PodcastOne (NASDAQ:PODC) Director Purchases $24,310.00 in Stock

PodcastOne, Inc. (NASDAQ:PODC) Director D Merriman bought 11,000 shares of the business’s stock in a transaction that occurred on Thursday, September 24th. The shares were bought at an average price of $2.21 per share, with a total value of $24,310.00. Following the transaction, the director directly owned 379,132 shares in the company, valued at $837,881.72. This trade represents a 2.99% increase in their ownership of the stock. The purchase was disclosed in a document filed with the Securities & Exchange Commission, which is available through the SEC website.

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

• On Friday, September 18th, D Merriman purchased 6,700 shares of PodcastOne stock. The stock was bought at an average price of $2.36 per share, for a total transaction of $15,812.00.
• On Wednesday, September 16th, D Merriman acquired 7,700 shares of PodcastOne stock. The shares were bought at an average price of $2.30 per share, with a total value of $17,710.00.
• On Friday, August 21st, D Merriman acquired 15,700 shares of PodcastOne stock. The shares were bought at an average cost of $2.75 per share, with a total value of $43,175.00.
• On Monday, August 17th, D Merriman bought 11,300 shares of PodcastOne stock. The stock was purchased at an average price of $2.80 per share, for a total transaction of $31,640.00.
• On Friday, August 14th, D Merriman bought 17,000 shares of PodcastOne stock. The stock was purchased at an average price of $3.20 per share, for a total transaction of $54,400.00.

PodcastOne Price Performance

Shares of PODC traded down $0.13 during trading hours on Monday, hitting $2.07. The stock had a trading volume of 67,152 shares, compared to its average volume of 116,616. The stock has a market capitalization of $62.62 million, a price-to-earnings ratio of -17.25 and a beta of 2.10. The company’s fifty day moving average is $2.94 and its two-hundred day moving average is $3.26. PodcastOne, Inc. has a 52 week low of $1.50 and a 52 week high of $5.20.

PodcastOne (NASDAQ:PODC) last announced its quarterly earnings results on Wednesday, August 12th. The company reported ($0.05) earnings per share (EPS) for the quarter. The firm had revenue of $16.12 million for the quarter, compared to the consensus estimate of $17.76 million. PodcastOne had a negative net margin of 5.01% and a negative return on equity of 17.56%. Equities analysts predict that PodcastOne, Inc. will post -0.12 EPS for the current fiscal year.

Institutional Inflows and Outflows

Several institutional investors have recently bought and sold shares of PODC. Integrated Wealth Concepts LLC acquired a new position in PodcastOne during the 2nd quarter worth $32,000. Permanens Capital L.P. acquired a new stake in shares of PodcastOne in the 2nd quarter valued at $45,000. Dimensional Fund Advisors LP bought a new stake in shares of PodcastOne during the first quarter worth $30,000. BlackRock Inc. bought a new stake in shares of PodcastOne during the second quarter worth $280,000. Finally, NewEdge Advisors LLC lifted its stake in shares of PodcastOne by 168.2% during the first quarter. NewEdge Advisors LLC now owns 88,455 shares of the company’s stock valued at $180,000 after acquiring an additional 55,473 shares during the period. Institutional investors own 2.87% of the company’s stock.

Analyst Upgrades and Downgrades

PODC has been the topic of a number of research analyst reports. Weiss Ratings restated a “sell (d-)” rating on shares of PodcastOne in a research report on Monday, September 21st. Zacks Research downgraded PodcastOne from a “hold” rating to a “strong sell” rating in a research report on Wednesday, August 19th. Finally, Wall Street Zen lowered PodcastOne from a “hold” rating to a “sell” rating in a research note on Saturday, August 22nd. Two research analysts have rated the stock with a Sell rating, Based on data from MarketBeat.com, the stock has an average rating of “Sell”.

About PodcastOne

PodcastOne is a digital media and podcasting company that operates a podcast network and provides services for podcast creators, advertisers and audiences. Its business includes podcast production, distribution, hosting, audience development and advertising sales, with programming spanning news, entertainment, sports, comedy, business and lifestyle topics.

The company also offers podcast-related technology and analytics designed to help creators manage and grow their shows, while giving advertisers opportunities to reach targeted audiences through audio and other digital media.