PodcastOne (NASDAQ:PODC) Insider Purchases $10,080.00 in Stock

PodcastOne, Inc. (NASDAQ:PODC) insider Ryan Carhart bought 4,500 shares of the firm’s stock in a transaction on Friday, April 17th. The shares were bought at an average cost of $2.24 per share, with a total value of $10,080.00. Following the purchase, the insider directly owned 11,061 shares in the company, valued at approximately $24,776.64. This trade represents a 68.59% increase in their ownership of the stock. The transaction was disclosed in a legal filing with the SEC, which can be accessed through this hyperlink.

PodcastOne Stock Down 2.5%

Shares of NASDAQ:PODC opened at $2.70 on Friday. The firm has a fifty day moving average of $2.38 and a two-hundred day moving average of $2.33. The firm has a market capitalization of $74.22 million, a P/E ratio of -18.00 and a beta of 0.48. PodcastOne, Inc. has a 12-month low of $1.30 and a 12-month high of $3.35.

PodcastOne (NASDAQ:PODC) last issued its earnings results on Thursday, February 12th. The company reported ($0.01) earnings per share (EPS) for the quarter, beating analysts’ consensus estimates of ($0.02) by $0.01. The company had revenue of $15.86 million during the quarter, compared to analyst estimates of $15.03 million. PodcastOne had a negative net margin of 6.22% and a negative return on equity of 24.78%. Equities research analysts expect that PodcastOne, Inc. will post -0.11 earnings per share for the current fiscal year.

Institutional Inflows and Outflows

Several institutional investors and hedge funds have recently made changes to their positions in the stock. Creative Planning bought a new position in shares of PodcastOne during the 2nd quarter worth about $49,000. Citadel Advisors LLC increased 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 purchasing an additional 30,541 shares during the period. Finally, NewEdge Advisors LLC bought a new position in shares of PodcastOne during the 4th quarter worth about $81,000. Institutional investors own 2.87% of the company’s stock.

Wall Street Analyst Weigh In

Separately, Weiss Ratings reaffirmed a “sell (d-)” rating on shares of PodcastOne in a research note on Friday, March 27th. One analyst has rated the stock with a Hold rating and one has given a Sell rating to the stock. According to MarketBeat.com, the stock currently has an average rating of “Reduce”.

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.