D Jonathan Merriman Buys 17,000 Shares of PodcastOne (NASDAQ:PODC) Stock

PodcastOne, Inc. (NASDAQ:PODC) Director D Jonathan Merriman bought 17,000 shares of the firm’s stock in a transaction dated Friday, August 14th. The shares were bought at an average price of $3.20 per share, with a total value of $54,400.00. Following the completion of the transaction, the director directly owned 326,732 shares in the company, valued at approximately $1,045,542.40. This trade represents a 5.49% increase in their position. The transaction was disclosed in a legal filing with the Securities & Exchange Commission, which is available through this hyperlink.

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

• On Monday, August 17th, D Jonathan Merriman purchased 11,300 shares of PodcastOne stock. The stock was purchased at an average price of $2.80 per share, for a total transaction of $31,640.00.
• On Friday, May 22nd, D Jonathan Merriman acquired 7,000 shares of PodcastOne stock. The shares were purchased at an average cost of $4.38 per share, for a total transaction of $30,660.00.

PodcastOne Stock Down 10.7%

PodcastOne stock traded down $0.34 during midday trading on Monday, hitting $2.83. 192,024 shares of the stock were exchanged, compared to its average volume of 123,641. The stock has a market capitalization of $85.47 million, a PE ratio of -23.58 and a beta of 2.15. The company has a fifty day simple moving average of $3.92 and a two-hundred day simple moving average of $3.28. PodcastOne, Inc. has a 52 week low of $1.30 and a 52 week high of $5.20.

PodcastOne (NASDAQ:PODC) last issued its earnings results on Wednesday, August 12th. The company reported ($0.05) EPS for the quarter. The firm had revenue of $16.12 million during the quarter, compared to the consensus estimate of $17.76 million. PodcastOne had a negative net margin of 5.01% and a negative return on equity of 19.85%. As a group, equities research analysts anticipate that PodcastOne, Inc. will post -0.09 EPS for the current fiscal year.

Analyst Ratings Changes

A number of research firms recently commented on PODC. Weiss Ratings restated a “sell (d-)” rating on shares of PodcastOne in a research report on Wednesday, June 24th. Wall Street Zen cut PodcastOne from a “buy” rating to a “hold” rating in a research note on Saturday, June 27th. One equities research analyst has rated the stock with a Hold rating and one has given a Sell rating to the stock. According to MarketBeat, the stock presently has an average rating of “Reduce”.

Institutional Inflows and Outflows

Institutional investors and hedge funds have recently made changes to their positions in the stock. NewEdge Advisors LLC increased its position in shares of 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 acquiring an additional 55,473 shares in the last quarter. BlackRock Inc. bought a new stake in PodcastOne in the 2nd quarter valued at $280,000. Citadel Advisors LLC lifted its position in PodcastOne by 267.5% in the 3rd 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 in the last quarter. Creative Planning acquired a new position in PodcastOne in the 2nd quarter worth $49,000. Finally, Dimensional Fund Advisors LP acquired a new position in PodcastOne in the 1st quarter worth $30,000. Institutional investors and hedge funds own 2.87% of the company’s stock.

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.