PodcastOne (NASDAQ:PODC) Director Acquires $13,986.00 in Stock

PodcastOne, Inc. (NASDAQ:PODC) Director D Jonathan Merriman acquired 6,300 shares of PodcastOne stock in a transaction dated Thursday, March 12th. The shares were bought at an average cost of $2.22 per share, for a total transaction of $13,986.00. Following the completion of the purchase, the director directly owned 289,552 shares of the company’s stock, valued at approximately $642,805.44. The trade was a 2.22% increase in their position. The transaction was disclosed in a legal filing with the Securities & Exchange Commission, which is available at the SEC website.

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

• On Tuesday, December 16th, D Jonathan Merriman acquired 6,100 shares of PodcastOne stock. The stock was bought at an average price of $2.08 per share, for a total transaction of $12,688.00.

PodcastOne Trading Down 5.6%

PODC opened at $2.37 on Thursday. PodcastOne, Inc. has a 12 month low of $1.28 and a 12 month high of $3.35. The business’s 50-day moving average price is $2.59 and its 200-day moving average price is $2.23. The company has a market cap of $64.37 million, a P/E ratio of -15.80 and a beta of 0.01.

PodcastOne (NASDAQ:PODC) last issued its earnings results on Thursday, February 12th. The company reported ($0.01) earnings per share for the quarter, beating the consensus estimate of ($0.02) by $0.01. PodcastOne had a negative return on equity of 24.78% and a negative net margin of 6.22%.The company had revenue of $15.86 million during the quarter, compared to analysts’ expectations of $15.03 million. Equities research analysts forecast that PodcastOne, Inc. will post -0.24 earnings per share for the current fiscal year.

Wall Street Analyst Weigh In

Separately, Weiss Ratings restated a “sell (d-)” rating on shares of PodcastOne in a report on Monday, December 29th. One investment analyst has rated the stock with a Hold rating and one has given a Sell rating to the company. According to data from MarketBeat, the company currently has a consensus rating of “Reduce”.

Institutional Trading of PodcastOne

A number of institutional investors have recently modified their holdings of PODC. NewEdge Advisors LLC bought a new stake in shares of PodcastOne in the fourth quarter worth about $81,000. Citadel Advisors LLC raised its position in PodcastOne by 267.5% during the 3rd 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 during the last quarter. Rockefeller Capital Management L.P. purchased a new stake in PodcastOne in the 2nd quarter worth approximately $316,000. Finally, Creative Planning purchased a new stake in PodcastOne in the 2nd quarter worth approximately $49,000. 2.87% of the stock is currently owned by hedge funds and other institutional investors.

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.