Insider Buying: PodcastOne (NASDAQ:PODC) Insider Acquires 4,500 Shares of Stock

Key Points

• Insider purchase: Director Ryan Carhart bought 4,500 shares on April 17 at $2.24 each (total $10,080), boosting his stake by 68.59% to 11,061 shares valued at about $24,776.64.
• Recent results: PodcastOne beat quarterly estimates with EPS of ($0.01) versus ($0.02) and revenue of $15.86M, but remains unprofitable with a negative net margin (-6.22%) and negative ROE (-24.78%), and analysts project a full-year EPS of about -$0.11.
• Market and sentiment: The stock traded near $2.70 with a $74.22M market cap and a negative P/E, has a 12-month range of $1.30–$3.35, limited institutional ownership (~2.87%), and carries an average analyst rating of "Reduce" (Weiss Ratings: sell/d-).

PodcastOne, Inc. (NASDAQ:PODC - Get Free Report) insider Ryan Carhart acquired 4,500 shares of the stock in a transaction that occurred on Friday, April 17th. The shares were bought at an average price of $2.24 per share, for a total transaction of $10,080.00. Following the transaction, the insider owned 11,061 shares of the company's stock, valued at $24,776.64. This trade represents a 68.59% increase in their ownership of the stock. The acquisition was disclosed in a document filed with the SEC, which is available through this hyperlink.

PodcastOne Price Performance

PodcastOne stock remained flat at $2.70 during midday trading on Tuesday. 56,529 shares of the company were exchanged, compared to its average volume of 115,095. The stock has a market cap of $74.22 million, a price-to-earnings ratio of -18.00 and a beta of 0.48. The company's 50 day simple moving average is $2.39 and its 200 day simple moving average is $2.32. PodcastOne, Inc. has a 12 month low of $1.30 and a 12 month high of $3.35.

PodcastOne (NASDAQ:PODC - Get Free Report) last issued its quarterly earnings data on Thursday, February 12th. The company reported ($0.01) earnings per share for the quarter, beating analysts' consensus estimates of ($0.02) by $0.01. The company had revenue of $15.86 million for the quarter, compared to the consensus estimate of $15.03 million. PodcastOne had a negative net margin of 6.22% and a negative return on equity of 24.78%. Sell-side analysts forecast that PodcastOne, Inc. will post -0.11 earnings per share for the current fiscal year.

Institutional Inflows and Outflows

Institutional investors have recently added to or reduced their stakes in the business. NewEdge Advisors LLC bought a new position in PodcastOne in the fourth quarter worth approximately $81,000. Citadel Advisors LLC raised its position in PodcastOne by 267.5% in 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 during the period. Finally, Creative Planning bought a new position in PodcastOne in the second quarter worth approximately $49,000. 2.87% of the stock is currently owned by institutional investors.

Analyst Upgrades and Downgrades

Separately, Weiss Ratings reiterated a "sell (d-)" rating on shares of PodcastOne in a research report on Friday, March 27th. 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, PodcastOne has an average rating of "Reduce".

About PodcastOne

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.

This instant news alert was generated by narrative science technology and financial data from MarketBeat in order to provide readers with the fastest reporting and unbiased coverage. Please send any questions or comments about this story to contact@marketbeat.com.