D Jonathan Merriman Purchases 6,100 Shares of PodcastOne (NASDAQ:PODC) Stock

PodcastOne, Inc. (NASDAQ:PODC) Director D Jonathan Merriman purchased 6,100 shares of the stock in a transaction on Tuesday, December 16th. The shares were acquired at an average price of $2.08 per share, for a total transaction of $12,688.00. Following the transaction, the director directly owned 283,252 shares of the company’s stock, valued at $589,164.16. This represents a 2.20% increase in their position. The transaction was disclosed in a legal filing with the Securities & Exchange Commission, which is available through this link.

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

• On Friday, December 5th, D Jonathan Merriman purchased 5,700 shares of PodcastOne stock. The stock was bought at an average cost of $2.16 per share, for a total transaction of $12,312.00.
• On Wednesday, November 26th, D Jonathan Merriman purchased 7,373 shares of PodcastOne stock. The stock was bought at an average cost of $2.47 per share, with a total value of $18,211.31.
• On Wednesday, November 19th, D Jonathan Merriman acquired 11,000 shares of PodcastOne stock. The shares were bought at an average cost of $2.20 per share, for a total transaction of $24,200.00.
• On Friday, November 14th, D Jonathan Merriman bought 10,700 shares of PodcastOne stock. The stock was bought at an average price of $2.16 per share, for a total transaction of $23,112.00.

PodcastOne Stock Down 1.3%

PODC opened at $2.22 on Friday. PodcastOne, Inc. has a twelve month low of $1.28 and a twelve month high of $2.94. The company has a 50-day moving average price of $2.18 and a 200 day moving average price of $1.96. The company has a market cap of $59.74 million, a PE ratio of -11.10 and a beta of -0.11.

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

Wall Street Analysts Forecast Growth

PODC has been the topic of several recent research reports. Zacks Research raised shares of PodcastOne from a “strong sell” rating to a “hold” rating in a research note on Friday, November 14th. Weiss Ratings reissued a “sell (d-)” rating on shares of PodcastOne in a research note on Monday. One investment analyst has rated the stock with a Hold rating and one has assigned a Sell rating to the company. According to data from MarketBeat, the stock presently has a consensus rating of “Reduce”.

Hedge Funds Weigh In On PodcastOne

Institutional investors have recently bought and sold shares of the company. Rockefeller Capital Management L.P. acquired a new position in PodcastOne in the 2nd quarter valued at about $316,000. Citadel Advisors LLC raised its position in shares of 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 buying an additional 30,541 shares during the period. Creative Planning acquired a new position in PodcastOne in the second quarter valued at approximately $49,000. Thompson Davis & CO. Inc. purchased a new position in PodcastOne in the second quarter worth approximately $38,000. Finally, Pingora Partners LLC grew its position in PodcastOne by 122.3% in the first quarter. Pingora Partners LLC now owns 16,724 shares of the company’s stock worth $27,000 after acquiring an additional 9,200 shares during the period. 2.87% of the stock is 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.