Key Points
- Director D. Jonathan Merriman bought 6,700 PodcastOne shares at an average of $2.36 each, investing $15,812 and increasing his holdings to 368,132 shares.
- The purchase follows several additional insider buys since mid-August, totaling 51,700 shares across the reported transactions and signaling continued insider accumulation.
- PodcastOne opened at $2.39 with a $72.3 million market capitalization. The company reported a quarterly loss of $0.05 per share and revenue below analyst expectations, while analysts maintain a consensus “Sell” rating.
PodcastOne, Inc. (NASDAQ:PODC - Get Free Report) Director D Merriman acquired 6,700 shares of the business's stock in a transaction dated Friday, September 18th. The shares were purchased at an average price of $2.36 per share, with a total value of $15,812.00. Following the transaction, the director owned 368,132 shares of the company's stock, valued at approximately $868,791.52. This represents a 1.85% increase in their ownership of the stock. The acquisition was disclosed in a document filed with the SEC, which is available through this link.
D Jonathan Merriman also recently made the following trade(s):
- On Wednesday, September 16th, D Merriman acquired 7,700 shares of PodcastOne stock. The stock was purchased at an average cost of $2.30 per share, for a total transaction of $17,710.00.
- On Friday, August 21st, D Merriman bought 15,700 shares of PodcastOne stock. The stock was acquired at an average cost of $2.75 per share, with a total value of $43,175.00.
- On Monday, August 17th, D Merriman bought 11,300 shares of PodcastOne stock. The stock was acquired at an average price of $2.80 per share, for a total transaction of $31,640.00.
- On Friday, August 14th, D Merriman acquired 17,000 shares of PodcastOne stock. The shares were bought at an average cost of $3.20 per share, for a total transaction of $54,400.00.
PodcastOne Stock Performance
NASDAQ:PODC opened at $2.39 on Tuesday. PodcastOne, Inc. has a fifty-two week low of $1.50 and a fifty-two week high of $5.20. The firm has a market capitalization of $72.30 million, a PE ratio of -19.92 and a beta of 2.10. The stock's fifty day moving average is $3.09 and its 200 day moving average is $3.26.
PodcastOne (NASDAQ:PODC - Get Free Report) last announced its 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 during the quarter, compared to analysts' expectations of $17.76 million. PodcastOne had a negative net margin of 5.01% and a negative return on equity of 17.56%. Equities analysts forecast that PodcastOne, Inc. will post -0.12 EPS for the current year.
Analyst Ratings Changes
A number of brokerages have recently commented on PODC. Weiss Ratings reaffirmed a "sell (d-)" rating on shares of PodcastOne in a research report on Wednesday, June 24th. Zacks Research downgraded shares of PodcastOne from a "hold" rating to a "strong sell" rating in a report on Wednesday, August 19th. Finally, Wall Street Zen lowered PodcastOne from a "hold" rating to a "sell" rating in a report on Saturday, August 22nd. Two equities research analysts have rated the stock with a Sell rating, According to MarketBeat, PodcastOne has a consensus rating of "Sell".
Read Our Latest Report on PodcastOne
Institutional Investors Weigh In On PodcastOne
Hedge funds have recently added to or reduced their stakes in the business. Integrated Wealth Concepts LLC acquired a new stake in PodcastOne during the second quarter worth about $32,000. Permanens Capital L.P. purchased a new stake in PodcastOne in the 2nd quarter worth $45,000. Dimensional Fund Advisors LP purchased a new stake in shares of PodcastOne during the first quarter worth about $30,000. BlackRock Inc. acquired a new position in shares of PodcastOne during the second quarter valued at approximately $280,000. Finally, NewEdge Advisors LLC raised its stake in PodcastOne by 168.2% in the 1st quarter. NewEdge Advisors LLC now owns 88,455 shares of the company's stock valued at $180,000 after purchasing an additional 55,473 shares during the last quarter. 2.87% of the stock is owned by hedge funds and other institutional investors.
PodcastOne Company Profile
(
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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