Short Interest in Pandora Media, Inc. (P) Drops By 13.4%

Pandora Media, Inc. (NYSE:P) was the target of a large decline in short interest in September. As of September 29th, there was short interest totalling 68,598,716 shares, a decline of 13.4% from the September 15th total of 79,188,542 shares. Approximately 29.0% of the company’s stock are sold short. Based on an average trading volume of 5,992,021 shares, the short-interest ratio is currently 11.4 days.

A number of brokerages recently issued reports on P. Canaccord Genuity reiterated a “buy” rating and issued a $14.00 price objective (down from $15.00) on shares of Pandora Media in a report on Tuesday, August 1st. MKM Partners reiterated a “neutral” rating and issued a $10.00 price objective on shares of Pandora Media in a report on Wednesday, August 2nd. Wells Fargo & Co reiterated a “hold” rating on shares of Pandora Media in a report on Tuesday, August 15th. Barrington Research reiterated a “market perform” rating on shares of Pandora Media in a report on Wednesday, August 2nd. Finally, FBR & Co reiterated a “buy” rating and issued a $11.00 price objective on shares of Pandora Media in a report on Tuesday, August 15th. Three equities research analysts have rated the stock with a sell rating, twenty-one have assigned a hold rating, sixteen have assigned a buy rating and one has issued a strong buy rating to the stock. The company currently has a consensus rating of “Hold” and an average price target of $11.76.

Shares of Pandora Media (P) opened at 7.49 on Friday. Pandora Media has a 52 week low of $6.76 and a 52 week high of $14.10. The firm’s 50-day moving average is $8.07 and its 200 day moving average is $8.95. The company’s market capitalization is $1.82 billion.

Pandora Media (NYSE:P) last announced its quarterly earnings results on Monday, July 31st. The Internet radio service reported ($0.31) earnings per share (EPS) for the quarter, beating the consensus estimate of ($0.39) by $0.08. The company had revenue of $376.83 million for the quarter, compared to analyst estimates of $367.51 million. Pandora Media had a negative net margin of 39.90% and a negative return on equity of 58.81%. The firm’s revenue was up 9.9% on a year-over-year basis. During the same period in the previous year, the firm posted ($0.12) EPS. On average, analysts anticipate that Pandora Media will post ($0.51) earnings per share for the current fiscal year.

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

Institutional investors and hedge funds have recently bought and sold shares of the business. Falcon Point Capital LLC bought a new stake in Pandora Media during the 2nd quarter worth approximately $102,000. Prudential Financial Inc. bought a new stake in Pandora Media during the 2nd quarter worth approximately $109,000. Symmetry Peak Management LLC bought a new stake in Pandora Media during the 2nd quarter worth approximately $112,000. Aperio Group LLC bought a new stake in Pandora Media during the 2nd quarter worth approximately $115,000. Finally, Virtu Financial LLC bought a new stake in Pandora Media during the 2nd quarter worth approximately $12

A number of brokerages recently issued reports on P. Canaccord Genuity reiterated a “buy” rating and issued a $14.00 price objective (down from $15.00) on shares of Pandora Media in a report on Tuesday, August 1st. MKM Partners reiterated a “neutral” rating and issued a $10.00 price objective on shares of Pandora Media in a report on Wednesday, August 2nd. Wells Fargo & Co reiterated a “hold” rating on shares of Pandora Media in a report on Tuesday, August 15th. Barrington Research reiterated a “market perform” rating on shares of Pandora Media in a report on Wednesday, August 2nd. Finally, FBR & Co reiterated a “buy” rating and issued a $11.00 price objective on shares of Pandora Media in a report on Tuesday, August 15th. Three equities research analysts have rated the stock with a sell rating, twenty-one have assigned a hold rating, sixteen have assigned a buy rating and one has issued a strong buy rating to the stock. The company currently has a consensus rating of “Hold” and an average price target of $11.76.

Shares of Pandora Media (P) opened at 7.49 on Friday. Pandora Media has a 52 week low of $6.76 and a 52 week high of $14.10. The firm’s 50-day moving average is $8.07 and its 200 day moving average is $8.95. The company’s market capitalization is $1.82 billion.

Pandora Media (NYSE:P) last announced its quarterly earnings results on Monday, July 31st. The Internet radio service reported ($0.31) earnings per share (EPS) for the quarter, beating the consensus estimate of ($0.39) by $0.08. The company had revenue of $376.83 million for the quarter, compared to analyst estimates of $367.51 million. Pandora Media had a negative net margin of 39.90% and a negative return on equity of 58.81%. The firm’s revenue was up 9.9% on a year-over-year basis. During the same period in the previous year, the firm posted ($0.12) EPS. On average, analysts anticipate that Pandora Media will post ($0.51) earnings per share for the current fiscal year.

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

Institutional investors and hedge funds have recently bought and sold shares of the business. Falcon Point Capital LLC bought a new stake in Pandora Media during the 2nd quarter worth approximately $102,000. Prudential Financial Inc. bought a new stake in Pandora Media during the 2nd quarter worth approximately $109,000. Symmetry Peak Management LLC bought a new stake in Pandora Media during the 2nd quarter worth approximately $112,000. Aperio Group LLC bought a new stake in Pandora Media during the 2nd quarter worth approximately $115,000. Finally, Virtu Financial LLC bought a new stake in Pandora Media during the 2nd quarter worth approximately $121,000.

TRADEMARK VIOLATION WARNING: This piece of content was reported by The Ledger Gazette and is the property of of The Ledger Gazette. If you are reading this piece of content on another publication, it was stolen and republished in violation of U.S. and international trademark and copyright laws. The correct version of this piece of content can be viewed at https://ledgergazette.com/2017/10/21/short-interest-in-pandora-media-inc-p-drops-by-13-4.html.

About Pandora Media

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.

Receive News & Ratings for Pandora Media Inc. Daily - Enter your email address below to receive a concise daily summary of the latest news and analysts' ratings for Pandora Media Inc. and related companies with MarketBeat.com's FREE daily email newsletter.

Leave a Reply