PodcastOne (NASDAQ:PODC) Director Buys $43,175.00 in Stock

Key Points

• Director D. Jonathan Merriman purchased 15,700 PodcastOne shares at an average price of $2.75, investing $43,175 and increasing his ownership by 4.64% to 353,732 shares. This followed two additional purchases earlier in August totaling $86,040.
• PodcastOne shares opened at $2.65 and have fallen 1.9%, while the company reported a quarterly loss of $0.05 per share and revenue of $16.12 million, below the $17.76 million consensus estimate.
• Analyst sentiment remains negative: Weiss Ratings, Zacks Research and Wall Street Zen all rate the stock negatively, producing a consensus “Sell” rating. Institutional investors own just 2.87% of the company.

PodcastOne, Inc. (NASDAQ:PODC - Get Free Report) Director D Jonathan Merriman purchased 15,700 shares of the firm's stock in a transaction on Friday, August 21st. The stock was bought at an average price of $2.75 per share, with a total value of $43,175.00. Following the completion of the purchase, the director owned 353,732 shares of the company's stock, valued at approximately $972,763. This represents a 4.64% increase in their ownership of the stock. The acquisition was disclosed in a filing with the Securities & Exchange Commission, which is available through this link.

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 bought at an average cost of $2.80 per share, for a total transaction of $31,640.00.
• On Friday, August 14th, D Jonathan Merriman acquired 17,000 shares of PodcastOne stock. The shares were bought at an average price of $3.20 per share, for a total transaction of $54,400.00.

PodcastOne Trading Down 1.9%

NASDAQ PODC opened at $2.65 on Tuesday. The company has a market cap of $80.16 million, a PE ratio of -22.08 and a beta of 2.15. PodcastOne, Inc. has a 12 month low of $1.30 and a 12 month high of $5.20. The stock has a 50 day moving average of $3.74 and a 200-day moving average of $3.28.

PodcastOne (NASDAQ:PODC - Get Free Report) last released 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 17.56%. The firm had revenue of $16.12 million during the quarter, compared to the consensus estimate of $17.76 million. As a group, sell-side analysts predict that PodcastOne, Inc. will post -0.12 EPS for the current fiscal year.

Analysts Set New Price Targets

Several analysts recently weighed in on PODC shares. Weiss Ratings reissued a "sell (d-)" rating on shares of PodcastOne in a report on Wednesday, June 24th. Zacks Research lowered shares of PodcastOne from a "hold" rating to a "strong sell" rating in a research report on Wednesday, August 19th. Finally, Wall Street Zen downgraded PodcastOne from a "hold" rating to a "sell" rating in a research note on Saturday. Two investment analysts have rated the stock with a Sell rating, According to MarketBeat.com, the stock has a consensus rating of "Sell".

Institutional Investors Weigh In On PodcastOne

Several large investors have recently added to or reduced their stakes in PODC. Permanens Capital L.P. purchased a new position in shares of PodcastOne during the second quarter valued at approximately $45,000. BlackRock Inc. purchased a new stake in shares of PodcastOne during the 2nd quarter valued at $280,000. NewEdge Advisors LLC boosted its holdings in shares of PodcastOne by 168.2% in the 1st quarter. NewEdge Advisors LLC now owns 88,455 shares of the company's stock worth $180,000 after buying an additional 55,473 shares during the last quarter. Dimensional Fund Advisors LP bought a new stake in PodcastOne in the first quarter worth about $30,000. Finally, Citadel Advisors LLC increased its stake in shares of PodcastOne by 267.5% during the 3rd quarter. Citadel Advisors LLC now owns 41,958 shares of the company's stock worth $70,000 after purchasing an additional 30,541 shares during the last quarter. Institutional investors and hedge funds own 2.87% of the company's stock.

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.

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