On December 5, 2023, D Jonathan Merriman, a director at PodcastOne, Inc. (NASDAQ: PODC), purchased **5,700 shares** of the company’s stock at an average price of **$2.16 per share**. This acquisition amounted to a total investment of **$12,312**. Following this transaction, Merriman’s total holdings in PodcastOne increased to **277,152 shares**, valued at approximately **$598,648.32**. This move represents a **2.10% increase** in his position within the company.
Market Performance and Trading Activity
On the following trading day, December 8, 2023, PodcastOne’s stock saw an uptick of **3.7%**, reaching **$2.24** after **14,540 shares** changed hands. This volume was notably lower than the company’s average trading volume of **52,772 shares**. The stock has demonstrated considerable volatility over the past year, with a **twelve-month low** of **$1.28** and a high of **$2.94**. Currently, PodcastOne holds a market capitalization of **$60.28 million** and has a **P/E ratio** of **-11.20**.
Institutional investors have been active in the stock as well. In the first quarter, **XTX Topco Ltd** acquired a new stake valued at approximately **$26,000**. Additionally, **Pingora Partners LLC** expanded its holdings by **122.3%** during the same period, bringing its total to **16,724 shares** worth **$27,000**. Other significant transactions include **Thompson Davis & CO. Inc.** and **Creative Planning**, which both made new investments in PodcastOne, amounting to approximately **$38,000** and **$49,000**, respectively. Notably, **Citadel Advisors LLC** increased its holdings by **267.5%** in the third quarter, owning **41,958 shares** valued at **$70,000**. Currently, **2.87%** of PodcastOne’s stock is held by institutional investors.
Analyst Ratings and Company Overview
PodcastOne has garnered attention from various analysts. On December 2, 2023, **Weiss Ratings** reiterated a “sell (d-)” rating for the company’s shares. Conversely, **Zacks Research** upgraded the stock from a “strong sell” to a “hold” rating on November 14, 2023. Among equity research analysts, one has issued a Hold rating, while another has given a Sell rating, resulting in a consensus rating categorized as “Reduce” according to data from **MarketBeat**.
PodcastOne, Inc. operates as a leading podcast platform and publisher, presenting its content across numerous distribution channels, including its website, **Apple Podcasts**, **Spotify**, and **Amazon Music**. The company also produces vodcasts, branded podcasts, and merchandise, in addition to hosting live events. It manages **LaunchPadOne**, a self-publishing platform for podcasts, further diversifying its offerings in the growing podcasting market.
As PodcastOne navigates the complexities of the media landscape, the recent stock purchases by its director and ongoing institutional investment activity reflect an intriguing chapter in the company’s development. Investors will be watching closely to see how these moves impact PodcastOne’s performance in the coming months.
