D Jonathan Merriman Acquires 7,000 Shares of PodcastOne (NASDAQ:PODC) Stock

PodcastOne, Inc. (NASDAQ:PODC) Director D Jonathan Merriman acquired 7,000 shares of the business’s stock in a transaction dated Friday, May 22nd. The stock was acquired at an average price of $4.38 per share, for a total transaction of $30,660.00. Following the purchase, the director directly owned 309,732 shares of the company’s stock, valued at approximately $1,356,626.16. This trade represents a 2.31% increase in their ownership of the stock. The acquisition was disclosed in a document filed with the Securities & Exchange Commission, which can be accessed through the SEC website.

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

• On Friday, April 17th, D Jonathan Merriman acquired 10,200 shares of PodcastOne stock. The stock was acquired at an average price of $2.11 per share, for a total transaction of $21,522.00.
• On Monday, March 23rd, D Jonathan Merriman acquired 2,980 shares of PodcastOne stock. The stock was acquired at an average price of $2.35 per share, for a total transaction of $7,003.00.
• On Thursday, March 12th, D Jonathan Merriman acquired 6,300 shares of PodcastOne stock. The stock was acquired at an average price of $2.22 per share, for a total transaction of $13,986.00.

PodcastOne Price Performance

NASDAQ:PODC opened at $4.84 on Friday. The firm has a market capitalization of $133.05 million, a P/E ratio of -32.27 and a beta of 1.72. PodcastOne, Inc. has a 1-year low of $1.30 and a 1-year high of $5.20. The company’s fifty day moving average price is $3.00 and its 200-day moving average price is $2.64.

Wall Street Analyst Weigh In

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

Institutional Trading of PodcastOne

Hedge funds and other institutional investors have recently added to or reduced their stakes in the company. Dimensional Fund Advisors LP acquired a new stake in PodcastOne during the first quarter valued at $30,000. Creative Planning acquired a new stake in PodcastOne during the second quarter valued at $49,000. Citadel Advisors LLC grew its position 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 during the period. Finally, NewEdge Advisors LLC acquired a new stake in PodcastOne during the fourth quarter valued at $81,000. 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.