D Jonathan Merriman Acquires 17,000 Shares of PodcastOne (NASDAQ:PODC) Stock

PodcastOne, Inc. (NASDAQ:PODC) Director D Jonathan Merriman acquired 17,000 shares of the company’s stock in a transaction that occurred on Friday, August 14th. The shares were acquired at an average price of $3.20 per share, with a total value of $54,400.00. Following the completion of the transaction, the director owned 326,732 shares in the company, valued at $1,045,542.40. The trade was a 5.49% increase in their ownership of the stock. The acquisition was disclosed in a filing with the Securities & Exchange Commission, which is available through the SEC website.

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

• On Monday, August 17th, D Jonathan Merriman bought 11,300 shares of PodcastOne stock. The stock was acquired at an average price of $2.80 per share, for a total transaction of $31,640.00.
• On Friday, May 22nd, D Jonathan Merriman bought 7,000 shares of PodcastOne stock. The shares were acquired at an average cost of $4.38 per share, with a total value of $30,660.00.

PodcastOne Trading Down 3.2%

Shares of NASDAQ PODC opened at $2.74 on Wednesday. The company has a market cap of $82.75 million, a price-to-earnings ratio of -22.83 and a beta of 2.15. PodcastOne, Inc. has a 12 month low of $1.30 and a 12 month high of $5.20. The stock has a 50-day moving average price of $3.85 and a two-hundred day moving average price of $3.29.

PodcastOne (NASDAQ:PODC) last posted its quarterly earnings results on Wednesday, August 12th. The company reported ($0.05) earnings per share for the quarter. The company had revenue of $16.12 million during the quarter, compared to analyst estimates of $17.76 million. PodcastOne had a negative net margin of 5.01% and a negative return on equity of 19.85%. On average, sell-side analysts predict that PodcastOne, Inc. will post -0.09 earnings per share for the current year.

Wall Street Analyst Weigh In

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

Institutional Inflows and Outflows

A number of large investors have recently added to or reduced their stakes in the business. Permanens Capital L.P. acquired a new position in PodcastOne in the 2nd quarter valued at approximately $45,000. Dimensional Fund Advisors LP bought a new stake in shares of PodcastOne in the first quarter worth $30,000. Creative Planning acquired a new stake in PodcastOne in the second quarter valued at $49,000. Citadel Advisors LLC raised its position in PodcastOne by 267.5% during 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 last quarter. Finally, NewEdge Advisors LLC bought a new position in PodcastOne during the 4th quarter worth $81,000. 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.