Insider Buying: PodcastOne (NASDAQ:PODC) Director Purchases $31,640.00 in Stock

PodcastOne, Inc. (NASDAQ:PODC) Director D Jonathan Merriman purchased 11,300 shares of the business’s stock in a transaction on Monday, August 17th. The shares were purchased at an average price of $2.80 per share, with a total value of $31,640.00. Following the completion of the purchase, the director owned 338,032 shares in the company, valued at approximately $946,489.60. This trade represents a 3.46% increase in their ownership of the stock. The transaction was disclosed in a legal filing with the Securities & Exchange Commission, which can be accessed through the SEC website.

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

• On Friday, August 14th, D Jonathan Merriman acquired 17,000 shares of PodcastOne stock. The stock was acquired at an average price of $3.20 per share, for a total transaction of $54,400.00.
• On Friday, May 22nd, D Jonathan Merriman acquired 7,000 shares of PodcastOne stock. The stock was acquired at an average cost of $4.38 per share, for a total transaction of $30,660.00.

PodcastOne Trading Down 10.7%

NASDAQ PODC traded down $0.34 during trading hours on Monday, hitting $2.83. 192,024 shares of the company’s stock traded hands, compared to its average volume of 123,641. The business’s fifty day moving average price is $3.92 and its two-hundred day moving average price is $3.28. The firm has a market capitalization of $85.47 million, a P/E ratio of -23.58 and a beta of 2.15. PodcastOne, Inc. has a 52 week low of $1.30 and a 52 week high of $5.20.

PodcastOne (NASDAQ:PODC) last released its quarterly earnings results on Wednesday, August 12th. The company reported ($0.05) earnings per share for the quarter. The business had revenue of $16.12 million during the quarter, compared to the consensus estimate of $17.76 million. PodcastOne had a negative return on equity of 19.85% and a negative net margin of 5.01%. On average, sell-side analysts expect that PodcastOne, Inc. will post -0.09 EPS for the current fiscal year.

Analysts Set New Price Targets

PODC has been the topic of several analyst reports. Wall Street Zen downgraded PodcastOne from a “buy” rating to a “hold” rating in a research report on Saturday, June 27th. Weiss Ratings restated a “sell (d-)” rating on shares of PodcastOne in a research report on Wednesday, June 24th. One investment analyst has rated the stock with a Hold rating and one has assigned a Sell rating to the company. According to data from MarketBeat.com, PodcastOne presently has a consensus rating of “Reduce”.

Hedge Funds Weigh In On PodcastOne

A number of hedge funds have recently modified their holdings of PODC. NewEdge Advisors LLC raised its position in shares of 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 purchasing an additional 55,473 shares during the period. BlackRock Inc. bought a new position in PodcastOne in the 2nd quarter worth $280,000. Citadel Advisors LLC increased its stake in PodcastOne by 267.5% in the 3rd quarter. Citadel Advisors LLC now owns 41,958 shares of the company’s stock worth $70,000 after buying an additional 30,541 shares in the last quarter. Creative Planning purchased a new stake in PodcastOne in the 2nd quarter worth $49,000. Finally, Dimensional Fund Advisors LP bought a new stake in PodcastOne during the first quarter valued at about $30,000. 2.87% of the stock is currently owned by institutional investors.

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.