PodcastOne, Inc. (NASDAQ:PODC) director D. Jonathan Merriman has recently increased his stake in the company, according to the latest filings with the U.S. Securities and Exchange Commission. On September 11, Merriman purchased 17,800 shares of PodcastOne's common stock at an average price of $1.71, investing a total of approximately $30,438.
The transaction was part of a series of purchases made at prices ranging from $1.70 to $1.73 per share. These new purchases bring Merriman's total holdings in PodcastOne to 165,339 shares of common stock, directly owned. Additionally, Merriman has an indirect interest in 163,079 shares held by the D. Jonathan and Odile Merriman Family Trust, for which he serves as a trustee. While he shares voting and dispositive power over these shares, he disclaims beneficial ownership except for his pecuniary interest.
The acquisition demonstrates a positive sentiment from Merriman towards the company's prospects, as directors' stock purchases are often seen as a sign of confidence in the firm's future performance. PodcastOne, known for its services in computer programming, data processing, and other technology-related services, has been a player in the digital entertainment sector, with a focus on podcast production and distribution.
Investors typically monitor insider transactions as they provide insights into the actions of those with an intimate understanding of the company. Merriman's recent purchase could be interpreted as a strong belief in the value and potential growth of PodcastOne's stock.
For more details on D. Jonathan Merriman's transactions, interested parties can refer to the full filing available on the SEC's website.
In other recent news, PodcastOne, a podcast platform under LiveOne, has released preliminary and unaudited results for the first quarter ending June 30, 2024, projecting a record revenue of $13 million. This figure denotes a $2.5 million, or 21%, increase compared to the same period last year. PodcastOne's reach has expanded to a 5.5 million unique monthly audience in the U.S. and 17.5 million global downloads and streams. The company also reported significant growth metrics, including a rise to the 11th spot in Podtrac's rankings, surpassing media giants such as Paramount, Barstool Sports, and CNN. Recent developments include the addition of finance expert Jon Merriman to its Board of Directors and an anticipated revenue between $50M and $55M for the fiscal year ending March 31, 2025. The company has also entered a significant business-to-business partnership with a Fortune 250 company, expected to contribute over $20M in annual revenues. These developments underline PodcastOne's continued growth in the podcasting industry.
InvestingPro Insights
PodcastOne, Inc. (NASDAQ:PODC) has captured attention with recent insider trading activity, and an analysis of the company's financials through InvestingPro provides further context for investors. Here are some key metrics and tips:
InvestingPro Data highlights a market capitalization of $40.35 million, reflecting the company's valuation in the current market. Despite challenges, PodcastOne has experienced a robust revenue growth of 25.32% in the last twelve months as of Q1 2025. This indicates a strong expansion in sales, which is a positive sign for potential investors. However, the company's P/E ratio stands at -2.27, suggesting that it is not currently profitable.
Among the InvestingPro Tips, it's noteworthy that PodcastOne holds more cash than debt on its balance sheet, which can provide financial flexibility and reduce risk for stakeholders. Also, the company has been highlighted for its high shareholder yield, a metric that combines dividends and share repurchases to show how much the company is giving back to shareholders relative to its stock price. Although PodcastOne does not pay dividends, this tip suggests that the company may be effectively returning value through other means.
For investors seeking a deeper analysis, there are additional InvestingPro Tips available, including insights into PodcastOne's profit margins, liquidity, and analysts' profitability predictions for the year. These tips can be accessed through the comprehensive suite of tools and data on InvestingPro, which includes further details on PodcastOne's financial health and market performance.
As the digital entertainment sector continues to evolve, keeping an eye on these metrics and tips could provide investors with a more nuanced understanding of PodcastOne's position and potential in the market.
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