30 and a one year high of $3.35.

PodcastOne (NASDAQ:PODC) last announced its quarterly earnings results on Thursday, February 12th. The company reported ($0.01) earnings per share (EPS) for the quarter, topping the consensus estimate of ($0.02) by $0.01. PodcastOne had a negative return on equity of 24.78% and a negative net margin of 6.22%.The business had revenue of $15.86 million for the quarter, compared to the consensus estimate of $15.03 million. On average, equities analysts anticipate that PodcastOne, Inc. will post -0.11 earnings per share for the current year.

Institutional Trading of PodcastOne

Hedge funds and other institutional investors have recently modified their holdings of the company. NewEdge Advisors LLC bought a new stake in shares of PodcastOne in the 4th quarter worth $81,000. Citadel Advisors LLC raised its stake in shares of PodcastOne by 267.5% in the 3rd 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. Finally, Creative Planning bought a new stake in shares of PodcastOne in the 2nd quarter worth $49,000. Institutional investors own 2.87% of the company’s stock.

Wall Street Analyst Weigh In

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. According to MarketBeat.com, PodcastOne 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.