PodcastOne (NASDAQ:PODC) Director Buys $12,688.00 in Stock

PodcastOne, Inc. (NASDAQ:PODC) Director D Jonathan Merriman bought 6,100 shares of the firm’s stock in a transaction on Tuesday, December 16th. The stock was purchased at an average cost of $2.08 per share, with a total value of $12,688.00. Following the completion of the acquisition, the director directly owned 283,252 shares of the company’s stock, valued at approximately $589,164.16. The trade was a 2.20% increase in their position. The transaction was disclosed in a filing with the SEC, which can be accessed through this link.

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

• On Friday, December 5th, D Jonathan Merriman purchased 5,700 shares of PodcastOne stock. The shares were purchased at an average price of $2.16 per share, for a total transaction of $12,312.00.
• On Wednesday, November 26th, D Jonathan Merriman acquired 7,373 shares of PodcastOne stock. The stock was purchased at an average price of $2.47 per share, with a total value of $18,211.31.
• On Wednesday, November 19th, D Jonathan Merriman acquired 11,000 shares of PodcastOne stock. The stock was acquired at an average cost of $2.20 per share, for a total transaction of $24,200.00.
• On Friday, November 14th, D Jonathan Merriman bought 10,700 shares of PodcastOne stock. The shares were acquired at an average price of $2.16 per share, for a total transaction of $23,112.00.

PodcastOne Stock Performance

Shares of PODC stock traded up $0.12 during mid-day trading on Thursday, hitting $2.25. The company’s stock had a trading volume of 20,401 shares, compared to its average volume of 51,756. PodcastOne, Inc. has a 52-week low of $1.28 and a 52-week high of $2.94. The business has a 50-day moving average price of $2.15 and a 200 day moving average price of $1.96. The stock has a market cap of $60.55 million, a price-to-earnings ratio of -11.25 and a beta of -0.11.

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

Analysts Set New Price Targets

Several research analysts have recently weighed in on PODC shares. Weiss Ratings reissued a “sell (d-)” rating on shares of PodcastOne in a report on Monday. Zacks Research upgraded shares of PodcastOne from a “strong sell” rating to a “hold” rating in a research note on Friday, November 14th. One investment analyst has rated the stock with a Hold rating and one has given a Sell rating to the stock. According to MarketBeat, the stock has an average rating of “Reduce”.

Hedge Funds Weigh In On PodcastOne

Several institutional investors and hedge funds have recently bought and sold shares of the stock. Pingora Partners LLC increased its position in PodcastOne by 122.3% in the first quarter. Pingora Partners LLC now owns 16,724 shares of the company’s stock worth $27,000 after buying an additional 9,200 shares in the last quarter. Thompson Davis & CO. Inc. bought a new position in shares of PodcastOne during the 2nd quarter valued at approximately $38,000. Creative Planning purchased a new stake in PodcastOne in the 2nd quarter worth approximately $49,000. Rockefeller Capital Management L.P. bought a new stake in PodcastOne during the 2nd quarter worth approximately $316,000. Finally, Citadel Advisors LLC lifted its holdings in PodcastOne by 267.5% during the third quarter. Citadel Advisors LLC now owns 41,958 shares of the company’s stock valued at $70,000 after purchasing an additional 30,541 shares in the last quarter. 2.87% of the stock is currently owned by hedge funds and other institutional investors.

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.