Short Interest in Pandora Media Inc (P) Drops By 7.4%

Pandora Media Inc (NYSE:P) was the target of a significant decrease in short interest in January. As of January 31st, there was short interest totalling 57,447,341 shares, a decrease of 7.4% from the January 12th total of 62,028,904 shares. Approximately 23.8% of the company’s stock are short sold. Based on an average trading volume of 10,081,155 shares, the short-interest ratio is currently 5.7 days.

Shares of Pandora Media (P) opened at $4.82 on Wednesday. The company has a debt-to-equity ratio of 1.58, a current ratio of 4.18 and a quick ratio of 4.18. Pandora Media has a 52-week low of $4.09 and a 52-week high of $13.72. The stock has a market capitalization of $1,200.00, a price-to-earnings ratio of -1.94 and a beta of -0.48.

A number of research analysts have recently weighed in on P shares. Zacks Investment Research upgraded Pandora Media from a “sell” rating to a “hold” rating in a report on Wednesday, October 18th. FBR & Co restated a “buy” rating and issued a $11.00 target price on shares of Pandora Media in a report on Tuesday, October 31st. TD Securities restated a “hold” rating on shares of Pandora Media in a report on Thursday, November 23rd. Vetr lowered Pandora Media from a “buy” rating to a “hold” rating and set a $5.06 target price on the stock. in a report on Monday, February 5th. Finally, Stifel Nicolaus set a $12.00 price target on Pandora Media and gave the company a “buy” rating in a research report on Tuesday, October 31st. Four investment analysts have rated the stock with a sell rating, twenty-five have given a hold rating and eleven have issued a buy rating to the company’s stock. The company currently has a consensus rating of “Hold” and a consensus price target of $10.13.

In other news, EVP David Gerbitz sold 9,523 shares of the firm’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 in the company, valued at $1,615,189.24. The transaction was disclosed in a filing with the Securities & Exchange Commission, which can be accessed through the SEC website. Also, insider Christopher W. Phillips sold 9,988 shares of the firm’s stock in a transaction that occurred on Thursday, November 16th. The shares were sold at an average price of $5.11, for a total value of $51,038.68. Following the completion of the transaction, the insider now owns 413,884 shares in the company, valued at approximately $2,114,947.24. The disclosure for this sale can be found here. In the last quarter, insiders sold 116,389 shares of company stock worth $567,987. Corporate insiders own 2.59% of the company’s stock.

Large investors have recently added to or reduced their stakes in the business. Prudential Financial Inc. purchased a new stake in Pandora Media in the second quarter worth $109,000. Fox Run Management L.L.C. purchased a new stake in Pandora Media in the third quarter worth $111,000. Bourgeon Capital Management LLC purchased a new stake in Pandora Media in the third quarter worth $115,000. Virtu Financial LLC purchased a new stake in Pandora Media in the fourth quarter worth $106,000. Finally, Boothbay Fund Management LLC purchased a new stake in Pandora Media in the third quarter worth $180,000.

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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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