Alpine Global Management LLC Acquires New Position in Pandora Media, Inc. (NYSE:P)

Alpine Global Management LLC acquired a new stake in Pandora Media, Inc. (NYSE:P) in the second quarter, according to the company in its most recent 13F filing with the SEC. The institutional investor acquired 100,000 shares of the Internet radio service’s stock, valued at approximately $892,000.

Other hedge funds have also made changes to their positions in the company. Quinn Opportunity Partners LLC raised its stake in shares of Pandora Media by 17.9% in the 2nd quarter. Quinn Opportunity Partners LLC now owns 559,262 shares of the Internet radio service’s stock valued at $4,989,000 after buying an additional 85,000 shares in the last quarter. SG Americas Securities LLC acquired a new stake in shares of Pandora Media during the 2nd quarter worth about $3,141,000. Commonwealth of Pennsylvania Public School Empls Retrmt SYS acquired a new stake in shares of Pandora Media during the 2nd quarter worth about $10,047,000. Principal Financial Group Inc. acquired a new stake in shares of Pandora Media during the 1st quarter worth about $446,000. Finally, Brighton Jones LLC acquired a new stake in shares of Pandora Media during the 2nd quarter worth about $267,000.

ILLEGAL ACTIVITY WARNING: “Alpine Global Management LLC Acquires New Position in Pandora Media, Inc. (NYSE:P)” was first posted by The Ledger Gazette and is the sole property of of The Ledger Gazette. If you are viewing this piece on another website, it was illegally copied and reposted in violation of US and international copyright & trademark legislation. The correct version of this piece can be accessed at https://ledgergazette.com/2017/10/18/alpine-global-management-llc-acquires-new-holdings-in-pandora-media-inc-p.html.

In other news, General Counsel Stephen G. Bene sold 6,538 shares of the business’s stock in a transaction on Wednesday, August 16th. The stock was sold at an average price of $8.42, for a total value of $55,049.96. The transaction was disclosed in a legal filing with the Securities & Exchange Commission, which is available at this link. Also, EVP David Gerbitz sold 30,000 shares of the business’s stock in a transaction on Friday, September 1st. The stock was sold at an average price of $8.34, for a total value of $250,200.00. Following the completion of the transaction, the executive vice president now owns 335,607 shares of the company’s stock, valued at approximately $2,798,962.38. The disclosure for this sale can be found here. Insiders sold 67,366 shares of company stock valued at $564,822 in the last 90 days. Company insiders own 2.59% of the company’s stock.

A number of equities research analysts recently issued reports on P shares. Gabelli started coverage on shares of Pandora Media in a research report on Wednesday, June 21st. They set a “buy” rating and a $12.00 target price for the company. Aegis dropped their target price on shares of Pandora Media from $15.00 to $13.00 and set a “buy” rating for the company in a research report on Wednesday, June 21st. BidaskClub raised shares of Pandora Media from a “strong sell” rating to a “sell” rating in a report on Friday, June 23rd. FBR & Co reissued a “buy” rating and set a $11.00 price objective on shares of Pandora Media in a report on Monday, June 26th. Finally, Macquarie reissued a “neutral” rating and set a $9.00 price objective (down previously from $11.00) on shares of Pandora Media in a report on Wednesday, June 28th. Three analysts have rated the stock with a sell rating, twenty-one have issued a hold rating, sixteen have assigned a buy rating and one has assigned a strong buy rating to the company. The stock presently has a consensus rating of “Hold” and an average target price of $11.76.

Pandora Media (NYSE:P) last posted its quarterly earnings results on Monday, July 31st. The Internet radio service reported ($0.31) earnings per share for the quarter, topping the Thomson Reuters’ consensus estimate of ($0.39) by $0.08. Pandora Media had a negative return on equity of 58.81% and a negative net margin of 39.90%. The firm had revenue of $376.83 million during the quarter, compared to analysts’ expectations of $367.51 million. During the same quarter in the previous year, the business earned ($0.12) earnings per share. The company’s revenue was up 9.9% on a year-over-year basis.

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Other hedge funds have also made changes to their positions in the company. Quinn Opportunity Partners LLC raised its stake in shares of Pandora Media by 17.9% in the 2nd quarter. Quinn Opportunity Partners LLC now owns 559,262 shares of the Internet radio service’s stock valued at $4,989,000 after buying an additional 85,000 shares in the last quarter. SG Americas Securities LLC acquired a new stake in shares of Pandora Media during the 2nd quarter worth about $3,141,000. Commonwealth of Pennsylvania Public School Empls Retrmt SYS acquired a new stake in shares of Pandora Media during the 2nd quarter worth about $10,047,000. Principal Financial Group Inc. acquired a new stake in shares of Pandora Media during the 1st quarter worth about $446,000. Finally, Brighton Jones LLC acquired a new stake in shares of Pandora Media during the 2nd quarter worth about $267,000.

ILLEGAL ACTIVITY WARNING: “Alpine Global Management LLC Acquires New Position in Pandora Media, Inc. (NYSE:P)” was first posted by The Ledger Gazette and is the sole property of of The Ledger Gazette. If you are viewing this piece on another website, it was illegally copied and reposted in violation of US and international copyright & trademark legislation. The correct version of this piece can be accessed at https://ledgergazette.com/2017/10/18/alpine-global-management-llc-acquires-new-holdings-in-pandora-media-inc-p.html.

In other news, General Counsel Stephen G. Bene sold 6,538 shares of the business’s stock in a transaction on Wednesday, August 16th. The stock was sold at an average price of $8.42, for a total value of $55,049.96. The transaction was disclosed in a legal filing with the Securities & Exchange Commission, which is available at this link. Also, EVP David Gerbitz sold 30,000 shares of the business’s stock in a transaction on Friday, September 1st. The stock was sold at an average price of $8.34, for a total value of $250,200.00. Following the completion of the transaction, the executive vice president now owns 335,607 shares of the company’s stock, valued at approximately $2,798,962.38. The disclosure for this sale can be found here. Insiders sold 67,366 shares of company stock valued at $564,822 in the last 90 days. Company insiders own 2.59% of the company’s stock.

A number of equities research analysts recently issued reports on P shares. Gabelli started coverage on shares of Pandora Media in a research report on Wednesday, June 21st. They set a “buy” rating and a $12.00 target price for the company. Aegis dropped their target price on shares of Pandora Media from $15.00 to $13.00 and set a “buy” rating for the company in a research report on Wednesday, June 21st. BidaskClub raised shares of Pandora Media from a “strong sell” rating to a “sell” rating in a report on Friday, June 23rd. FBR & Co reissued a “buy” rating and set a $11.00 price objective on shares of Pandora Media in a report on Monday, June 26th. Finally, Macquarie reissued a “neutral” rating and set a $9.00 price objective (down previously from $11.00) on shares of Pandora Media in a report on Wednesday, June 28th. Three analysts have rated the stock with a sell rating, twenty-one have issued a hold rating, sixteen have assigned a buy rating and one has assigned a strong buy rating to the company. The stock presently has a consensus rating of “Hold” and an average target price of $11.76.

Pandora Media (NYSE:P) last posted its quarterly earnings results on Monday, July 31st. The Internet radio service reported ($0.31) earnings per share for the quarter, topping the Thomson Reuters’ consensus estimate of ($0.39) by $0.08. Pandora Media had a negative return on equity of 58.81% and a negative net margin of 39.90%. The firm had revenue of $376.83 million during the quarter, compared to analysts’ expectations of $367.51 million. During the same quarter in the previous year, the business earned ($0.12) earnings per share. The company’s revenue was up 9.9% on a year-over-year basis.

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.

Institutional Ownership by Quarter for Pandora Media (NYSE:P)

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