PodcastOne (NASDAQ:PODC) Director D Jonathan Merriman Buys 7,700 Shares of Stock

PodcastOne, Inc. (NASDAQ:PODC) Director D Merriman acquired 7,700 shares of the business’s stock in a transaction that occurred on Wednesday, September 16th. The stock was purchased at an average price of $2.30 per share, for a total transaction of $17,710.00. Following the completion of the transaction, the director owned 361,432 shares in the company, valued at $831,293.60. The trade was a 2.18% increase in their ownership of the stock. The acquisition was disclosed in a legal filing with the Securities & Exchange Commission, which is available at this hyperlink.

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

• On Friday, August 21st, D Merriman purchased 15,700 shares of PodcastOne stock. The shares were acquired at an average cost of $2.75 per share, for a total transaction of $43,175.00.
• On Monday, August 17th, D Merriman purchased 11,300 shares of PodcastOne stock. The shares were acquired at an average cost of $2.80 per share, for a total transaction of $31,640.00.
• On Friday, August 14th, D Merriman acquired 17,000 shares of PodcastOne stock. The shares were acquired at an average price of $3.20 per share, with a total value of $54,400.00.

PodcastOne Price Performance

PODC stock traded up $0.10 on Friday, reaching $2.36. The company’s stock had a trading volume of 63,772 shares, compared to its average volume of 117,327. PodcastOne, Inc. has a 52 week low of $1.50 and a 52 week high of $5.20. The company has a market capitalization of $71.39 million, a P/E ratio of -19.67 and a beta of 2.10. The firm has a fifty day moving average of $3.16 and a two-hundred day moving average of $3.27.

PodcastOne (NASDAQ:PODC) last announced its earnings results on Wednesday, August 12th. The company reported ($0.05) earnings per share for the quarter. PodcastOne had a negative net margin of 5.01% and a negative return on equity of 17.56%. The business had revenue of $16.12 million for the quarter, compared to the consensus estimate of $17.76 million. As a group, equities analysts expect that PodcastOne, Inc. will post -0.12 EPS for the current fiscal year.

Institutional Trading of PodcastOne

A number of hedge funds and other institutional investors have recently modified their holdings of PODC. NewEdge Advisors LLC lifted its holdings in shares of PodcastOne by 168.2% in the first quarter. NewEdge Advisors LLC now owns 88,455 shares of the company’s stock valued at $180,000 after buying an additional 55,473 shares during the period. BlackRock Inc. acquired a new position in PodcastOne during the second quarter worth about $280,000. Dimensional Fund Advisors LP acquired a new position in PodcastOne during the first quarter worth about $30,000. Permanens Capital L.P. bought a new stake in PodcastOne in the second quarter worth about $45,000. Finally, Integrated Wealth Concepts LLC acquired a new stake in PodcastOne in the 2nd quarter valued at about $32,000. Institutional investors own 2.87% of the company’s stock.

Analysts Set New Price Targets

A number of equities research analysts recently weighed in on PODC shares. Zacks Research cut shares of PodcastOne from a “hold” rating to a “strong sell” rating in a research note on Wednesday, August 19th. Wall Street Zen lowered shares of PodcastOne from a “hold” rating to a “sell” rating in a research report on Saturday, August 22nd. Finally, Weiss Ratings reissued a “sell (d-)” rating on shares of PodcastOne in a research note on Wednesday, June 24th. Two equities research analysts have rated the stock with a Sell rating, According to data from MarketBeat.com, the company currently has an average rating of “Sell”.

PodcastOne Company Profile

PodcastOne is a digital media and podcasting company that operates a podcast network and provides services for podcast creators, advertisers and audiences. Its business includes podcast production, distribution, hosting, audience development and advertising sales, with programming spanning news, entertainment, sports, comedy, business and lifestyle topics.

The company also offers podcast-related technology and analytics designed to help creators manage and grow their shows, while giving advertisers opportunities to reach targeted audiences through audio and other digital media.