PodcastOne, Inc. (NASDAQ:PODC) Director Acquires $11,550.00 in Stock

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

PodcastOne Stock Performance

NASDAQ PODC opened at $2.04 on Tuesday. PodcastOne, Inc. has a one year low of $1.10 and a one year high of $2.85. The firm has a 50 day simple moving average of $2.24 and a 200-day simple moving average of $1.85. The firm has a market cap of $50.79 million, a price-to-earnings ratio of -8.50 and a beta of -0.80.

PodcastOne (NASDAQ:PODC) last issued its quarterly earnings results on Wednesday, February 12th. The company reported ($0.06) EPS for the quarter, beating 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%. Equities analysts predict that PodcastOne, Inc. will post -0.24 EPS for the current fiscal year.

Institutional Inflows and Outflows

Several institutional investors and hedge funds have recently bought and sold shares of the stock. Renaissance Technologies LLC purchased a new position in shares of PodcastOne in the 4th quarter valued at about $26,000. Citadel Advisors LLC purchased a new stake in shares of PodcastOne during the fourth quarter worth approximately $52,000. Apollon Wealth Management LLC acquired a new stake in PodcastOne in the fourth quarter valued at approximately $54,000. International Assets Investment Management LLC lifted its stake in PodcastOne by 92.3% in the fourth quarter. International Assets Investment Management LLC now owns 30,600 shares of the company’s stock worth $64,000 after acquiring an additional 14,688 shares during the last quarter. Finally, Fleming James B JR acquired a new position in PodcastOne during the 4th quarter worth approximately $189,000. 2.87% of the stock is 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.