PodcastOne (NASDAQ:PODC) Director D Jonathan Merriman Acquires 7,000 Shares

PodcastOne, Inc. (NASDAQ:PODC) Director D Jonathan Merriman bought 7,000 shares of the company’s stock in a transaction dated Friday, May 22nd. The shares were purchased at an average price of $4.38 per share, with a total value of $30,660.00. Following the transaction, the director owned 309,732 shares of the company’s stock, valued at $1,356,626.16. The trade was a 2.31% increase in their ownership of the stock. The acquisition was disclosed in a filing with the Securities & Exchange Commission, which is available through this link.

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

• On Friday, April 17th, D Jonathan Merriman acquired 10,200 shares of PodcastOne stock. The stock was bought at an average price of $2.11 per share, with a total value of $21,522.00.
• On Monday, March 23rd, D Jonathan Merriman acquired 2,980 shares of PodcastOne stock. The stock was bought at an average price of $2.35 per share, with a total value of $7,003.00.
• On Thursday, March 12th, D Jonathan Merriman acquired 6,300 shares of PodcastOne stock. The stock was bought at an average price of $2.22 per share, with a total value of $13,986.00.

PodcastOne Trading Up 6.2%

NASDAQ PODC opened at $4.76 on Wednesday. The stock has a 50-day simple moving average of $2.91 and a 200 day simple moving average of $2.61. The company has a market capitalization of $130.84 million, a PE ratio of -31.73 and a beta of 1.72. PodcastOne, Inc. has a 12 month low of $1.30 and a 12 month high of $5.07.

Institutional Inflows and Outflows

A number of institutional investors and hedge funds have recently added to or reduced their stakes in PODC. Dimensional Fund Advisors LP acquired a new position in PodcastOne in the first quarter valued at about $30,000. Creative Planning acquired a new position in PodcastOne in the second quarter valued at about $49,000. Citadel Advisors LLC grew its stake in 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 acquiring an additional 30,541 shares during the period. Finally, NewEdge Advisors LLC acquired a new position in PodcastOne in the fourth quarter valued at about $81,000. 2.87% of the stock is owned by institutional investors and hedge funds.

Wall Street Analyst Weigh In

Separately, Weiss Ratings reiterated a “sell (d-)” rating on shares of PodcastOne in a report on Friday, March 27th. One equities research analyst has rated the stock with a Hold rating and one has given a Sell rating to the company’s stock. According to data from MarketBeat, PodcastOne 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.