PodcastOne (NASDAQ:PODC) Director Purchases $16,539.00 in Stock

PodcastOne, Inc. (NASDAQ:PODC) Director D Jonathan Merriman bought 11,100 shares of PodcastOne stock in a transaction dated Friday, August 22nd. The stock was purchased at an average cost of $1.49 per share, with a total value of $16,539.00. Following the completion of the acquisition, the director directly owned 232,379 shares in the company, valued at approximately $346,244.71. The trade was a 5.02% increase in their position. The acquisition was disclosed in a filing with the SEC, which is available at the SEC website.

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

• On Thursday, August 21st, D Jonathan Merriman bought 5,700 shares of PodcastOne stock. The stock was purchased at an average cost of $1.49 per share, with a total value of $8,493.00.

PodcastOne Stock Performance

PodcastOne stock opened at $1.56 on Friday. PodcastOne, Inc. has a fifty-two week low of $1.10 and a fifty-two week high of $2.94. The company has a market capitalization of $41.20 million, a P/E ratio of -6.78 and a beta of -0.12. The stock has a 50-day simple moving average of $1.91 and a 200-day simple moving average of $1.87.

PodcastOne (NASDAQ:PODC) last posted its earnings results on Wednesday, August 13th. The company reported ($0.04) earnings per share for the quarter, beating the consensus estimate of ($0.05) by $0.01. PodcastOne had a negative return on equity of 38.84% and a negative net margin of 10.86%.The business had revenue of $14.99 million during the quarter, compared to the consensus estimate of $14.90 million. As a group, analysts forecast that PodcastOne, Inc. will post -0.24 earnings per share for the current year.

Institutional Trading of PodcastOne

Institutional investors and hedge funds have recently made changes to their positions in the company. Renaissance Technologies LLC purchased a new stake in shares of PodcastOne in the 4th quarter valued at about $26,000. Thompson Davis & CO. Inc. acquired a new position in PodcastOne in the 2nd quarter valued at about $38,000. XTX Topco Ltd acquired a new position in PodcastOne in the 1st quarter valued at about $26,000. Pingora Partners LLC increased 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 during the period. Finally, Creative Planning acquired a new position in PodcastOne in the 2nd quarter valued at about $49,000. 2.87% of the stock is owned by hedge funds and other institutional investors.

PodcastOne Company Profile

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.