D Jonathan Merriman Purchases 6,700 Shares of PodcastOne (NASDAQ:PODC) Stock

PodcastOne, Inc. (NASDAQ:PODC) Director D Merriman purchased 6,700 shares of the firm’s stock in a transaction that occurred on Friday, September 18th. The shares were bought at an average price of $2.36 per share, for a total transaction of $15,812.00. Following the acquisition, the director directly owned 368,132 shares in the company, valued at $868,791.52. This trade represents a 1.85% increase in their position. The acquisition was disclosed in a legal filing with the SEC, which is available at this link.

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

• On Wednesday, September 16th, D Merriman acquired 7,700 shares of PodcastOne stock. The shares were purchased at an average cost of $2.30 per share, with a total value of $17,710.00.
• On Friday, August 21st, D Merriman acquired 15,700 shares of PodcastOne stock. The shares were purchased at an average price of $2.75 per share, for a total transaction of $43,175.00.
• On Monday, August 17th, D Merriman bought 11,300 shares of PodcastOne stock. The stock was purchased at an average cost of $2.80 per share, for a total transaction of $31,640.00.
• On Friday, August 14th, D Merriman bought 17,000 shares of PodcastOne stock. The stock was purchased at an average price of $3.20 per share, with a total value of $54,400.00.

PodcastOne Trading Up 1.3%

Shares of PODC stock traded up $0.03 during trading hours on Monday, reaching $2.39. 112,552 shares of the stock were exchanged, compared to its average volume of 117,301. PodcastOne, Inc. has a 12-month low of $1.50 and a 12-month high of $5.20. The company’s 50-day moving average price is $3.13 and its 200-day moving average price is $3.26. The firm has a market capitalization of $72.30 million, a price-to-earnings ratio of -19.92 and a beta of 2.10.

PodcastOne (NASDAQ:PODC) last posted its quarterly earnings data on Wednesday, August 12th. The company reported ($0.05) earnings per share for the quarter. PodcastOne had a negative return on equity of 17.56% and a negative net margin of 5.01%.The firm had revenue of $16.12 million during the quarter, compared to analysts’ expectations of $17.76 million. On average, sell-side analysts expect that PodcastOne, Inc. will post -0.12 EPS for the current year.

Analysts Set New Price Targets

Several equities research analysts have recently weighed in on the company. Zacks Research downgraded PodcastOne from a “hold” rating to a “strong sell” rating in a report on Wednesday, August 19th. Wall Street Zen downgraded PodcastOne from a “hold” rating to a “sell” rating in a research report on Saturday, August 22nd. Finally, Weiss Ratings reiterated a “sell (d-)” rating on shares of PodcastOne in a research note on Wednesday, June 24th. Two equities research analysts have rated the stock with a Sell rating, According to MarketBeat, PodcastOne presently has a consensus rating of “Sell”.

Institutional Investors Weigh In On PodcastOne

Several hedge funds have recently modified their holdings of the business. Integrated Wealth Concepts LLC bought a new position in shares of PodcastOne during the second quarter valued at approximately $32,000. Permanens Capital L.P. bought a new position in PodcastOne in the second quarter worth approximately $45,000. Dimensional Fund Advisors LP bought a new position in PodcastOne in the first quarter worth approximately $30,000. BlackRock Inc. purchased a new stake in PodcastOne during the second quarter worth $280,000. Finally, NewEdge Advisors LLC boosted its position in PodcastOne by 168.2% during the 1st quarter. NewEdge Advisors LLC now owns 88,455 shares of the company’s stock valued at $180,000 after acquiring an additional 55,473 shares in the last quarter. Hedge funds and other institutional investors own 2.87% of the company’s stock.

About PodcastOne

PodcastOne is a digital media and podcasting company that operates a podcast network and provides services for podcast creators, advertisers and audiences. Its business includes podcast production, distribution, hosting, audience development and advertising sales, with programming spanning news, entertainment, sports, comedy, business and lifestyle topics.

The company also offers podcast-related technology and analytics designed to help creators manage and grow their shows, while giving advertisers opportunities to reach targeted audiences through audio and other digital media.