Insider Buying: PodcastOne (NASDAQ:PODC) Insider Acquires 4,500 Shares of Stock

PodcastOne, Inc. (NASDAQ:PODC) insider Ryan Carhart acquired 4,500 shares of the stock in a transaction that occurred on Friday, April 17th. The shares were bought at an average price of $2.24 per share, for a total transaction of $10,080.00. Following the transaction, the insider owned 11,061 shares of the company’s stock, valued at $24,776.64. This trade represents a 68.59% increase in their ownership of the stock. The acquisition was disclosed in a document filed with the SEC, which is available through this hyperlink.

PodcastOne Price Performance

PodcastOne stock remained flat at $2.70 during midday trading on Tuesday. 56,529 shares of the company were exchanged, compared to its average volume of 115,095. The stock has a market cap of $74.22 million, a price-to-earnings ratio of -18.00 and a beta of 0.48. The company’s 50 day simple moving average is $2.39 and its 200 day simple moving average is $2.32. PodcastOne, Inc. has a 12 month low of $1.30 and a 12 month high of $3.35.

PodcastOne (NASDAQ:PODC) last issued its quarterly earnings data on Thursday, February 12th. The company reported ($0.01) earnings per share for the quarter, beating analysts’ consensus estimates of ($0.02) by $0.01. The company had revenue of $15.86 million for the quarter, compared to the consensus estimate of $15.03 million. PodcastOne had a negative net margin of 6.22% and a negative return on equity of 24.78%. Sell-side analysts forecast that PodcastOne, Inc. will post -0.11 earnings per share for the current fiscal year.

Institutional Inflows and Outflows

Institutional investors have recently added to or reduced their stakes in the business. NewEdge Advisors LLC bought a new position in PodcastOne in the fourth quarter worth approximately $81,000. Citadel Advisors LLC raised its position in PodcastOne by 267.5% in the third quarter. Citadel Advisors LLC now owns 41,958 shares of the company’s stock worth $70,000 after acquiring an additional 30,541 shares during the period. Finally, Creative Planning bought a new position in PodcastOne in the second quarter worth approximately $49,000. 2.87% of the stock is currently owned by institutional investors.

Analyst Upgrades and Downgrades

Separately, Weiss Ratings reiterated a “sell (d-)” rating on shares of PodcastOne in a research report on Friday, March 27th. One equities research analyst has rated the stock with a Hold rating and one has issued a Sell rating to the company’s stock. According to data from MarketBeat, PodcastOne has an average rating of “Reduce”.

About PodcastOne

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.