Key Points
- Director D Jonathan Merriman bought 11,000 shares of PodcastOne on Nov. 19 at an average $2.20 per share, raising his direct holding to 264,079 shares — a 4.35% increase valued at about $580,974.
- Merriman has been steadily accumulating stock, also purchasing 10,700 shares on Nov. 14 at $2.16 and 10,000 shares on Sept. 4 at $1.58, indicating a pattern of insider buying.
- PodcastOne shares traded up 9.8% to $2.36 midday; the company has a ~$63.5M market cap, negative EPS/margins despite a recent quarterly revenue and EPS beat, and a consensus analyst rating of "Reduce".
PodcastOne, Inc. (NASDAQ:PODC - Get Free Report) Director D Jonathan Merriman purchased 11,000 shares of the firm's stock in a transaction on Wednesday, November 19th. The stock was acquired at an average cost of $2.20 per share, with a total value of $24,200.00. Following the transaction, the director directly owned 264,079 shares in the company, valued at $580,973.80. This trade represents a 4.35% increase in their ownership of the stock. The purchase 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, November 14th, D Jonathan Merriman acquired 10,700 shares of PodcastOne stock. The shares were bought at an average cost of $2.16 per share, for a total transaction of $23,112.00.
- On Thursday, September 4th, D Jonathan Merriman acquired 10,000 shares of PodcastOne stock. The stock was bought at an average price of $1.58 per share, for a total transaction of $15,800.00.
PodcastOne Trading Up 9.8%
NASDAQ:PODC traded up $0.21 during midday trading on Friday, reaching $2.36. The company had a trading volume of 68,657 shares, compared to its average volume of 61,556. PodcastOne, Inc. has a 12-month low of $1.28 and a 12-month high of $2.94. The firm has a market capitalization of $63.51 million, a price-to-earnings ratio of -11.80 and a beta of -0.06. The stock's fifty day simple moving average is $1.95 and its 200-day simple moving average is $1.92.
PodcastOne (NASDAQ:PODC - Get Free Report) last posted its quarterly earnings results on Wednesday, November 12th. The company reported ($0.04) earnings per share (EPS) for the quarter, beating analysts' consensus estimates of ($0.05) by $0.01. The company had revenue of $15.16 million for the quarter, compared to analyst estimates of $14.26 million. PodcastOne had a negative return on equity of 34.68% and a negative net margin of 9.07%. As a group, sell-side analysts expect that PodcastOne, Inc. will post -0.24 EPS for the current year.
Hedge Funds Weigh In On PodcastOne
A number of institutional investors and hedge funds have recently added to or reduced their stakes in the business. XTX Topco Ltd purchased a new position in PodcastOne in the first quarter valued at approximately $26,000. Pingora Partners LLC boosted its holdings in shares of PodcastOne by 122.3% in the 1st quarter. Pingora Partners LLC now owns 16,724 shares of the company's stock valued at $27,000 after buying an additional 9,200 shares in the last quarter. Thompson Davis & CO. Inc. purchased a new position in shares of PodcastOne in the 2nd quarter valued at $38,000. Creative Planning purchased a new position in shares of PodcastOne in the 2nd quarter valued at $49,000. Finally, Citadel Advisors LLC raised its stake in PodcastOne by 267.5% during the 3rd quarter. Citadel Advisors LLC now owns 41,958 shares of the company's stock worth $70,000 after acquiring an additional 30,541 shares in the last quarter. 2.87% of the stock is owned by institutional investors and hedge funds.
Analyst Ratings Changes
PODC has been the topic of several analyst reports. Weiss Ratings reaffirmed a "sell (e+)" rating on shares of PodcastOne in a report on Friday, October 31st. Zacks Research upgraded shares of PodcastOne from a "strong sell" rating to a "hold" rating in a report on Friday, November 14th. One research analyst has rated the stock with a Hold rating and one has assigned a Sell rating to the company. Based on data from MarketBeat, PodcastOne presently has a consensus rating of "Reduce".
View Our Latest Stock Report on PodcastOne
PodcastOne Company Profile
(
Get Free Report)
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.
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