D Jonathan Merriman Purchases 6,700 Shares of PodcastOne (NASDAQ:PODC) Stock

Key Points

• Director D. Jonathan Merriman bought 6,700 PodcastOne shares at an average price of $2.36, investing $15,812 and increasing his holdings to 368,132 shares. The purchase follows four other insider buys since August totaling 51,700 shares.
• PodcastOne shares rose 1.3% to $2.39, but the company reported a quarterly loss of $0.05 per share and revenue of $16.12 million, below analysts’ $17.76 million expectation.
• Analyst sentiment remains negative: Zacks Research and Wall Street Zen downgraded the stock to “strong sell” and “sell,” respectively, while the consensus rating is “Sell.”

PodcastOne, Inc. (NASDAQ:PODC - Get Free Report) Director D Merriman acquired 6,700 shares of the business's stock in a transaction on Friday, September 18th. The shares were bought at an average cost of $2.36 per share, with a total value of $15,812.00. Following the completion of the acquisition, the director owned 368,132 shares in the company, valued at approximately $868,791.52. This represents a 1.85% increase in their ownership of the stock. The transaction was disclosed in a document filed with the Securities & Exchange Commission, which is accessible through this hyperlink.

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

• On Wednesday, September 16th, D Merriman acquired 7,700 shares of PodcastOne stock. The shares were bought at an average price of $2.30 per share, for a total transaction of $17,710.00.
• On Friday, August 21st, D Merriman bought 15,700 shares of PodcastOne stock. The stock was bought at an average cost of $2.75 per share, for a total transaction of $43,175.00.
• On Monday, August 17th, D Merriman bought 11,300 shares of PodcastOne stock. The shares were bought at an average price of $2.80 per share, with a total value of $31,640.00.
• On Friday, August 14th, D Merriman bought 17,000 shares of PodcastOne stock. The shares were bought at an average cost of $3.20 per share, with a total value of $54,400.00.

PodcastOne Trading Up 1.3%

PODC traded up $0.03 during trading on Monday, hitting $2.39. 112,552 shares of the company traded hands, compared to its average volume of 117,301. The company has a market cap of $72.30 million, a PE ratio of -19.92 and a beta of 2.10. The stock's 50-day simple moving average is $3.13 and its two-hundred day simple moving average is $3.26. PodcastOne, Inc. has a 1 year low of $1.50 and a 1 year high of $5.20.

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

Analysts Set New Price Targets

A number of equities analysts recently commented on PODC shares. Zacks Research lowered PodcastOne from a "hold" rating to a "strong sell" rating in a research note on Wednesday, August 19th. Wall Street Zen downgraded 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 equities research analysts have rated the stock with a Sell rating, According to data from MarketBeat.com, the stock currently has a consensus rating of "Sell".

Institutional Trading of PodcastOne

A number of large investors have recently made changes to their positions in the business. Integrated Wealth Concepts LLC bought a new position in shares of PodcastOne in the 2nd quarter valued at about $32,000. Permanens Capital L.P. bought a new stake in PodcastOne during the second quarter worth approximately $45,000. BlackRock Inc. bought a new stake in PodcastOne during the second quarter worth approximately $280,000. NewEdge Advisors LLC raised its position in PodcastOne by 168.2% during the first 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. Finally, Dimensional Fund Advisors LP purchased a new stake in PodcastOne during the first quarter valued at approximately $30,000. 2.87% of the stock is currently owned by institutional investors.

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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