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

PodcastOne, Inc. (NASDAQ:PODC) insider Ryan Carhart acquired 4,500 shares of the firm’s stock in a transaction dated Friday, April 17th. The shares were purchased at an average price of $2.24 per share, for a total transaction of $10,080.00. Following the completion of the transaction, the insider directly owned 11,061 shares in the company, valued at approximately $24,776.64. This trade represents a 68.59% increase in their ownership of the stock. The purchase was disclosed in a legal filing with the SEC, which is available through the SEC website.

PodcastOne Stock Performance

Shares of PODC stock remained flat at $2.70 on Tuesday. 56,529 shares of the stock traded hands, 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. PodcastOne, Inc. has a 12-month low of $1.30 and a 12-month high of $3.35. The business has a 50 day moving average price of $2.39 and a 200 day moving average price of $2.32.

PodcastOne (NASDAQ:PODC) last announced its quarterly earnings data on Thursday, February 12th. The company reported ($0.01) EPS for the quarter, beating the consensus estimate of ($0.02) by $0.01. The firm 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%. Analysts forecast that PodcastOne, Inc. will post -0.11 earnings per share for the current fiscal year.

Wall Street Analysts Forecast Growth

Separately, Weiss Ratings restated a “sell (d-)” rating on shares of PodcastOne in a research report on Friday, March 27th. One analyst has rated the stock with a Hold rating and one has issued a Sell rating to the stock. Based on data from MarketBeat.com, the company currently has a consensus rating of “Reduce”.

Hedge Funds Weigh In On PodcastOne

Institutional investors have recently bought and sold shares of the stock. Creative Planning purchased a new position in PodcastOne during the second quarter valued at $49,000. NewEdge Advisors LLC purchased a new position in PodcastOne during the fourth quarter valued at $81,000. Finally, Citadel Advisors LLC grew its stake in PodcastOne by 267.5% during the third quarter. Citadel Advisors LLC now owns 41,958 shares of the company’s stock valued at $70,000 after acquiring an additional 30,541 shares in the last quarter. 2.87% of the stock is owned by hedge funds and other institutional investors.

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.