Insider Buying: PodcastOne (NASDAQ:PODC) Director Acquires $54,400.00 in Stock

Key Points

• Director D. Jonathan Merriman bought 17,000 PodcastOne shares at an average price of $3.20, investing $54,400 and increasing his ownership by 5.49% to 326,732 shares. He also purchased 11,300 shares on August 17 and 7,000 shares in May.
• PodcastOne shares recently traded at $2.83, below their 50-day moving average of $3.92 but above the 12-month low of $1.30. The company has an $85.47 million market capitalization and a beta of 2.15.
• The company reported a quarterly loss of $0.05 per share and revenue of $16.12 million, below analysts’ $17.76 million estimate. Analysts’ consensus rating is “Reduce,” with one Hold and one Sell rating.

PodcastOne, Inc. (NASDAQ:PODC - Get Free Report) Director D Jonathan Merriman purchased 17,000 shares of the firm's stock in a transaction that occurred on Friday, August 14th. The shares were acquired at an average price of $3.20 per share, for a total transaction of $54,400.00. Following the completion of the transaction, the director owned 326,732 shares in the company, valued at $1,045,542.40. The trade was a 5.49% increase in their ownership of the stock. The purchase was disclosed in a document filed with the SEC, which is available at 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 shares were acquired at an average cost of $2.80 per share, with a total value of $31,640.00.
• On Friday, May 22nd, D Jonathan Merriman acquired 7,000 shares of PodcastOne stock. The stock was acquired at an average price of $4.38 per share, with a total value of $30,660.00.

PodcastOne Stock Performance

PodcastOne stock traded down $0.34 on Monday, reaching $2.83. The company's stock had a trading volume of 192,024 shares, compared to its average volume of 123,641. The business's fifty day moving average price is $3.92 and its 200 day moving average price is $3.28. The company has a market cap of $85.47 million, a price-to-earnings ratio of -23.58 and a beta of 2.15. PodcastOne, Inc. has a twelve month low of $1.30 and a twelve month high of $5.20.

PodcastOne (NASDAQ:PODC - Get Free Report) last announced its earnings results on Wednesday, August 12th. The company reported ($0.05) earnings per share for the quarter. PodcastOne had a negative net margin of 5.01% and a negative return on equity of 19.85%. The business had revenue of $16.12 million during the quarter, compared to analyst estimates of $17.76 million. As a group, equities analysts forecast that PodcastOne, Inc. will post -0.09 earnings per share for the current year.

Institutional Inflows and Outflows

A number of large investors have recently added to or reduced their stakes in the business. BlackRock Inc. acquired a new position in PodcastOne in the second quarter valued at approximately $280,000. 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 acquiring an additional 55,473 shares during the last quarter. Citadel Advisors LLC lifted its stake in shares of 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 purchasing an additional 30,541 shares during the period. Creative Planning bought a new position in shares of PodcastOne in the 2nd quarter worth $49,000. Finally, Dimensional Fund Advisors LP acquired a new stake in shares of PodcastOne during the first quarter worth $30,000. 2.87% of the stock is currently owned by institutional investors and hedge funds.

Wall Street Analyst Weigh In

PODC has been the subject of a number of research reports. Wall Street Zen lowered shares of PodcastOne from a "buy" rating to a "hold" rating in a report on Saturday, June 27th. Weiss Ratings reiterated a "sell (d-)" rating on shares of PodcastOne in a research report on Wednesday, June 24th. One equities research analyst has rated the stock with a Hold rating and one has issued a Sell rating to the company's stock. According to data from MarketBeat.com, the company currently has a consensus rating of "Reduce".

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.

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