Insider Buying: PodcastOne (NASDAQ:PODC) Director Purchases $24,310.00 in Stock

PodcastOne, Inc. (NASDAQ:PODC) Director D Merriman acquired 11,000 shares of PodcastOne stock in a transaction dated Thursday, September 24th. The stock was bought at an average price of $2.21 per share, with a total value of $24,310.00. Following the completion of the purchase, the director directly owned 379,132 shares in the company, valued at $837,881.72. This represents a 2.99% increase in their ownership of the stock. The purchase was disclosed in a filing with the SEC, which is available through the SEC website.

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

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

PodcastOne Stock Up 12.7%

PODC stock opened at $2.31 on Thursday. The business’s 50-day moving average price is $2.83 and its 200-day moving average price is $3.26. The stock has a market cap of $69.88 million, a P/E ratio of -19.25 and a beta of 2.10. PodcastOne, Inc. has a twelve month low of $1.50 and a twelve month high of $5.20.

PodcastOne (NASDAQ:PODC) last released its earnings results on Wednesday, August 12th. The company reported ($0.05) earnings per share (EPS) for the quarter. PodcastOne had a negative return on equity of 17.56% and a negative net margin of 5.01%.The firm had revenue of $16.12 million during the quarter, compared to analysts’ expectations of $17.76 million. On average, equities research analysts expect that PodcastOne, Inc. will post -0.12 earnings per share for the current fiscal year.

Analyst Upgrades and Downgrades

A number of research firms recently weighed in on PODC. Weiss Ratings restated a “sell (d-)” rating on shares of PodcastOne in a research note on Monday, September 21st. Wall Street Zen cut PodcastOne from a “hold” rating to a “sell” rating in a report on Saturday, August 22nd. Finally, Zacks Research downgraded PodcastOne from a “hold” rating to a “strong sell” rating in a research report on Wednesday, August 19th. Two research analysts have rated the stock with a Sell rating, According to MarketBeat.com, the company has an average rating of “Sell”.

Hedge Funds Weigh In On PodcastOne

A number of hedge funds and other institutional investors have recently modified their holdings of the stock. Dimensional Fund Advisors LP bought a new stake in PodcastOne in the 1st quarter valued at $30,000. Integrated Wealth Concepts LLC purchased a new stake in PodcastOne in the 2nd quarter worth $32,000. Permanens Capital L.P. bought a new position in shares of PodcastOne during the 2nd quarter valued at about $45,000. NewEdge Advisors LLC boosted its holdings in shares of PodcastOne by 168.2% during the 1st quarter. NewEdge Advisors LLC now owns 88,455 shares of the company’s stock valued at $180,000 after purchasing an additional 55,473 shares during the last quarter. Finally, BlackRock Inc. purchased a new position in shares of PodcastOne during the second quarter valued at about $280,000. Institutional investors own 2.87% of the company’s stock.

About PodcastOne

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.