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

PodcastOne, Inc. (NASDAQ:PODC) Director D Jonathan Merriman purchased 11,000 shares of the business’s stock in a transaction that occurred on Wednesday, November 19th. The stock was bought at an average cost of $2.20 per share, with a total value of $24,200.00. Following the acquisition, the director owned 264,079 shares of the company’s stock, valued at approximately $580,973.80. The trade was a 4.35% increase in their position. The purchase was disclosed in a filing with the Securities & Exchange Commission, which is available through this hyperlink.

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

• On Friday, November 14th, D Jonathan Merriman acquired 10,700 shares of PodcastOne stock. The shares were bought at an average cost of $2.16 per share, for a total transaction of $23,112.00.
• On Thursday, September 4th, D Jonathan Merriman bought 10,000 shares of PodcastOne stock. The stock was bought at an average cost of $1.58 per share, with a total value of $15,800.00.

PodcastOne Stock Performance

Shares of NASDAQ PODC traded up $0.21 during trading on Friday, hitting $2.36. 68,657 shares of the company were exchanged, compared to its average volume of 61,556. The company has a fifty day moving average price of $1.95 and a 200-day moving average price of $1.92. The firm has a market capitalization of $63.51 million, a PE ratio of -11.80 and a beta of -0.06. PodcastOne, Inc. has a 12-month low of $1.28 and a 12-month high of $2.94.

PodcastOne (NASDAQ:PODC) last released its quarterly earnings data on Wednesday, November 12th. The company reported ($0.04) earnings per share (EPS) for the quarter, topping the consensus estimate of ($0.05) by $0.01. PodcastOne had a negative net margin of 9.07% and a negative return on equity of 34.68%. The firm had revenue of $15.16 million during the quarter, compared to analysts’ expectations of $14.26 million. Research analysts anticipate that PodcastOne, Inc. will post -0.24 earnings per share for the current fiscal year.

Hedge Funds Weigh In On PodcastOne

A number of hedge funds have recently made changes to their positions in PODC. Thompson Davis & CO. Inc. acquired a new stake in PodcastOne in the 2nd quarter valued at approximately $38,000. XTX Topco Ltd purchased a new position in shares of PodcastOne during the first quarter worth $26,000. Pingora Partners LLC grew its stake in shares of PodcastOne by 122.3% in the first quarter. Pingora Partners LLC now owns 16,724 shares of the company’s stock valued at $27,000 after buying an additional 9,200 shares in the last quarter. Creative Planning purchased a new stake in shares of PodcastOne in the 2nd quarter valued at $49,000. Finally, Citadel Advisors LLC lifted its stake in 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 acquiring an additional 30,541 shares in the last quarter. Hedge funds and other institutional investors own 2.87% of the company’s stock.

Analyst Ratings Changes

Several analysts have recently commented on PODC shares. Zacks Research raised shares of PodcastOne from a “strong sell” rating to a “hold” rating in a research report on Friday, November 14th. Weiss Ratings restated a “sell (e+)” rating on shares of PodcastOne in a research report on Friday, October 31st. One investment analyst has rated the stock with a Hold rating and one has given a Sell rating to the stock. According to data from MarketBeat, the stock currently has a consensus rating of “Reduce”.

PodcastOne Company Profile

PodcastOne, Inc operates as a podcast platform and publisher. The company offers its content to audiences through podcasting distribution platforms, including its website, Apple Podcasts, Spotify, Amazon Music, and others. It also produces vodcasts, branded podcasts, merchandise, and live events. In addition, the company builds, owns, and operates LaunchPadOne, a self-publishing podcast platform.