Insider Buying: PodcastOne (NASDAQ:PODC) Director Buys 6,300 Shares of Stock

PodcastOne, Inc. (NASDAQ:PODC) Director D Jonathan Merriman purchased 6,300 shares of PodcastOne stock in a transaction that occurred on Thursday, March 12th. The stock was bought at an average cost of $2.22 per share, with a total value of $13,986.00. Following the completion of the transaction, the director owned 289,552 shares of the company’s stock, valued at $642,805.44. The trade was a 2.22% increase in their ownership of the stock. The acquisition was disclosed in a legal filing with the SEC, which can be accessed through this hyperlink.

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

• On Tuesday, December 16th, D Jonathan Merriman acquired 6,100 shares of PodcastOne stock. The shares were purchased at an average cost of $2.08 per share, for a total transaction of $12,688.00.

PodcastOne Trading Up 5.2%

Shares of PodcastOne stock traded up $0.12 on Monday, hitting $2.41. The stock had a trading volume of 113,070 shares, compared to its average volume of 153,995. The stock has a market cap of $65.46 million, a price-to-earnings ratio of -16.07 and a beta of 0.01. PodcastOne, Inc. has a 52-week low of $1.28 and a 52-week high of $3.35. The company’s 50 day moving average price is $2.59 and its 200 day moving average price is $2.22.

PodcastOne (NASDAQ:PODC) last issued its quarterly earnings results on Thursday, February 12th. The company reported ($0.01) earnings per share (EPS) for the quarter, beating the consensus estimate of ($0.02) by $0.01. PodcastOne had a negative return on equity of 24.78% and a negative net margin of 6.22%.The firm had revenue of $15.86 million for the quarter, compared to analysts’ expectations of $15.03 million. Analysts predict that PodcastOne, Inc. will post -0.24 EPS for the current fiscal year.

Analyst Upgrades and Downgrades

Separately, Weiss Ratings restated a “sell (d-)” rating on shares of PodcastOne in a research report on Monday, December 29th. One equities research analyst has rated the stock with a Hold rating and one has given a Sell rating to the company. Based on data from MarketBeat, the stock presently has an average rating of “Reduce”.

Institutional Inflows and Outflows

Several hedge funds and other institutional investors have recently made changes to their positions in the company. Creative Planning acquired a new stake in PodcastOne in the 2nd quarter valued at about $49,000. Citadel Advisors LLC increased its stake 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 purchasing an additional 30,541 shares in the last quarter. NewEdge Advisors LLC acquired a new position in shares of PodcastOne during the 4th quarter worth approximately $81,000. Finally, Rockefeller Capital Management L.P. purchased a new stake in PodcastOne in the 2nd quarter valued at approximately $316,000. Institutional investors and hedge funds own 2.87% of the company’s stock.

About PodcastOne

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.