Ryan Carhart Acquires 4,500 Shares of PodcastOne (NASDAQ:PODC) Stock

PodcastOne, Inc. (NASDAQ:PODC) insider Ryan Carhart purchased 4,500 shares of the stock in a transaction dated Friday, April 17th. The shares were acquired at an average cost of $2.24 per share, for a total transaction of $10,080.00. Following the completion of the acquisition, the insider directly owned 11,061 shares of the company’s stock, valued at approximately $24,776.64. This trade represents a 68.59% increase in their position. The purchase was disclosed in a document filed with the SEC, which is available through this link.

PodcastOne Stock Performance

Shares of PODC opened at $2.77 on Thursday. The firm has a market capitalization of $76.14 million, a price-to-earnings ratio of -18.47 and a beta of 0.48. PodcastOne, Inc. has a one year low of $1.30 and a one year high of $3.35. The stock’s fifty day moving average is $2.38 and its 200-day moving average is $2.33.

PodcastOne (NASDAQ:PODC) last issued its quarterly earnings results on Thursday, February 12th. The company reported ($0.01) EPS for the quarter, beating analysts’ consensus estimates of ($0.02) by $0.01. The company had revenue of $15.86 million for the quarter, compared to analyst estimates of $15.03 million. PodcastOne had a negative return on equity of 24.78% and a negative net margin of 6.22%. Analysts forecast that PodcastOne, Inc. will post -0.11 EPS for the current fiscal year.

Institutional Inflows and Outflows

Large investors have recently bought and sold shares of the company. NewEdge Advisors LLC bought a new position in PodcastOne during the fourth quarter valued at about $81,000. Citadel Advisors LLC boosted its stake 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 buying an additional 30,541 shares in the last quarter. Finally, Creative Planning bought a new position in PodcastOne during the second quarter valued at about $49,000. Institutional investors own 2.87% of the company’s stock.

Analyst Ratings Changes

Separately, Weiss Ratings reaffirmed a “sell (d-)” rating on shares of PodcastOne in a research note on Friday, March 27th. One investment analyst has rated the stock with a Hold rating and one has issued a Sell rating to the stock. According to MarketBeat.com, the stock presently has a consensus rating of “Reduce”.

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.