PodcastOne (NASDAQ:PODC) Director Purchases $43,175.00 in Stock

PodcastOne, Inc. (NASDAQ:PODC) Director D Jonathan Merriman acquired 15,700 shares of the company’s stock in a transaction on Friday, August 21st. The stock was bought at an average price of $2.75 per share, for a total transaction of $43,175.00. Following the purchase, the director owned 353,732 shares in the company, valued at approximately $972,763. This trade represents a 4.64% increase in their position. The acquisition was disclosed in a document filed 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 bought at an average price of $2.80 per share, with a total value of $31,640.00.
• On Friday, August 14th, D Jonathan Merriman bought 17,000 shares of PodcastOne stock. The shares were bought at an average cost of $3.20 per share, with a total value of $54,400.00.

PodcastOne Trading Up 4.2%

PODC opened at $2.71 on Friday. The stock has a fifty day moving average price of $3.64 and a 200 day moving average price of $3.28. PodcastOne, Inc. has a 1 year low of $1.41 and a 1 year high of $5.20. The stock has a market cap of $81.98 million, a price-to-earnings ratio of -22.58 and a beta of 2.15.

PodcastOne (NASDAQ:PODC) last issued its earnings results on Wednesday, August 12th. The company reported ($0.05) earnings per share for the quarter. The firm had revenue of $16.12 million during the quarter, compared to analyst estimates of $17.76 million. PodcastOne had a negative return on equity of 17.56% and a negative net margin of 5.01%. As a group, sell-side analysts forecast that PodcastOne, Inc. will post -0.12 earnings per share for the current fiscal year.

Analysts Set New Price Targets

A number of brokerages recently issued reports on PODC. Weiss Ratings reiterated a “sell (d-)” rating on shares of PodcastOne in a report on Wednesday, June 24th. Wall Street Zen lowered PodcastOne from a “hold” rating to a “sell” rating in a report on Saturday, August 22nd. Finally, Zacks Research cut PodcastOne from a “hold” rating to a “strong sell” rating in a research report on Wednesday, August 19th. Two equities research analysts have rated the stock with a Sell rating, According to MarketBeat.com, the company has a consensus rating of “Sell”.

Institutional Inflows and Outflows

A number of hedge funds and other institutional investors have recently bought and sold shares of the company. Permanens Capital L.P. bought a new position in PodcastOne in the 2nd quarter worth $45,000. Dimensional Fund Advisors LP bought a new stake in PodcastOne during the first quarter valued at about $30,000. Creative Planning bought a new stake in PodcastOne during the second quarter valued at about $49,000. Citadel Advisors LLC grew its position in shares of PodcastOne by 267.5% in the third quarter. Citadel Advisors LLC now owns 41,958 shares of the company’s stock valued at $70,000 after purchasing an additional 30,541 shares during the last quarter. Finally, NewEdge Advisors LLC acquired a new stake in shares of PodcastOne in the fourth quarter valued at about $81,000. 2.87% of the stock is currently owned by institutional investors and hedge funds.

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.