Gamco Investors INC. ET AL grew its position in Pandora Media, Inc. (NYSE:P) by 80.6% during the 3rd quarter, according to its most recent 13F filing with the SEC. The institutional investor owned 684,691 shares of the Internet radio service’s stock after purchasing an additional 305,500 shares during the period. Gamco Investors INC. ET AL owned about 0.28% of Pandora Media worth $5,272,000 as of its most recent filing with the SEC.
Several other large investors have also recently modified their holdings of the company. Principal Financial Group Inc. bought a new position in shares of Pandora Media in the first quarter valued at about $446,000. FMR LLC raised its holdings in Pandora Media by 80.5% during the 1st quarter. FMR LLC now owns 2,105,894 shares of the Internet radio service’s stock worth $24,871,000 after purchasing an additional 939,500 shares during the last quarter. Legal & General Group Plc raised its holdings in Pandora Media by 145.8% during the 1st quarter. Legal & General Group Plc now owns 70,118 shares of the Internet radio service’s stock worth $828,000 after purchasing an additional 41,597 shares during the last quarter. Vanguard Group Inc. raised its holdings in Pandora Media by 4.2% during the 1st quarter. Vanguard Group Inc. now owns 17,229,855 shares of the Internet radio service’s stock worth $203,485,000 after purchasing an additional 695,819 shares during the last quarter. Finally, Schwab Charles Investment Management Inc. raised its holdings in Pandora Media by 9.2% during the 1st quarter. Schwab Charles Investment Management Inc. now owns 863,101 shares of the Internet radio service’s stock worth $10,194,000 after purchasing an additional 72,559 shares during the last quarter.
Shares of Pandora Media, Inc. (NYSE P) opened at $4.57 on Friday. The company has a current ratio of 4.18, a quick ratio of 4.18 and a debt-to-equity ratio of 1.58. Pandora Media, Inc. has a one year low of $4.44 and a one year high of $14.10.
Pandora Media (NYSE:P) last issued its earnings results on Thursday, November 2nd. The Internet radio service reported ($0.06) earnings per share (EPS) for the quarter, beating the Thomson Reuters’ consensus estimate of ($0.08) by $0.02. The firm had revenue of $378.60 million for the quarter, compared to analyst estimates of $380.54 million. Pandora Media had a negative return on equity of 74.78% and a negative net margin of 39.49%. The business’s revenue was up 7.6% on a year-over-year basis. During the same period in the previous year, the company posted ($0.07) earnings per share. equities analysts predict that Pandora Media, Inc. will post -1.09 EPS for the current year.
A number of analysts have recently commented on the company. MKM Partners reaffirmed a “neutral” rating and issued a $10.00 price target on shares of Pandora Media in a research note on Wednesday, August 2nd. Zacks Investment Research lowered Pandora Media from a “hold” rating to a “sell” rating in a research report on Thursday, October 5th. B. Riley lowered Pandora Media from a “buy” rating to a “neutral” rating and decreased their price objective for the company from $11.00 to $8.00 in a research report on Friday, November 3rd. FBR & Co reiterated a “buy” rating and issued a $11.00 price objective on shares of Pandora Media in a research report on Tuesday, August 15th. Finally, Stifel Nicolaus lowered Pandora Media from a “buy” rating to a “hold” rating and decreased their price objective for the company from $12.00 to $8.00 in a research report on Friday, November 3rd. Three investment analysts have rated the stock with a sell rating, twenty-five have given a hold rating, thirteen have issued a buy rating and one has issued a strong buy rating to the company. The stock currently has a consensus rating of “Hold” and an average target price of $11.24.
In other Pandora Media news, insider Christopher W. Phillips sold 10,322 shares of the company’s stock in a transaction dated Wednesday, August 16th. The stock was sold at an average price of $8.42, for a total value of $86,911.24. Following the transaction, the insider now directly owns 423,872 shares in the company, valued at approximately $3,569,002.24. The sale was disclosed in a filing with the Securities & Exchange Commission, which is available through this hyperlink. Also, General Counsel Stephen G. Bene sold 6,538 shares of the company’s stock in a transaction dated Wednesday, August 16th. The stock was sold at an average price of $8.42, for a total value of $55,049.96. The disclosure for this sale can be found here. Over the last 90 days, insiders sold 67,366 shares of company stock worth $564,822. Corporate insiders own 2.59% of the company’s stock.
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Pandora Media Profile
Pandora Media, Inc (Pandora) is a music discovery platform, offering a personalized experience for each of its listeners wherever and whenever they want to listen to music, whether through earbuds, car speakers or live on stage. The Company delivers targeted messages to its listeners using a combination of audio, display and video advertisements.
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