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

PodcastOne, Inc. (NASDAQ:PODCGet Free Report) Director D Merriman bought 7,700 shares of the firm’s stock in a transaction that occurred on Wednesday, September 16th. The stock was acquired at an average cost of $2.30 per share, with a total value of $17,710.00. Following the transaction, the director owned 361,432 shares of the company’s stock, valued at $831,293.60. This represents a 2.18% increase in their position. The acquisition was disclosed in a legal filing with the SEC, which is accessible through 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 acquired 11,300 shares of PodcastOne stock. The shares were acquired at an average price of $2.80 per share, with a total value 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

Shares of NASDAQ PODC opened at $2.36 on Friday. The stock has a market capitalization of $71.39 million, a price-to-earnings ratio of -19.67 and a beta of 2.10. The business has a 50-day moving average of $3.13 and a 200-day moving average of $3.26. PodcastOne, Inc. has a fifty-two week low of $1.50 and a fifty-two week high of $5.20.

PodcastOne (NASDAQ:PODCGet Free Report) last released its earnings results on Wednesday, August 12th. The company reported ($0.05) earnings per share (EPS) for the quarter. The company had revenue of $16.12 million for the quarter, compared to the consensus estimate 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 expect that PodcastOne, Inc. will post -0.12 EPS for the current year.

Institutional Inflows and Outflows

Several hedge funds and other institutional investors have recently made changes to their positions in the business. Integrated Wealth Concepts LLC bought a new stake in PodcastOne in the 2nd quarter valued at $32,000. Permanens Capital L.P. acquired a new stake in PodcastOne during the 2nd quarter valued at $45,000. Dimensional Fund Advisors LP bought a new position in PodcastOne during the first quarter worth $30,000. NewEdge Advisors LLC boosted its position in PodcastOne by 168.2% during the first quarter. NewEdge Advisors LLC now owns 88,455 shares of the company’s stock worth $180,000 after purchasing an additional 55,473 shares during the period. Finally, BlackRock Inc. acquired a new position in shares of PodcastOne in the second quarter valued at $280,000. 2.87% of the stock is currently owned by institutional investors.

Wall Street Analysts Forecast Growth

Several equities analysts recently weighed in on the stock. 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 reaffirmed a “sell (d-)” rating on shares of PodcastOne in a report on Wednesday, June 24th. Two investment analysts have rated the stock with a Sell rating, Based on data from MarketBeat.com, the company presently has a consensus rating of “Sell”.

Read Our Latest Stock Analysis on PODC

About PodcastOne

(Get Free Report)

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.

See Also

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

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