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

PodcastOne, Inc. (NASDAQ:PODC) Director D Merriman purchased 7,000 shares of the firm’s stock in a transaction on Wednesday, September 30th. The stock was acquired at an average price of $2.21 per share, for a total transaction of $15,470.00. Following the completion of the transaction, the director directly owned 386,132 shares of the company’s stock, valued at approximately $853,351.72. This trade represents a 1.85% increase in their position. The acquisition was disclosed in a legal filing with the SEC, which can be accessed through the SEC website.

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

• On Thursday, September 24th, D Merriman purchased 11,000 shares of PodcastOne stock. The shares were acquired at an average price of $2.21 per share, for a total transaction of $24,310.00.
• On Friday, September 18th, D Merriman acquired 6,700 shares of PodcastOne stock. The shares were acquired at an average cost of $2.36 per share, with a total value of $15,812.00.
• On Wednesday, September 16th, D Merriman acquired 7,700 shares of PodcastOne stock. The stock was bought at an average price of $2.30 per share, with a total value of $17,710.00.
• On Friday, August 21st, D Merriman bought 15,700 shares of PodcastOne stock. The stock was bought at an average cost 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 bought 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 shares were bought at an average price of $3.20 per share, for a total transaction of $54,400.00.

PodcastOne Stock Performance

NASDAQ:PODC remained flat at $2.31 during mid-day trading on Thursday. The company’s stock had a trading volume of 50,762 shares, compared to its average volume of 116,296. The company has a 50 day moving average of $2.83 and a two-hundred day moving average of $3.26. PodcastOne, Inc. has a twelve month low of $1.50 and a twelve month high of $5.20. The company has a market cap of $69.88 million, a price-to-earnings ratio of -19.25 and a beta of 2.10.

PodcastOne (NASDAQ:PODC) last issued its quarterly earnings results on Wednesday, August 12th. The company reported ($0.05) EPS for the quarter. PodcastOne had a negative return on equity of 17.56% and a negative net margin of 5.01%.The company had revenue of $16.12 million during the quarter, compared to analysts’ expectations of $17.76 million. As a group, equities research analysts expect that PodcastOne, Inc. will post -0.12 EPS for the current fiscal year.

Wall Street Analyst Weigh In

A number of research analysts recently weighed in on PODC shares. Zacks Research cut shares of PodcastOne from a “hold” rating to a “strong sell” rating in a research note on Wednesday, August 19th. Weiss Ratings reiterated a “sell (d-)” rating on shares of PodcastOne in a research note on Monday, September 21st. Finally, Wall Street Zen cut PodcastOne from a “hold” rating to a “sell” rating in a report on Saturday, August 22nd. Two analysts have rated the stock with a Sell rating, Based on data from MarketBeat.com, the company currently has a consensus rating of “Sell”.

Institutional Investors Weigh In On PodcastOne

A number of institutional investors have recently added to or reduced their stakes in the stock. Integrated Wealth Concepts LLC purchased a new stake in PodcastOne during the 2nd quarter valued at approximately $32,000. Permanens Capital L.P. purchased a new position in shares of PodcastOne in the second quarter worth $45,000. BlackRock Inc. bought a new position in shares of PodcastOne during the second quarter worth $280,000. NewEdge Advisors LLC boosted 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 during the last quarter. Finally, Dimensional Fund Advisors LP purchased a new position in PodcastOne during the first quarter valued at $30,000. 2.87% of the stock is owned by hedge funds and other institutional investors.

PodcastOne Company Profile

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.