Insider Buying: PodcastOne, Inc. (NASDAQ:PODC) Director Purchases 7,000 Shares of Stock

PodcastOne, Inc. (NASDAQ:PODC) Director D Jonathan Merriman acquired 7,000 shares of the stock in a transaction dated Tuesday, March 18th. The shares were bought at an average cost of $1.72 per share, with a total value of $12,040.00. Following the completion of the transaction, the director now owns 202,679 shares of the company’s stock, valued at approximately $348,607.88. This represents a 3.58 % increase in their position. The purchase was disclosed in a document filed with the Securities & Exchange Commission, which is available through this link.

D Jonathan Merriman also recently made the following trade(s):

• On Monday, March 10th, D Jonathan Merriman purchased 5,200 shares of PodcastOne stock. The shares were purchased at an average price of $1.72 per share, with a total value of $8,944.00.
• On Wednesday, March 5th, D Jonathan Merriman acquired 8,700 shares of PodcastOne stock. The stock was purchased at an average price of $1.87 per share, for a total transaction of $16,269.00.
• On Wednesday, February 26th, D Jonathan Merriman bought 7,700 shares of PodcastOne stock. The stock was acquired at an average cost of $1.80 per share, for a total transaction of $13,860.00.
• On Wednesday, February 26th, D Jonathan Merriman purchased 7,700 shares of PodcastOne stock. The shares were acquired at an average cost of $1.80 per share, with a total value of $13,860.00.
• On Monday, February 24th, D Jonathan Merriman bought 4,700 shares of PodcastOne stock. The shares were acquired at an average cost of $2.00 per share, for a total transaction of $9,400.00.
• On Thursday, February 20th, D Jonathan Merriman purchased 5,500 shares of PodcastOne stock. The stock was acquired at an average cost of $2.10 per share, with a total value of $11,550.00.

PodcastOne Stock Performance

PODC stock traded up $0.06 during midday trading on Wednesday, reaching $1.77. 6,387 shares of the company were exchanged, compared to its average volume of 36,186. The company has a market cap of $44.07 million, a price-to-earnings ratio of -7.38 and a beta of -0.20. PodcastOne, Inc. has a 1-year low of $1.10 and a 1-year high of $2.85. The stock’s 50-day simple moving average is $2.08 and its 200 day simple moving average is $1.88.

PodcastOne (NASDAQ:PODC) last announced its quarterly earnings results on Wednesday, February 12th. The company reported ($0.06) EPS for the quarter, topping the consensus estimate of ($0.07) by $0.01. PodcastOne had a negative net margin of 11.40% and a negative return on equity of 36.83%. On average, research analysts anticipate that PodcastOne, Inc. will post -0.24 earnings per share for the current year.

Institutional Inflows and Outflows

A number of hedge funds have recently added to or reduced their stakes in PODC. Citadel Advisors LLC purchased a new position in shares of PodcastOne during the fourth quarter worth approximately $52,000. Renaissance Technologies LLC acquired a new stake in PodcastOne during the 4th quarter worth $26,000. Fleming James B JR purchased a new position in PodcastOne during the 4th quarter worth $189,000. Apollon Wealth Management LLC acquired a new position in PodcastOne in the fourth quarter valued at $54,000. Finally, International Assets Investment Management LLC raised its holdings in shares of PodcastOne by 92.3% in the fourth quarter. International Assets Investment Management LLC now owns 30,600 shares of the company’s stock valued at $64,000 after buying an additional 14,688 shares during the last quarter. Hedge funds and other institutional investors own 2.87% of the company’s stock.

PodcastOne Company Profile

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.