Key Points
- Director D. Jonathan Merriman bought 11,000 PodcastOne shares at $2.21 each, investing $24,310 and increasing his direct holdings by 2.99% to 379,132 shares.
- The purchase follows several insider buys since August, totaling 69,400 shares across the disclosed transactions, suggesting sustained insider accumulation.
- PodcastOne faces challenging fundamentals and sentiment: it reported a quarterly loss of $0.05 per share, revenue below analyst estimates, and analysts collectively rate the stock “Sell.” Shares recently opened at $2.07, well below their 50-day and 200-day moving averages.
PodcastOne, Inc. (NASDAQ:PODC - Get Free Report) Director D Merriman bought 11,000 shares of the company's stock in a transaction on Thursday, September 24th. The shares were acquired at an average price of $2.21 per share, with a total value of $24,310.00. Following the completion of the acquisition, the director directly owned 379,132 shares in the company, valued at $837,881.72. This represents a 2.99% increase in their position. The acquisition was disclosed in a filing with the Securities & Exchange Commission, which is accessible through this link.
D Jonathan Merriman also recently made the following trade(s):
- On Friday, September 18th, D Merriman bought 6,700 shares of PodcastOne stock. The shares were acquired at an average price of $2.36 per share, with a total value of $15,812.00.
- On Wednesday, September 16th, D Merriman purchased 7,700 shares of PodcastOne stock. The stock was acquired at an average cost of $2.30 per share, for a total transaction of $17,710.00.
- On Friday, August 21st, D Merriman purchased 15,700 shares of PodcastOne stock. The stock was acquired at an average price of $2.75 per share, for a total transaction of $43,175.00.
- On Monday, August 17th, D Merriman acquired 11,300 shares of PodcastOne stock. The shares were acquired at an average cost 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 acquired at an average cost of $3.20 per share, with a total value of $54,400.00.
PodcastOne Price Performance
Shares of PodcastOne stock opened at $2.07 on Tuesday. PodcastOne, Inc. has a 1 year low of $1.50 and a 1 year high of $5.20. The business has a 50 day moving average price of $2.90 and a 200 day moving average price of $3.26. The company has a market capitalization of $62.62 million, a P/E ratio of -17.25 and a beta of 2.10.
PodcastOne (NASDAQ:PODC - Get Free Report) last announced its earnings results on Wednesday, August 12th. The company reported ($0.05) EPS for the quarter. The company had revenue of $16.12 million for the quarter, compared to analyst estimates of $17.76 million. PodcastOne had a negative net margin of 5.01% and a negative return on equity of 17.56%. As a group, research analysts expect that PodcastOne, Inc. will post -0.12 EPS for the current fiscal year.
Analysts Set New Price Targets
A number of analysts recently commented on the company. Wall Street Zen lowered PodcastOne from a "hold" rating to a "sell" rating in a research note on Saturday, August 22nd. Weiss Ratings reissued a "sell (d-)" rating on shares of PodcastOne in a research note on Monday, September 21st. Finally, Zacks Research lowered shares of PodcastOne from a "hold" rating to a "strong sell" rating in a report on Wednesday, August 19th. Two analysts have rated the stock with a Sell rating, Based on data from MarketBeat, the company has an average rating of "Sell".
Read Our Latest Stock Report on PODC
Institutional Trading of PodcastOne
A number of institutional investors and hedge funds have recently made changes to their positions in the company. Integrated Wealth Concepts LLC acquired a new stake in PodcastOne during the second quarter worth about $32,000. Permanens Capital L.P. acquired a new position in shares of PodcastOne in the 2nd quarter valued at about $45,000. Dimensional Fund Advisors LP acquired a new position in shares of PodcastOne in the 1st quarter valued at about $30,000. 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 during the period. Finally, BlackRock Inc. purchased a new stake in shares of PodcastOne during the 2nd quarter worth about $280,000. 2.87% of the stock is currently owned by institutional investors and hedge funds.
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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