PodcastOne (NASDAQ:PODC) Director D Jonathan Merriman Buys 15,700 Shares

PodcastOne, Inc. (NASDAQ:PODC) Director D Jonathan Merriman acquired 15,700 shares of PodcastOne stock in a transaction on Friday, August 21st. The shares were purchased at an average price of $2.75 per share, with a total value of $43,175.00. Following the completion of the purchase, the director owned 353,732 shares in the company, valued at $972,763. This represents a 4.64% increase in their position. The acquisition was disclosed in a legal filing with the Securities & Exchange Commission, which is available at the SEC website.

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

• On Monday, August 17th, D Jonathan Merriman bought 11,300 shares of PodcastOne stock. The stock was purchased at an average cost of $2.80 per share, with a total value of $31,640.00.
• On Friday, August 14th, D Jonathan 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 Stock Up 1.5%

NASDAQ:PODC opened at $2.69 on Wednesday. The stock has a market cap of $81.37 million, a price-to-earnings ratio of -22.42 and a beta of 2.15. The company’s 50 day moving average price is $3.70 and its 200-day moving average price is $3.28. PodcastOne, Inc. has a 52 week low of $1.31 and a 52 week high of $5.20.

PodcastOne (NASDAQ:PODC) last announced its quarterly earnings data 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 firm had revenue of $16.12 million during the quarter, compared to analysts’ expectations of $17.76 million. As a group, sell-side analysts anticipate that PodcastOne, Inc. will post -0.12 earnings per share for the current year.

Analyst Upgrades and Downgrades

Several research firms recently commented on PODC. Weiss Ratings reaffirmed a “sell (d-)” rating on shares of PodcastOne in a research report on Wednesday, June 24th. Wall Street Zen lowered PodcastOne from a “hold” rating to a “sell” rating in a research report on Saturday. Finally, Zacks Research cut shares of PodcastOne from a “hold” rating to a “strong sell” rating in a research note on Wednesday, August 19th. Two research analysts have rated the stock with a Sell rating, According to data from MarketBeat, the company has a consensus rating of “Sell”.

Institutional Investors Weigh In On PodcastOne

A number of hedge funds have recently added to or reduced their stakes in the stock. Dimensional Fund Advisors LP bought a new position in shares of PodcastOne during the 1st quarter valued at $30,000. Permanens Capital L.P. bought a new stake in shares of PodcastOne during the 2nd quarter valued at $45,000. Creative Planning purchased a new stake in shares of PodcastOne in the 2nd quarter worth $49,000. Citadel Advisors LLC raised its holdings 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 purchasing an additional 30,541 shares during the period. Finally, NewEdge Advisors LLC bought a new position in PodcastOne in the 4th quarter worth $81,000. 2.87% of the stock is currently owned by hedge funds and other 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.