PodcastOne (NASDAQ:PODC) Stock: Insider D Jonathan Merriman Purchases 11,000 Shares

Key Points

• Director D. Jonathan Merriman bought 11,000 PodcastOne shares at an average price of $2.21, increasing his direct ownership to 379,132 shares. He has made several additional purchases since August.
• PodcastOne shares recently traded at $2.07, well below their 50-day and 200-day moving averages, with a market capitalization of approximately $62.6 million.
• The company reported a quarterly loss of $0.05 per share and revenue of $16.12 million, below analyst estimates. Analysts have a consensus “Sell” rating, while institutional investors own just 2.87% of the stock.

PodcastOne, Inc. (NASDAQ:PODC - Get Free Report) Director D Merriman purchased 11,000 shares of PodcastOne stock in a transaction on Thursday, September 24th. The stock was bought at an average cost of $2.21 per share, with a total value of $24,310.00. Following the transaction, the director directly owned 379,132 shares of the company's stock, valued at approximately $837,881.72. The trade was a 2.99% increase in their ownership of the stock. The acquisition was disclosed in a legal filing with the SEC, which can be accessed through this link.

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

• On Friday, September 18th, D Merriman purchased 6,700 shares of PodcastOne stock. The shares were purchased at an average price of $2.36 per share, with a total value of $15,812.00.
• On Wednesday, September 16th, D Merriman acquired 7,700 shares of PodcastOne stock. The shares were acquired at an average cost of $2.30 per share, with a total value of $17,710.00.
• On Friday, August 21st, D Merriman bought 15,700 shares of PodcastOne stock. The shares were acquired at an average price of $2.75 per share, with a total value of $43,175.00.
• On Monday, August 17th, D Merriman bought 11,300 shares of PodcastOne stock. The stock was acquired at an average cost of $2.80 per share, for a total transaction of $31,640.00.
• On Friday, August 14th, D Merriman purchased 17,000 shares of PodcastOne stock. The stock was acquired at an average cost of $3.20 per share, for a total transaction of $54,400.00.

PodcastOne Stock Performance

Shares of PODC traded down $0.13 during mid-day trading on Monday, hitting $2.07. The company's stock had a trading volume of 67,152 shares, compared to its average volume of 116,616. The stock's 50-day moving average is $2.94 and its two-hundred day moving average is $3.26. The firm has a market capitalization of $62.62 million, a PE ratio of -17.25 and a beta of 2.10. PodcastOne, Inc. has a one year low of $1.50 and a one year high of $5.20.

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

Analyst Upgrades and Downgrades

PODC has been the topic of several research reports. 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 report on Saturday, August 22nd. Finally, Weiss Ratings reiterated a "sell (d-)" rating on shares of PodcastOne in a research report on Monday, September 21st. Two analysts have rated the stock with a Sell rating, According to data from MarketBeat.com, PodcastOne presently has a consensus rating of "Sell".

Hedge Funds Weigh In On PodcastOne

A number of hedge funds have recently made changes to their positions in PODC. Integrated Wealth Concepts LLC bought a new position in shares of PodcastOne during the 2nd quarter worth about $32,000. Permanens Capital L.P. bought a new stake in PodcastOne in the second quarter valued at about $45,000. BlackRock Inc. acquired a new position in PodcastOne in the second quarter worth about $280,000. NewEdge Advisors LLC raised its position in PodcastOne by 168.2% in the first quarter. NewEdge Advisors LLC now owns 88,455 shares of the company's stock worth $180,000 after purchasing an additional 55,473 shares in the last quarter. Finally, Dimensional Fund Advisors LP bought a new position in PodcastOne during the first quarter worth about $30,000. Institutional investors and hedge funds own 2.87% of the company's stock.

PodcastOne Company Profile

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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