PodcastOne (NASDAQ:PODC) Director D Jonathan Merriman Buys 7,000 Shares

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

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

• On Friday, April 17th, D Jonathan Merriman bought 10,200 shares of PodcastOne stock. The stock was acquired at an average cost of $2.11 per share, with a total value of $21,522.00.
• On Monday, March 23rd, D Jonathan Merriman bought 2,980 shares of PodcastOne stock. The stock was acquired at an average cost 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 acquired at an average cost of $2.22 per share, with a total value of $13,986.00.

PodcastOne Trading Up 6.2%

NASDAQ:PODC opened at $4.76 on Wednesday. PodcastOne, Inc. has a 1 year low of $1.30 and a 1 year high of $5.07. The stock has a market cap of $130.84 million, a price-to-earnings ratio of -31.73 and a beta of 1.72. The stock has a 50-day moving average price of $2.91 and a two-hundred day moving average price of $2.61.

Institutional Inflows and Outflows

Several institutional investors and hedge funds have recently modified their holdings of the company. NewEdge Advisors LLC acquired a new position in PodcastOne during the fourth quarter valued at approximately $81,000. Citadel Advisors LLC boosted its position 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 purchasing an additional 30,541 shares during the last quarter. Creative Planning acquired a new position in PodcastOne during the second quarter valued at approximately $49,000. Finally, Dimensional Fund Advisors LP acquired a new position in PodcastOne during the first quarter valued at approximately $30,000. 2.87% of the stock is owned by institutional investors and hedge funds.

Analysts Set New Price Targets

Separately, Weiss Ratings reaffirmed 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 assigned a Sell rating to the stock. Based on data from MarketBeat.com, the company presently has a consensus rating of “Reduce”.

PodcastOne Company Profile

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.