Insider Buying: PodcastOne (NASDAQ:PODC) Director Acquires $43,175.00 in Stock

PodcastOne, Inc. (NASDAQ:PODCGet Free Report) Director D Jonathan Merriman bought 15,700 shares of the business’s stock in a transaction on Friday, August 21st. The stock was bought at an average price of $2.75 per share, with a total value of $43,175.00. Following the purchase, the director owned 353,732 shares in the company, valued at $972,763. This trade represents a 4.64% increase in their ownership of the stock. The purchase was disclosed in a legal filing with the Securities & Exchange Commission, which is accessible through this link.

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 shares were purchased at an average cost of $2.80 per share, for a total transaction of $31,640.00.
  • On Friday, August 14th, D Jonathan Merriman purchased 17,000 shares of PodcastOne stock. The stock was purchased at an average cost of $3.20 per share, for a total transaction of $54,400.00.

PodcastOne Stock Performance

Shares of PODC stock opened at $2.65 on Tuesday. PodcastOne, Inc. has a 52-week low of $1.30 and a 52-week high of $5.20. The company has a market capitalization of $80.16 million, a PE ratio of -22.08 and a beta of 2.15. The business’s fifty day moving average is $3.74 and its 200 day moving average is $3.28.

PodcastOne (NASDAQ:PODCGet Free Report) last posted its earnings results on Wednesday, August 12th. The company reported ($0.05) EPS for the quarter. The business had revenue of $16.12 million for the quarter, compared to analysts’ expectations of $17.76 million. PodcastOne had a negative return on equity of 17.56% and a negative net margin of 5.01%. On average, sell-side analysts forecast that PodcastOne, Inc. will post -0.12 EPS for the current fiscal year.

Institutional Inflows and Outflows

Hedge funds and other institutional investors have recently bought and sold shares of the business. Dimensional Fund Advisors LP bought a new stake in shares of PodcastOne in the 1st quarter worth approximately $30,000. Permanens Capital L.P. purchased a new stake in PodcastOne in the second quarter worth about $45,000. Creative Planning bought a new stake in PodcastOne during the 2nd quarter valued at approximately $49,000. Citadel Advisors LLC grew its holdings in shares of 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 acquiring an additional 30,541 shares during the period. Finally, NewEdge Advisors LLC bought a new position in shares of PodcastOne in the 4th quarter worth approximately $81,000. Institutional investors own 2.87% of the company’s stock.

Analyst Ratings Changes

Several brokerages have issued reports on PODC. Wall Street Zen lowered shares of PodcastOne from a “hold” rating to a “sell” rating in a research report on Saturday. Weiss Ratings reaffirmed a “sell (d-)” rating on shares of PodcastOne in a report on Wednesday, June 24th. Finally, Zacks Research lowered shares of PodcastOne from a “hold” rating to a “strong sell” rating in a research report on Wednesday, August 19th. Two analysts have rated the stock with a Sell rating, Based on data from MarketBeat, the company currently has an average rating of “Sell”.

Get Our Latest Stock Analysis on PodcastOne

PodcastOne Company Profile

(Get Free Report)

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.

Recommended Stories

Insider Buying and Selling by Quarter for PodcastOne (NASDAQ:PODC)

Receive News & Ratings for PodcastOne Daily - Enter your email address below to receive a concise daily summary of the latest news and analysts' ratings for PodcastOne and related companies with MarketBeat.com's FREE daily email newsletter.