D Jonathan Merriman Purchases 11,300 Shares of PodcastOne (NASDAQ:PODC) Stock

PodcastOne, Inc. (NASDAQ:PODC) Director D Jonathan Merriman bought 11,300 shares of the business’s stock in a transaction dated Monday, August 17th. The shares were bought at an average cost of $2.80 per share, for a total transaction of $31,640.00. Following the transaction, the director owned 338,032 shares in the company, valued at approximately $946,489.60. The trade was a 3.46% increase in their position. The acquisition was disclosed in a document filed with the Securities & Exchange Commission, which is available at the SEC website.

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

• On Friday, August 14th, D Jonathan Merriman purchased 17,000 shares of PodcastOne stock. The stock was bought at an average price of $3.20 per share, with a total value of $54,400.00.
• 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, with a total value of $30,660.00.

PodcastOne Stock Down 3.2%

PODC stock opened at $2.74 on Wednesday. PodcastOne, Inc. has a twelve month low of $1.30 and a twelve month high of $5.20. The stock has a market capitalization of $82.75 million, a price-to-earnings ratio of -22.83 and a beta of 2.15. The firm’s fifty day simple moving average is $3.85 and its two-hundred day simple moving average is $3.29.

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

Wall Street Analyst Weigh In

PODC has been the subject of several analyst reports. Wall Street Zen downgraded shares of PodcastOne from a “buy” rating to a “hold” rating in a research note on Saturday, June 27th. Weiss Ratings reaffirmed a “sell (d-)” rating on shares of PodcastOne in a research note on Wednesday, June 24th. One analyst has rated the stock with a Hold rating and one has issued a Sell rating to the stock. According to data from MarketBeat, the stock presently has an average rating of “Reduce”.

Institutional Inflows and Outflows

A number of hedge funds have recently made changes to their positions in the stock. Dimensional Fund Advisors LP bought a new stake in PodcastOne during the 1st quarter valued at about $30,000. Permanens Capital L.P. purchased a new stake in PodcastOne in the 2nd quarter valued at about $45,000. Creative Planning bought a new position in PodcastOne in the 2nd quarter worth about $49,000. Citadel Advisors LLC grew its stake in 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 acquiring an additional 30,541 shares in the last quarter. Finally, NewEdge Advisors LLC purchased a new position in shares of PodcastOne during the fourth quarter worth approximately $81,000. 2.87% of the stock is currently owned by institutional investors.

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.