PodcastOne (NASDAQ:PODC) Director D Jonathan Merriman Buys 6,100 Shares of Stock

PodcastOne, Inc. (NASDAQ:PODC) Director D Jonathan Merriman bought 6,100 shares of the business’s stock in a transaction dated Tuesday, December 16th. The shares were purchased at an average price of $2.08 per share, for a total transaction of $12,688.00. Following the transaction, the director directly owned 283,252 shares of the company’s stock, valued at approximately $589,164.16. This represents a 2.20% increase in their position. The purchase was disclosed in a filing with the SEC, which is available through this hyperlink.

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

• On Friday, December 5th, D Jonathan Merriman acquired 5,700 shares of PodcastOne stock. The shares were bought at an average cost of $2.16 per share, with a total value of $12,312.00.
• On Wednesday, November 26th, D Jonathan Merriman purchased 7,373 shares of PodcastOne stock. The shares were purchased at an average cost of $2.47 per share, with a total value of $18,211.31.
• On Wednesday, November 19th, D Jonathan Merriman purchased 11,000 shares of PodcastOne stock. The shares were purchased at an average cost of $2.20 per share, for a total transaction of $24,200.00.
• On Friday, November 14th, D Jonathan Merriman acquired 10,700 shares of PodcastOne stock. The shares were bought at an average price of $2.16 per share, with a total value of $23,112.00.

PodcastOne Stock Performance

Shares of PODC opened at $2.22 on Friday. The company has a market capitalization of $59.74 million, a price-to-earnings ratio of -11.25 and a beta of -0.11. The company’s 50 day simple moving average is $2.17 and its 200 day simple moving average is $1.96. PodcastOne, Inc. has a 1 year low of $1.28 and a 1 year high of $2.94.

PodcastOne (NASDAQ:PODC) last issued its earnings results on Wednesday, November 12th. The company reported ($0.04) EPS for the quarter, beating analysts’ consensus estimates of ($0.05) by $0.01. The business had revenue of $15.16 million for the quarter, compared to the consensus estimate of $14.26 million. PodcastOne had a negative net margin of 9.07% and a negative return on equity of 34.68%. Equities analysts expect that PodcastOne, Inc. will post -0.24 EPS for the current fiscal year.

Wall Street Analysts Forecast Growth

Several research analysts recently weighed in on PODC shares. Weiss Ratings reaffirmed a “sell (d-)” rating on shares of PodcastOne in a research note on Monday. Zacks Research upgraded PodcastOne from a “strong sell” rating to a “hold” rating in a research note on Friday, November 14th. One investment analyst has rated the stock with a Hold rating and one has issued a Sell rating to the company. According to MarketBeat, the company presently has an average rating of “Reduce”.

Institutional Investors Weigh In On PodcastOne

A number of institutional investors and hedge funds have recently modified their holdings of the business. Pingora Partners LLC boosted its holdings in PodcastOne by 122.3% during the first quarter. Pingora Partners LLC now owns 16,724 shares of the company’s stock worth $27,000 after buying an additional 9,200 shares during the last quarter. Thompson Davis & CO. Inc. bought a new position in shares of PodcastOne during the 2nd quarter valued at about $38,000. Creative Planning acquired a new stake in PodcastOne during the 2nd quarter worth approximately $49,000. Rockefeller Capital Management L.P. bought a new position in PodcastOne in the second quarter valued at approximately $316,000. Finally, Citadel Advisors LLC increased its position in shares of PodcastOne by 267.5% during the third quarter. Citadel Advisors LLC now owns 41,958 shares of the company’s stock worth $70,000 after acquiring an additional 30,541 shares in the last quarter. 2.87% of the stock is owned by institutional investors.

About PodcastOne

PodcastOne, Inc operates as a podcast platform and publisher. The company offers its content to audiences through podcasting distribution platforms, including its website, Apple Podcasts, Spotify, Amazon Music, and others. It also produces vodcasts, branded podcasts, merchandise, and live events. In addition, the company builds, owns, and operates LaunchPadOne, a self-publishing podcast platform.