D Jonathan Merriman Acquires 7,700 Shares of PodcastOne (NASDAQ:PODC) Stock

Key Points

• Director D. Jonathan Merriman purchased 7,700 PodcastOne shares at an average price of $2.30, investing $17,710 and increasing his direct stake by 2.18% to 361,432 shares.
• PodcastOne shares rose 4.4% to $2.36, but remain below their 50-day and 200-day moving averages; the company reported a quarterly loss of $0.05 per share and revenue below analyst expectations.
• Analyst sentiment is negative: Zacks Research and Wall Street Zen downgraded the stock, while MarketBeat reports an average rating of “Sell.”

PodcastOne, Inc. (NASDAQ:PODC - Get Free Report) Director D Merriman bought 7,700 shares of the firm's stock in a transaction dated Wednesday, September 16th. The stock was purchased at an average price of $2.30 per share, with a total value of $17,710.00. Following the completion of the purchase, the director directly owned 361,432 shares of the company's stock, valued at approximately $831,293.60. This trade represents a 2.18% increase in their position. The acquisition was disclosed in a filing with the Securities & Exchange Commission, which is accessible through the SEC website.

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

• On Friday, August 21st, D Merriman purchased 15,700 shares of PodcastOne stock. The shares were purchased at an average cost of $2.75 per share, for a total transaction of $43,175.00.
• On Monday, August 17th, D Merriman acquired 11,300 shares of PodcastOne stock. The stock was purchased at an average price of $2.80 per share, for a total transaction of $31,640.00.
• On Friday, August 14th, D Merriman acquired 17,000 shares of PodcastOne stock. The stock was purchased at an average cost of $3.20 per share, with a total value of $54,400.00.

PodcastOne Stock Up 4.4%

Shares of PodcastOne stock traded up $0.10 during trading hours on Friday, hitting $2.36. 63,772 shares of the company's stock traded hands, compared to its average volume of 117,327. The stock has a 50 day simple moving average of $3.16 and a 200-day simple moving average of $3.27. The company has a market cap of $71.39 million, a PE ratio of -19.67 and a beta of 2.10. PodcastOne, Inc. has a twelve month low of $1.50 and a twelve month high of $5.20.

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

Hedge Funds Weigh In On PodcastOne

A number of hedge funds and other institutional investors have recently bought and sold shares 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 worth $180,000 after purchasing an additional 55,473 shares during the period. BlackRock Inc. acquired a new position in PodcastOne during the 2nd quarter valued at approximately $280,000. Dimensional Fund Advisors LP acquired a new position in PodcastOne during the 1st quarter valued at approximately $30,000. Permanens Capital L.P. bought a new position in PodcastOne during the 2nd quarter worth $45,000. Finally, Integrated Wealth Concepts LLC bought a new position in PodcastOne during the 2nd quarter worth $32,000. 2.87% of the stock is currently owned by institutional investors and hedge funds.

Analysts Set New Price Targets

PODC has been the subject of a number of research analyst reports. Zacks Research lowered shares of PodcastOne from a "hold" rating to a "strong sell" rating in a research note on Wednesday, August 19th. Wall Street Zen downgraded shares of PodcastOne from a "hold" rating to a "sell" rating in a research note on Saturday, August 22nd. Finally, Weiss Ratings reaffirmed a "sell (d-)" rating on shares of PodcastOne in a report on Wednesday, June 24th. Two analysts have rated the stock with a Sell rating, Based on data from MarketBeat, PodcastOne currently has an average rating of "Sell".

About PodcastOne

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.

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