Insider Buying: PodcastOne (NASDAQ:PODC) Director Buys $23,112.00 in Stock

PodcastOne, Inc. (NASDAQ:PODC) Director D Jonathan Merriman bought 10,700 shares of the stock in a transaction that occurred on Friday, November 14th. The shares were bought at an average cost of $2.16 per share, with a total value of $23,112.00. Following the completion of the transaction, the director owned 253,079 shares in the company, valued at $546,650.64. The trade was a 4.41% increase in their ownership of the stock. The transaction was disclosed in a legal filing with the SEC, which is available at the SEC website.

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

• On Thursday, September 4th, D Jonathan Merriman purchased 10,000 shares of PodcastOne stock. The stock was bought at an average cost of $1.58 per share, with a total value of $15,800.00.
• On Friday, August 22nd, D Jonathan Merriman acquired 11,100 shares of PodcastOne stock. The shares were bought at an average price of $1.49 per share, with a total value of $16,539.00.
• On Thursday, August 21st, D Jonathan Merriman acquired 5,700 shares of PodcastOne stock. The stock was bought at an average cost of $1.49 per share, for a total transaction of $8,493.00.

PodcastOne Stock Performance

NASDAQ:PODC opened at $2.29 on Thursday. PodcastOne, Inc. has a fifty-two week low of $1.28 and a fifty-two week high of $2.94. The company has a 50 day simple moving average of $1.93 and a two-hundred day simple moving average of $1.91. The company has a market capitalization of $61.62 million, a PE ratio of -11.45 and a beta of -0.06.

PodcastOne (NASDAQ:PODC) last posted its quarterly earnings data on Wednesday, November 12th. The company reported ($0.04) EPS for the quarter, beating analysts’ consensus estimates of ($0.05) by $0.01. PodcastOne had a negative net margin of 9.07% and a negative return on equity of 34.68%. The company had revenue of $15.16 million for the quarter, compared to analyst estimates of $14.26 million. Research analysts predict that PodcastOne, Inc. will post -0.24 EPS for the current year.

Institutional Trading of PodcastOne

Hedge funds have recently bought and sold shares of the business. XTX Topco Ltd acquired a new position in shares of PodcastOne during the first quarter valued at about $26,000. Pingora Partners LLC lifted its position in PodcastOne by 122.3% in the 1st quarter. Pingora Partners LLC now owns 16,724 shares of the company’s stock valued at $27,000 after acquiring an additional 9,200 shares in the last quarter. Citadel Advisors LLC boosted its stake in PodcastOne by 267.5% during the 3rd 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 bought a new stake in PodcastOne during the 2nd quarter worth approximately $49,000. Finally, Thompson Davis & CO. Inc. purchased a new stake in shares of PodcastOne in the second quarter worth approximately $38,000. Institutional investors and hedge funds own 2.87% of the company’s stock.

Analyst Ratings Changes

PODC has been the topic of several research analyst reports. Weiss Ratings restated a “sell (e+)” rating on shares of PodcastOne in a research report on Friday, October 31st. Zacks Research upgraded shares of PodcastOne from a “strong sell” rating to a “hold” rating in a research note on Friday, November 14th. One analyst has rated the stock with a Hold rating and one has assigned a Sell rating to the company. According to MarketBeat, the stock currently has an average rating of “Reduce”.

About PodcastOne

PodcastOne, Inc operates as a podcast platform and publisher. The company offers its content to audiences through podcasting distribution platforms, including its website, Apple Podcasts, Spotify, Amazon Music, and others. It also produces vodcasts, branded podcasts, merchandise, and live events. In addition, the company builds, owns, and operates LaunchPadOne, a self-publishing podcast platform.