Key Points
- PodcastOne director D Jonathan Merriman bought 7,000 shares on May 22 at an average price of $4.38, spending $30,660 and lifting his ownership to 309,732 shares.
- This latest purchase adds to a series of recent insider buys by Merriman, including share purchases in April, March, and earlier in March.
- PodcastOne stock was up 4.6% and has recently traded near its 52-week high, but analysts currently rate the stock cautiously with an average “Reduce” view.
PodcastOne, Inc. (NASDAQ:PODC - Get Free Report) Director D Jonathan Merriman bought 7,000 shares of the company's stock in a transaction on Friday, May 22nd. The shares were purchased at an average cost of $4.38 per share, for a total transaction of $30,660.00. Following the transaction, the director owned 309,732 shares in the company, valued at approximately $1,356,626.16. This represents a 2.31% increase in their ownership of the stock. The purchase was disclosed in a document filed with the Securities & Exchange Commission, which is accessible through the SEC website.
D Jonathan Merriman also recently made the following trade(s):
- On Friday, April 17th, D Jonathan Merriman bought 10,200 shares of PodcastOne stock. The shares were purchased at an average cost of $2.11 per share, for a total transaction of $21,522.00.
- On Monday, March 23rd, D Jonathan Merriman bought 2,980 shares of PodcastOne stock. The shares were purchased at an average cost of $2.35 per share, for a total transaction of $7,003.00.
- On Thursday, March 12th, D Jonathan Merriman bought 6,300 shares of PodcastOne stock. The shares were purchased at an average cost of $2.22 per share, for a total transaction of $13,986.00.
PodcastOne Stock Up 4.6%
PodcastOne stock opened at $4.98 on Thursday. PodcastOne, Inc. has a 52 week low of $1.30 and a 52 week high of $5.20. The company's 50 day moving average price is $2.96 and its two-hundred day moving average price is $2.63. The stock has a market cap of $136.90 million, a P/E ratio of -33.20 and a beta of 1.72.
Analysts Set New Price Targets
Separately, Weiss Ratings reissued a "sell (d-)" rating on shares of PodcastOne in a research report on Friday, March 27th. One analyst has rated the stock with a Hold rating and one has given a Sell rating to the company. According to data from MarketBeat.com, the stock presently has an average rating of "Reduce".
View Our Latest Stock Analysis on PODC
Institutional Investors Weigh In On PodcastOne
A number of hedge funds have recently modified their holdings of the stock. Dimensional Fund Advisors LP bought a new stake in shares of PodcastOne in the 1st quarter worth approximately $30,000. NewEdge Advisors LLC bought a new stake in shares of PodcastOne in the 4th quarter worth approximately $81,000. Citadel Advisors LLC raised its holdings in shares of PodcastOne by 267.5% in the 3rd quarter. Citadel Advisors LLC now owns 41,958 shares of the company's stock worth $70,000 after purchasing an additional 30,541 shares during the period. Finally, Creative Planning bought a new stake in shares of PodcastOne in the 2nd quarter worth approximately $49,000. Institutional investors own 2.87% of the company's stock.
PodcastOne Company Profile
(
Get Free Report)
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.
Featured Stories
This instant news alert was generated by narrative science technology and financial data from InsiderTrades.com in order to provide readers with the fastest and most accurate reporting. Please send any questions or comments about this story to [email protected].
