PodcastOne (NASDAQ:PODC) Director D Jonathan Merriman Acquires 17,000 Shares

PodcastOne, Inc. (NASDAQ:PODC) Director D Jonathan Merriman bought 17,000 shares of the firm’s stock in a transaction that occurred on Friday, August 14th. The stock was purchased at an average cost of $3.20 per share, with a total value of $54,400.00. Following the completion of the purchase, the director directly owned 326,732 shares of the company’s stock, valued at $1,045,542.40. This represents a 5.49% increase in their position. The acquisition was disclosed in a document filed 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 purchased 11,300 shares of PodcastOne stock. The shares were 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 purchased 7,000 shares of PodcastOne stock. The stock was purchased at an average price of $4.38 per share, with a total value of $30,660.00.

PodcastOne Price Performance

Shares of PODC stock opened at $2.83 on Tuesday. The company has a fifty day moving average price of $3.88 and a two-hundred day moving average price of $3.28. PodcastOne, Inc. has a one year low of $1.30 and a one year high of $5.20. The stock has a market cap of $85.46 million, a P/E ratio of -23.58 and a beta of 2.15.

PodcastOne (NASDAQ:PODC) last released its quarterly earnings data on Wednesday, August 12th. The company reported ($0.05) earnings per share for the quarter. The firm had revenue of $16.12 million for the quarter, compared to analyst estimates of $17.76 million. PodcastOne had a negative return on equity of 19.85% and a negative net margin of 5.01%. As a group, equities research analysts anticipate that PodcastOne, Inc. will post -0.09 EPS for the current fiscal year.

Analyst Ratings Changes

Several analysts have issued reports on PODC shares. Weiss Ratings restated a “sell (d-)” rating on shares of PodcastOne in a research note on Wednesday, June 24th. Wall Street Zen downgraded PodcastOne from a “buy” rating to a “hold” rating in a research note 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. Based on data from MarketBeat, PodcastOne presently has an average rating of “Reduce”.

Institutional Investors Weigh In On PodcastOne

Several hedge funds have recently bought and sold shares of the stock. NewEdge Advisors LLC acquired a new position in shares of PodcastOne in the fourth quarter valued at approximately $81,000. Citadel Advisors LLC increased its stake in shares of PodcastOne by 267.5% during the third quarter. Citadel Advisors LLC now owns 41,958 shares of the company’s stock worth $70,000 after purchasing an additional 30,541 shares during the period. Creative Planning acquired a new stake in PodcastOne during the 2nd quarter worth approximately $49,000. BlackRock Inc. acquired a new stake in PodcastOne during the 2nd quarter worth approximately $280,000. Finally, Permanens Capital L.P. bought a new stake in PodcastOne in the 2nd quarter valued at $45,000. 2.87% of the stock is currently owned by institutional investors and hedge funds.

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.