Blair William & Co. IL reduced its position in Pandora Media Inc (NYSE:P) by 8.2% in the third quarter, according to its most recent disclosure with the Securities and Exchange Commission (SEC). The fund owned 607,992 shares of the Internet radio service’s stock after selling 54,398 shares during the quarter. Blair William & Co. IL owned approximately 0.23% of Pandora Media worth $5,782,000 as of its most recent filing with the Securities and Exchange Commission (SEC).
A number of other large investors have also recently added to or reduced their stakes in P. Virtu Financial LLC lifted its stake in shares of Pandora Media by 175.2% in the 3rd quarter. Virtu Financial LLC now owns 30,722 shares of the Internet radio service’s stock valued at $292,000 after acquiring an additional 19,557 shares during the last quarter. Water Island Capital LLC bought a new stake in shares of Pandora Media in the 3rd quarter valued at about $6,935,000. Canada Pension Plan Investment Board lifted its stake in shares of Pandora Media by 40.3% in the 3rd quarter. Canada Pension Plan Investment Board now owns 436,500 shares of the Internet radio service’s stock valued at $4,151,000 after acquiring an additional 125,300 shares during the last quarter. CIBC World Markets Inc. bought a new stake in shares of Pandora Media in the 3rd quarter valued at about $320,000. Finally, BlackRock Inc. lifted its stake in shares of Pandora Media by 2.6% in the 3rd quarter. BlackRock Inc. now owns 18,080,889 shares of the Internet radio service’s stock valued at $171,949,000 after acquiring an additional 461,308 shares during the last quarter.
In other Pandora Media news, General Counsel Stephen G. Bene sold 9,729 shares of the company’s stock in a transaction that occurred on Friday, November 16th. The stock was sold at an average price of $8.90, for a total transaction of $86,588.10. Following the transaction, the general counsel now owns 567,304 shares in the company, valued at approximately $5,049,005.60. The transaction was disclosed in a document filed with the Securities & Exchange Commission, which can be accessed through this hyperlink. Also, insider S Aimee Lapic sold 96,814 shares of the company’s stock in a transaction that occurred on Monday, November 19th. The stock was sold at an average price of $8.86, for a total value of $857,772.04. Following the transaction, the insider now owns 436,335 shares in the company, valued at approximately $3,865,928.10. The disclosure for this sale can be found here. Insiders have sold a total of 280,711 shares of company stock worth $2,480,205 in the last quarter. Company insiders own 2.59% of the company’s stock.
P stock opened at $8.69 on Monday. Pandora Media Inc has a fifty-two week low of $4.09 and a fifty-two week high of $10.07. The company has a current ratio of 2.51, a quick ratio of 2.51 and a debt-to-equity ratio of 4.85. The company has a market cap of $2.34 billion, a price-to-earnings ratio of -7.01 and a beta of -0.42.
Pandora Media (NYSE:P) last posted its earnings results on Monday, November 5th. The Internet radio service reported ($0.06) earnings per share for the quarter, topping analysts’ consensus estimates of ($0.11) by $0.05. Pandora Media had a negative return on equity of 330.21% and a negative net margin of 23.85%. The firm had revenue of $417.63 million for the quarter, compared to the consensus estimate of $400.69 million. During the same quarter in the prior year, the business earned ($0.06) EPS. The business’s revenue for the quarter was up 10.3% on a year-over-year basis. On average, analysts expect that Pandora Media Inc will post -0.92 EPS for the current year.
A number of research firms have recently weighed in on P. Goldman Sachs Group lowered Pandora Media from a “buy” rating to a “neutral” rating and lowered their target price for the company from $12.00 to $10.00 in a research note on Wednesday, October 24th. Aegis lowered Pandora Media from a “buy” rating to a “hold” rating and set a $8.75 target price for the company. in a research note on Monday, September 24th. Needham & Company LLC lowered Pandora Media from a “buy” rating to a “hold” rating in a research report on Tuesday, September 25th. SunTrust Banks lowered Pandora Media from a “buy” rating to a “hold” rating in a research report on Tuesday, September 25th. Finally, ValuEngine raised Pandora Media from a “hold” rating to a “buy” rating in a research report on Tuesday, September 4th. One research analyst has rated the stock with a sell rating, twenty have assigned a hold rating, six have assigned a buy rating and one has assigned a strong buy rating to the company’s stock. The stock presently has a consensus rating of “Hold” and a consensus target price of $8.23.
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About Pandora Media
Pandora Media, Inc provides music discovery platform services in the United States and internationally. The company offers streaming radio and on-demand music services, which enable the listeners to create personalized stations and playlists, as well as search and play songs and albums on-demand. It also provides PandoraAd-Supported Radio Service, an ad-supported service that allows listeners to access a catalog of music, comedy, livestreams, and podcasts through its personalized playlist generating system for free across its various delivery platforms, as well as Premium Access, a service to listeners to access on-demand listening experience; and Pandora Plus, a subscription radio service, which also includes replays, additional skipping of songs, offline listening, higher quality audio on supported devices, and longer timeout-free listening.
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