Pandora Media Inc (NYSE:P) saw a significant decrease in short interest during the month of December. As of December 29th, there was short interest totalling 56,727,998 shares, a decrease of 9.7% from the December 15th total of 62,831,031 shares. Based on an average daily volume of 7,432,890 shares, the days-to-cover ratio is presently 7.6 days. Approximately 23.4% of the shares of the company are short sold.
Several equities analysts have recently issued reports on the company. FBR & Co reiterated a “buy” rating and set a $11.00 price objective on shares of Pandora Media in a research report on Monday, September 25th. Zacks Investment Research upgraded Pandora Media from a “sell” rating to a “hold” rating in a research report on Friday, November 3rd. Piper Jaffray Companies set a $9.00 price objective on Pandora Media and gave the stock a “buy” rating in a research report on Tuesday, December 12th. Raymond James Financial reiterated a “hold” rating on shares of Pandora Media in a research report on Thursday, December 14th. Finally, Morgan Stanley downgraded Pandora Media from an “overweight” rating to an “equal weight” rating and reduced their price objective for the stock from $12.00 to $6.00 in a research report on Monday, January 8th. Four equities research analysts have rated the stock with a sell rating, twenty-five have issued a hold rating, eleven have issued a buy rating and one has assigned a strong buy rating to the company’s stock. Pandora Media currently has a consensus rating of “Hold” and an average target price of $10.45.
In other news, General Counsel Stephen G. Bene sold 7,967 shares of the business’s stock in a transaction that occurred on Thursday, November 16th. The stock was sold at an average price of $5.11, for a total transaction of $40,711.37. Following the completion of the transaction, the general counsel now directly owns 330,865 shares in the company, valued at $1,690,720.15. The sale was disclosed in a legal filing with the SEC, which is accessible through this link. Also, EVP David Gerbitz sold 9,523 shares of the business’s stock in a transaction that occurred on Thursday, November 16th. The stock was sold at an average price of $5.11, for a total value of $48,662.53. Following the transaction, the executive vice president now owns 316,084 shares of the company’s stock, valued at $1,615,189.24. The disclosure for this sale can be found here. Insiders have sold 116,389 shares of company stock valued at $567,987 over the last ninety days. Corporate insiders own 2.59% of the company’s stock.
Several large investors have recently made changes to their positions in P. SG Americas Securities LLC lifted its position in shares of Pandora Media by 1,179.5% during the 3rd quarter. SG Americas Securities LLC now owns 4,505,951 shares of the Internet radio service’s stock valued at $34,696,000 after acquiring an additional 4,153,778 shares during the last quarter. Nordea Investment Management AB acquired a new stake in shares of Pandora Media during the 2nd quarter valued at $14,821,000. Alyeska Investment Group L.P. lifted its position in shares of Pandora Media by 21.3% during the 3rd quarter. Alyeska Investment Group L.P. now owns 5,165,300 shares of the Internet radio service’s stock valued at $39,773,000 after acquiring an additional 906,180 shares during the last quarter. Vanguard Group Inc. lifted its position in shares of Pandora Media by 4.8% during the 2nd quarter. Vanguard Group Inc. now owns 18,059,537 shares of the Internet radio service’s stock valued at $161,092,000 after acquiring an additional 829,682 shares during the last quarter. Finally, AidennLair Capital Management LP acquired a new stake in shares of Pandora Media during the 2nd quarter valued at $3,415,000.
Shares of Pandora Media (NYSE:P) opened at $4.54 on Wednesday. Pandora Media has a 52-week low of $4.44 and a 52-week high of $13.72. The company has a market capitalization of $1,130.00, a price-to-earnings ratio of -1.82 and a beta of -0.25. The company has a debt-to-equity ratio of 1.58, a quick ratio of 4.18 and a current ratio of 4.18.
Pandora Media (NYSE:P) last announced its quarterly earnings data on Thursday, November 2nd. The Internet radio service reported ($0.06) EPS for the quarter, beating analysts’ consensus estimates of ($0.08) by $0.02. Pandora Media had a negative return on equity of 74.78% and a negative net margin of 39.49%. The company had revenue of $378.60 million during the quarter, compared to the consensus estimate of $380.54 million. During the same quarter in the prior year, the firm earned ($0.07) EPS. The company’s quarterly revenue was up 7.6% compared to the same quarter last year. sell-side analysts forecast that Pandora Media will post -1.09 earnings per share for the current fiscal year.
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Pandora Media Company 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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