Insider Buying: PodcastOne (NASDAQ:PODC) Director Buys 11,300 Shares

PodcastOne, Inc. (NASDAQ:PODC) Director D Jonathan Merriman acquired 11,300 shares of the business’s stock in a transaction on Monday, August 17th. The shares were purchased at an average cost of $2.80 per share, for a total transaction of $31,640.00. Following the completion of the transaction, the director owned 338,032 shares in the company, valued at approximately $946,489.60. This represents a 3.46% increase in their position. The acquisition was disclosed in a filing with the Securities & Exchange Commission, which is available at this link.

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

• On Friday, August 14th, D Jonathan Merriman bought 17,000 shares of PodcastOne stock. The stock was purchased at an average cost of $3.20 per share, with a total value of $54,400.00.
• On Friday, May 22nd, D Jonathan Merriman bought 7,000 shares of PodcastOne stock. The stock was purchased at an average price of $4.38 per share, with a total value of $30,660.00.

PodcastOne Price Performance

PODC stock traded down $0.34 during midday trading on Monday, hitting $2.83. The stock had a trading volume of 192,024 shares, compared to its average volume of 123,641. The firm has a market cap of $85.47 million, a price-to-earnings ratio of -23.58 and a beta of 2.15. The business has a 50-day moving average of $3.92 and a two-hundred day moving average of $3.28. PodcastOne, Inc. has a 52-week low of $1.30 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) EPS for the quarter. PodcastOne had a negative net margin of 5.01% and a negative return on equity of 19.85%. The firm had revenue of $16.12 million for the quarter, compared to analysts’ expectations of $17.76 million. Research analysts predict that PodcastOne, Inc. will post -0.09 earnings per share for the current year.

Analyst Ratings Changes

A number of research analysts have issued reports on PODC shares. Weiss Ratings reiterated a “sell (d-)” rating on shares of PodcastOne in a research note on Wednesday, June 24th. Wall Street Zen cut shares of PodcastOne from a “buy” rating to a “hold” rating in a research note on Saturday, June 27th. One equities research analyst has rated the stock with a Hold rating and one has given a Sell rating to the company’s stock. According to data from MarketBeat.com, the stock has a consensus rating of “Reduce”.

Hedge Funds Weigh In On PodcastOne

A number of hedge funds have recently bought and sold shares of the business. Dimensional Fund Advisors LP purchased a new stake in shares of PodcastOne during the 1st quarter valued at about $30,000. Permanens Capital L.P. purchased a new stake in PodcastOne in the second quarter worth approximately $45,000. Creative Planning purchased a new stake in PodcastOne in the second quarter worth approximately $49,000. Citadel Advisors LLC grew its position 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 stake in PodcastOne in the 4th quarter worth approximately $81,000. Hedge funds and other institutional investors own 2.87% of the company’s stock.

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.