Pandora Media Target of Unusually Large Options Trading (P)
Pandora Media Inc (NYSE:P) saw some unusual options trading activity on Friday. Stock traders acquired 5,755 call options on the company. This represents an increase of 218% compared to the typical volume of 1,812 call options.
Shares of Pandora Media (P) opened at 8.75 on Wednesday. The company has a 50 day moving average of $9.94 and a 200-day moving average of $11.83. The firm’s market cap is $2.10 billion. Pandora Media has a 12-month low of $8.68 and a 12-month high of $14.98.
Pandora Media (NYSE:P) last issued its earnings results on Monday, May 8th. The Internet radio service reported ($0.37) earnings per share (EPS) for the quarter, topping the consensus estimate of ($0.50) by $0.13. The business had revenue of $316 million during the quarter, compared to analysts’ expectations of $318.15 million. Pandora Media had a negative net margin of 41.86% and a negative return on equity of 104.31%. The business’s revenue for the quarter was up 6.3% compared to the same quarter last year. During the same period in the previous year, the company earned ($0.20) earnings per share. Analysts predict that Pandora Media will post ($0.52) EPS for the current year.
P has been the subject of several research analyst reports. BMO Capital Markets boosted their price objective on shares of Pandora Media to $13.00 in a research report on Tuesday, February 21st. Zacks Investment Research upgraded shares of Pandora Media from a “hold” rating to a “buy” rating and set a $15.00 price objective for the company in a research report on Friday, February 17th. B. Riley restated a “buy” rating and set a $17.00 price objective on shares of Pandora Media in a research report on Wednesday, February 15th. Vetr upgraded shares of Pandora Media from a “hold” rating to a “buy” rating and set a $13.38 price objective for the company in a research report on Monday, February 13th. Finally, Aegis reaffirmed a “buy” rating on shares of Pandora Media in a research note on Wednesday, March 15th. Two investment analysts have rated the stock with a sell rating, seventeen have given a hold rating, seventeen have issued a buy rating and one has assigned a strong buy rating to the company. The stock presently has a consensus rating of “Hold” and a consensus price target of $13.32.
In other Pandora Media news, General Counsel Stephen G. Bene sold 6,161 shares of the business’s stock in a transaction that occurred on Tuesday, May 16th. The shares were sold at an average price of $9.38, for a total transaction of $57,790.18. Following the completion of the transaction, the general counsel now directly owns 272,060 shares in the company, valued at $2,551,922.80. The sale was disclosed in a document filed with the SEC, which can be accessed through the SEC website. Also, insider Christopher Douglas Martin sold 21,742 shares of the business’s stock in a transaction that occurred on Thursday, March 16th. The shares were sold at an average price of $11.63, for a total transaction of $252,859.46. Following the transaction, the insider now owns 278,569 shares of the company’s stock, valued at $3,239,757.47. The disclosure for this sale can be found here. Over the last quarter, insiders sold 71,384 shares of company stock valued at $735,303. 6.64% of the stock is owned by company insiders.
Hedge funds and other institutional investors have recently modified their holdings of the company. Bessemer Group Inc. boosted its position in shares of Pandora Media by 1.0% in the fourth quarter. Bessemer Group Inc. now owns 11,228 shares of the Internet radio service’s stock valued at $146,000 after buying an additional 110 shares during the period. Two Sigma Securities LLC bought a new position in Pandora Media during the first quarter valued at $136,000. National Asset Management Inc. bought a new position in Pandora Media during the third quarter valued at $171,000. Franklin Resources Inc. boosted its position in Pandora Media by 9.8% in the fourth quarter. Franklin Resources Inc. now owns 13,315 shares of the Internet radio service’s stock valued at $174,000 after buying an additional 1,190 shares during the last quarter. Finally, Levin Capital Strategies L.P. bought a new position in Pandora Media during the fourth quarter valued at $177,000.
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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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