Insider Buying: PodcastOne (NASDAQ:PODC) Director Purchases $15,470.00 in Stock

PodcastOne, Inc. (NASDAQ:PODC) Director D Merriman acquired 7,000 shares of the company’s stock in a transaction on Wednesday, September 30th. The shares were bought at an average cost of $2.21 per share, with a total value of $15,470.00. Following the acquisition, the director directly owned 386,132 shares in the company, valued at approximately $853,351.72. The trade was a 1.85% increase in their ownership of the stock. The purchase was disclosed in a document filed with the SEC, which is accessible through the SEC website.

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

• On Thursday, September 24th, D Merriman acquired 11,000 shares of PodcastOne stock. The stock was purchased at an average cost of $2.21 per share, for a total transaction of $24,310.00.
• On Friday, September 18th, D Merriman bought 6,700 shares of PodcastOne stock. The shares were purchased at an average price of $2.36 per share, with a total value of $15,812.00.
• On Wednesday, September 16th, D Merriman bought 7,700 shares of PodcastOne stock. The stock was acquired at an average cost of $2.30 per share, with a total value of $17,710.00.
• On Friday, August 21st, D Merriman purchased 15,700 shares of PodcastOne stock. The stock was acquired at an average price of $2.75 per share, for a total transaction of $43,175.00.
• On Monday, August 17th, D Merriman purchased 11,300 shares of PodcastOne stock. The stock was acquired at an average price of $2.80 per share, for a total transaction of $31,640.00.
• On Friday, August 14th, D Merriman acquired 17,000 shares of PodcastOne stock. The shares were acquired at an average price of $3.20 per share, with a total value of $54,400.00.

PodcastOne Stock Up 1.7%

PODC stock opened at $2.35 on Friday. PodcastOne, Inc. has a 52 week low of $1.50 and a 52 week high of $5.20. The firm has a market capitalization of $71.09 million, a P/E ratio of -19.58 and a beta of 2.18. The company has a fifty day simple moving average of $2.77 and a two-hundred day simple moving average of $3.25.

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

Institutional Trading of PodcastOne

A number of hedge funds have recently added to or reduced their stakes in the business. Dimensional Fund Advisors LP bought a new position in PodcastOne during the 1st quarter worth about $30,000. Integrated Wealth Concepts LLC bought a new stake in shares of PodcastOne in the 2nd quarter valued at about $32,000. Permanens Capital L.P. purchased a new stake in shares of PodcastOne in the 2nd quarter worth approximately $45,000. NewEdge Advisors LLC lifted its position in shares of PodcastOne by 168.2% in the 1st quarter. NewEdge Advisors LLC now owns 88,455 shares of the company’s stock worth $180,000 after purchasing an additional 55,473 shares during the period. Finally, BlackRock Inc. bought a new position in shares of PodcastOne during the second quarter valued at approximately $280,000. 2.87% of the stock is owned by hedge funds and other institutional investors.

Analysts Set New Price Targets

A number of equities research analysts have issued reports on PODC shares. Wall Street Zen downgraded PodcastOne from a “hold” rating to a “sell” rating in a research report on Saturday, August 22nd. Zacks Research cut PodcastOne from a “hold” rating to a “strong sell” rating in a report on Wednesday, August 19th. Finally, Weiss Ratings reissued a “sell (d-)” rating on shares of PodcastOne in a research report on Monday, September 21st. Two equities research analysts have rated the stock with a Sell rating, According to MarketBeat.com, the company currently 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.