Key Points
- Director D. Jonathan Merriman bought 5,700 shares on Dec. 5 at $2.16 ($12,312), raising his direct stake to 277,152 shares after several purchases in November and early December — a roughly 2.1% increase in his ownership.
- PodcastOne beat quarterly EPS and revenue estimates (EPS -$0.04 vs. -$0.05; revenue $15.16M vs. $14.26M) but remains unprofitable with a negative net margin (9.07%) and ROE (-34.68%); the stock trades near $2.24 with a market cap of about $60M and an average analyst rating of "Reduce".
PodcastOne, Inc. (NASDAQ:PODC - Get Free Report) Director D Jonathan Merriman bought 5,700 shares of the business's stock in a transaction dated Friday, December 5th. The stock was acquired at an average price of $2.16 per share, for a total transaction of $12,312.00. Following the purchase, the director directly owned 277,152 shares in the company, valued at approximately $598,648.32. The trade was a 2.10% increase in their ownership of the stock. The acquisition was disclosed in a legal filing with the SEC, which is available through this link.
D Jonathan Merriman also recently made the following trade(s):
- On Wednesday, November 26th, D Jonathan Merriman acquired 7,373 shares of PodcastOne stock. The stock was purchased at an average price of $2.47 per share, for a total transaction of $18,211.31.
- On Wednesday, November 19th, D Jonathan Merriman purchased 11,000 shares of PodcastOne stock. The shares were purchased at an average price of $2.20 per share, with a total value of $24,200.00.
- On Friday, November 14th, D Jonathan Merriman bought 10,700 shares of PodcastOne stock. The shares were acquired at an average price of $2.16 per share, with a total value of $23,112.00.
PodcastOne Trading Up 3.7%
PodcastOne stock opened at $2.24 on Tuesday. The firm has a 50 day simple moving average of $2.07 and a 200 day simple moving average of $1.95. PodcastOne, Inc. has a 1-year low of $1.28 and a 1-year high of $2.94. The firm has a market capitalization of $60.28 million, a price-to-earnings ratio of -11.20 and a beta of -0.11.
PodcastOne (NASDAQ:PODC - Get Free Report) last released its quarterly earnings data on Wednesday, November 12th. The company reported ($0.04) EPS for the quarter, beating analysts' consensus estimates of ($0.05) by $0.01. The company had revenue of $15.16 million during the quarter, compared to analyst estimates of $14.26 million. PodcastOne had a negative net margin of 9.07% and a negative return on equity of 34.68%. On average, equities research analysts forecast that PodcastOne, Inc. will post -0.24 EPS for the current year.
Hedge Funds Weigh In On PodcastOne
Institutional investors and hedge funds have recently added to or reduced their stakes in the company. Rockefeller Capital Management L.P. purchased a new position in shares of PodcastOne during the second quarter valued at approximately $316,000. Citadel Advisors LLC increased 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 buying an additional 30,541 shares in the last quarter. Creative Planning purchased a new position in PodcastOne during the second quarter valued at $49,000. XTX Topco Ltd bought a new stake in PodcastOne in the first quarter worth $26,000. Finally, Thompson Davis & CO. Inc. purchased a new stake in shares of PodcastOne in the second quarter worth $38,000. Hedge funds and other institutional investors own 2.87% of the company's stock.
Analysts Set New Price Targets
PODC has been the subject of a number of research reports. Zacks Research raised shares of PodcastOne from a "strong sell" rating to a "hold" rating in a research note on Friday, November 14th. Weiss Ratings restated a "sell (d-)" rating on shares of PodcastOne in a research report on Tuesday, December 2nd. One analyst has rated the stock with a Hold rating and one has assigned a Sell rating to the stock. According to MarketBeat, the stock presently has an average rating of "Reduce".
Check Out Our Latest Stock Report on PodcastOne
About PodcastOne
(
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.
Further Reading
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