Key Points
- Director D. Jonathan Merriman bought 7,700 PodcastOne shares at an average price of $2.30, investing $17,710 and increasing his ownership by 2.18% to 361,432 shares. He has also made three additional purchases since mid-August.
- PodcastOne shares opened at $2.36, with a $71.39 million market capitalization and a 12-month trading range of $1.50 to $5.20. The company recently reported a $0.05 quarterly loss per share and revenue of $16.12 million, below analyst estimates.
- Analyst sentiment is negative: Wall Street Zen, Weiss Ratings and Zacks Research all maintain or issued sell-oriented ratings, giving PodcastOne an average rating of “Sell.”
PodcastOne, Inc. (NASDAQ:PODC - Get Free Report) Director D Merriman purchased 7,700 shares of the stock in a transaction on Wednesday, September 16th. The stock was bought at an average cost of $2.30 per share, for a total transaction of $17,710.00. Following the completion of the acquisition, the director owned 361,432 shares in the company, valued at approximately $831,293.60. This trade represents a 2.18% increase in their ownership of the stock. The acquisition was disclosed in a legal filing with the Securities & Exchange Commission, which is available through this hyperlink.
D Jonathan Merriman also recently made the following trade(s):
- On Friday, August 21st, D Merriman acquired 15,700 shares of PodcastOne stock. The shares were 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 shares were purchased at an average price of $2.80 per share, with a total value of $31,640.00.
- On Friday, August 14th, D Merriman acquired 17,000 shares of PodcastOne stock. The shares were purchased at an average price of $3.20 per share, with a total value of $54,400.00.
PodcastOne Trading Up 4.4%
PodcastOne stock opened at $2.36 on Friday. The company has a market capitalization of $71.39 million, a price-to-earnings ratio of -19.67 and a beta of 2.10. PodcastOne, Inc. has a 12 month low of $1.50 and a 12 month high of $5.20. The stock's 50 day moving average is $3.13 and its 200-day moving average is $3.26.
PodcastOne (NASDAQ:PODC - Get Free Report) last released its quarterly earnings results on Wednesday, August 12th. The company reported ($0.05) earnings per share for the quarter. The firm had revenue of $16.12 million for the quarter, compared to analyst estimates of $17.76 million. PodcastOne had a negative return on equity of 17.56% and a negative net margin of 5.01%. As a group, equities research analysts predict that PodcastOne, Inc. will post -0.12 earnings per share for the current fiscal year.
Wall Street Analyst Weigh In
A number of equities research analysts have recently weighed in on PODC shares. Wall Street Zen downgraded PodcastOne from a "hold" rating to a "sell" rating in a report on Saturday, August 22nd. Weiss Ratings restated a "sell (d-)" rating on shares of PodcastOne in a research note on Wednesday, June 24th. Finally, Zacks Research lowered shares of PodcastOne from a "hold" rating to a "strong sell" rating in a research report on Wednesday, August 19th. Two equities research analysts have rated the stock with a Sell rating, Based on data from MarketBeat, the company currently has an average rating of "Sell".
Check Out Our Latest Research Report on PodcastOne
Institutional Trading of PodcastOne
Institutional investors have recently modified their holdings of the stock. NewEdge Advisors LLC grew 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 worth $180,000 after purchasing an additional 55,473 shares in the last quarter. BlackRock Inc. acquired a new position in PodcastOne in the second quarter valued at about $280,000. Dimensional Fund Advisors LP bought a new stake in PodcastOne during the first quarter worth about $30,000. Permanens Capital L.P. bought a new stake in PodcastOne during the second quarter worth about $45,000. Finally, Integrated Wealth Concepts LLC acquired a new stake in PodcastOne during the second quarter worth about $32,000. 2.87% of the stock is currently owned by institutional investors.
About PodcastOne
(
Get Free Report)
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.
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