Teton Advisors Inc. grew its stake in shares of Pandora Media, Inc. (NYSE:P) by 200.7% in the third quarter, according to the company in its most recent 13F filing with the Securities and Exchange Commission. The firm owned 75,721 shares of the Internet radio service’s stock after acquiring an additional 50,540 shares during the period. Teton Advisors Inc.’s holdings in Pandora Media were worth $583,000 at the end of the most recent reporting period.
Several other institutional investors also recently modified their holdings of the stock. Vanguard Group Inc. grew its stake in Pandora Media by 4.8% in the 2nd quarter. Vanguard Group Inc. now owns 18,059,537 shares of the Internet radio service’s stock worth $161,092,000 after acquiring an additional 829,682 shares during the period. First Trust Advisors LP grew its stake in shares of Pandora Media by 51.9% during the 2nd quarter. First Trust Advisors LP now owns 7,183,485 shares of the Internet radio service’s stock valued at $64,077,000 after buying an additional 2,454,296 shares during the period. Ontario Teachers Pension Plan Board grew its stake in shares of Pandora Media by 0.7% during the 2nd quarter. Ontario Teachers Pension Plan Board now owns 7,046,899 shares of the Internet radio service’s stock valued at $62,858,000 after buying an additional 46,899 shares during the period. Marshall Wace North America L.P. grew its stake in shares of Pandora Media by 789.9% during the 2nd quarter. Marshall Wace North America L.P. now owns 3,084,210 shares of the Internet radio service’s stock valued at $27,758,000 after buying an additional 2,737,635 shares during the period. Finally, State Street Corp grew its stake in shares of Pandora Media by 2.0% during the 2nd quarter. State Street Corp now owns 3,009,871 shares of the Internet radio service’s stock valued at $26,850,000 after buying an additional 59,948 shares during the period.
Shares of Pandora Media, Inc. (NYSE:P) traded up $0.03 during midday trading on Thursday, reaching $4.93. 8,646,400 shares of the company were exchanged, compared to its average volume of 9,885,852. The company has a quick ratio of 4.18, a current ratio of 4.18 and a debt-to-equity ratio of 1.58. Pandora Media, Inc. has a 52-week low of $4.44 and a 52-week high of $14.10.
Pandora Media (NYSE:P) last issued its quarterly earnings data on Thursday, November 2nd. The Internet radio service reported ($0.06) earnings per share (EPS) for the quarter, beating the Zacks’ consensus estimate of ($0.08) by $0.02. Pandora Media had a negative net margin of 39.49% and a negative return on equity of 74.78%. The firm had revenue of $378.60 million during the quarter, compared to analysts’ expectations of $380.54 million. During the same quarter in the previous year, the company earned ($0.07) earnings per share. The business’s revenue for the quarter was up 7.6% on a year-over-year basis. equities research analysts predict that Pandora Media, Inc. will post -1.09 earnings per share for the current year.
In other Pandora Media news, EVP David Gerbitz sold 30,000 shares of Pandora Media stock in a transaction that occurred on Friday, September 1st. The shares were sold at an average price of $8.34, for a total value of $250,200.00. Following the transaction, the executive vice president now owns 335,607 shares of the company’s stock, valued at $2,798,962.38. The sale was disclosed in a legal filing with the SEC, which is accessible through this link. Insiders own 2.59% of the company’s stock.
P has been the topic of a number of recent analyst reports. Morgan Stanley restated an “overweight” rating and issued a $12.00 target price on shares of Pandora Media in a research note on Wednesday, August 23rd. ValuEngine lowered shares of Pandora Media from a “sell” rating to a “strong sell” rating in a research note on Friday, September 22nd. Zacks Investment Research raised shares of Pandora Media from a “sell” rating to a “hold” rating in a research report on Wednesday, October 18th. Citigroup Inc. reaffirmed a “buy” rating and set a $11.00 price objective (down previously from $12.00) on shares of Pandora Media in a research report on Tuesday, August 1st. Finally, Canaccord Genuity reaffirmed a “buy” rating and set a $14.00 price objective (down previously from $15.00) on shares of Pandora Media in a research report on Tuesday, August 1st. Three equities research analysts have rated the stock with a sell rating, twenty-four have given a hold rating, fourteen have given a buy rating and one has given a strong buy rating to the company. Pandora Media currently has an average rating of “Hold” and an average target price of $11.24.
Pandora Media 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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