Pandora Media Inc (NYSE:P) was the recipient of a significant increase in short interest in February. As of February 28th, there was short interest totalling 67,897,792 shares, an increase of 5.1% from the February 15th total of 64,619,451 shares. Based on an average trading volume of 19,192,577 shares, the days-to-cover ratio is currently 3.5 days. Currently, 31.0% of the company’s stock are short sold.
In related news, insider Kristen Robinson sold 11,403 shares of the company’s stock in a transaction on Friday, February 16th. The stock was sold at an average price of $5.07, for a total transaction of $57,813.21. Following the completion of the sale, the insider now owns 487,526 shares in the company, valued at $2,471,756.82. The sale was disclosed in a filing with the Securities & Exchange Commission, which is available at this link. Also, CEO Roger Lynch sold 78,707 shares of the company’s stock in a transaction on Thursday, December 21st. The stock was sold at an average price of $4.77, for a total value of $375,432.39. Following the sale, the chief executive officer now owns 701,607 shares of the company’s stock, valued at approximately $3,346,665.39. The disclosure for this sale can be found here. In the last 90 days, insiders have sold 124,204 shares of company stock valued at $606,102. Corporate insiders own 2.59% of the company’s stock.
Hedge funds and other institutional investors have recently modified their holdings of the company. Virtu Financial LLC purchased a new position in shares of Pandora Media during the 4th quarter valued at $106,000. Two Sigma Advisers LP purchased a new stake in Pandora Media during the 4th quarter worth about $110,000. Two Sigma Securities LLC lifted its holdings in Pandora Media by 106.7% during the 4th quarter. Two Sigma Securities LLC now owns 23,323 shares of the Internet radio service’s stock worth $112,000 after purchasing an additional 12,040 shares in the last quarter. Creative Planning purchased a new stake in Pandora Media during the 4th quarter worth about $128,000. Finally, Xact Kapitalforvaltning AB purchased a new stake in Pandora Media during the 4th quarter worth about $138,000.
Pandora Media (P) opened at $5.25 on Thursday. Pandora Media has a 1 year low of $4.09 and a 1 year high of $12.13. The company has a debt-to-equity ratio of 1.79, a quick ratio of 4.03 and a current ratio of 4.03. The company has a market capitalization of $1,340.00, a price-to-earnings ratio of -2.26 and a beta of -0.38.
Pandora Media (NYSE:P) last issued its quarterly earnings results on Wednesday, February 21st. The Internet radio service reported ($0.21) EPS for the quarter, missing analysts’ consensus estimates of ($0.07) by ($0.14). Pandora Media had a negative net margin of 36.83% and a negative return on equity of 111.95%. The firm had revenue of $395.00 million for the quarter, compared to analysts’ expectations of $376.79 million. During the same period in the prior year, the company earned ($0.13) EPS. The firm’s quarterly revenue was up .6% on a year-over-year basis. sell-side analysts forecast that Pandora Media will post -1 earnings per share for the current fiscal year.
Several brokerages recently issued reports on P. Barrington Research reiterated a “hold” rating on shares of Pandora Media in a report on Thursday, March 8th. Zacks Investment Research upgraded Pandora Media from a “sell” rating to a “hold” rating in a research note on Wednesday, February 28th. Macquarie restated a “hold” rating and issued a $5.00 price objective on shares of Pandora Media in a research note on Sunday, February 25th. Stifel Nicolaus restated a “hold” rating and issued a $7.00 price objective on shares of Pandora Media in a research note on Friday, February 23rd. Finally, Cowen restated a “market perform” rating and issued a $4.00 price objective (down previously from $6.00) on shares of Pandora Media in a research note on Friday, February 23rd. Three research analysts have rated the stock with a sell rating, twenty-six have issued a hold rating and eleven have issued a buy rating to the stock. The stock presently has a consensus rating of “Hold” and an average price target of $9.14.
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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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