Insider Buying: PodcastOne, Inc. (NASDAQ:PODC) Director Buys $11,550.00 in Stock

PodcastOne, Inc. (NASDAQ:PODC) Director D Jonathan Merriman purchased 5,500 shares of the company’s stock in a transaction dated Thursday, February 20th. The shares were acquired at an average cost of $2.10 per share, with a total value of $11,550.00. Following the purchase, the director now directly owns 174,579 shares of the company’s stock, valued at approximately $366,615.90. The trade was a 3.25 % increase in their position. The transaction was disclosed in a document filed with the SEC, which can be accessed through this hyperlink.

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

• On Monday, February 24th, D Jonathan Merriman purchased 4,700 shares of PodcastOne stock. The shares were acquired at an average cost of $2.00 per share, with a total value of $9,400.00.

PodcastOne Stock Performance

PODC stock opened at $1.77 on Friday. PodcastOne, Inc. has a 52-week low of $1.10 and a 52-week high of $2.85. The company has a fifty day moving average price of $2.21 and a 200-day moving average price of $1.85. The company has a market capitalization of $44.07 million, a P/E ratio of -7.38 and a beta of -0.80.

PodcastOne (NASDAQ:PODC) last posted its quarterly earnings data on Wednesday, February 12th. The company reported ($0.06) earnings per share 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%. As a group, sell-side analysts forecast that PodcastOne, Inc. will post -0.24 earnings per share for the current fiscal year.

Institutional Investors Weigh In On PodcastOne

A number of large investors have recently bought and sold shares of the stock. International Assets Investment Management LLC grew its holdings in shares of PodcastOne by 92.3% during 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. Apollon Wealth Management LLC bought a new stake in PodcastOne in the fourth quarter worth about $54,000. Citadel Advisors LLC bought a new stake in PodcastOne in the fourth quarter worth about $52,000. Renaissance Technologies LLC purchased a new position in shares of PodcastOne in the fourth quarter worth about $26,000. Finally, Fleming James B JR purchased a new position in shares of PodcastOne in the fourth quarter worth about $189,000. 2.87% of the stock is currently owned by institutional investors and hedge funds.

About PodcastOne

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.