Macquarie Group Ltd. Cuts Position in Pandora Media Inc (P)
Macquarie Group Ltd. decreased its holdings in Pandora Media Inc (NYSE:P) by 25.0% during the 3rd quarter, according to its most recent disclosure with the SEC. The firm owned 139,712 shares of the Internet radio service’s stock after selling 46,540 shares during the period. Macquarie Group Ltd. owned approximately 0.06% of Pandora Media worth $1,076,000 at the end of the most recent reporting period.
A number of other hedge funds and other institutional investors have also bought and sold shares of P. Quinn Opportunity Partners LLC grew its position in Pandora Media by 17.9% in the second quarter. Quinn Opportunity Partners LLC now owns 559,262 shares of the Internet radio service’s stock valued at $4,989,000 after acquiring an additional 85,000 shares in the last quarter. Vanguard Group Inc. grew its position in Pandora Media by 4.8% in the second quarter. Vanguard Group Inc. now owns 18,059,537 shares of the Internet radio service’s stock valued at $161,092,000 after acquiring an additional 829,682 shares in the last quarter. Commonwealth of Pennsylvania Public School Empls Retrmt SYS acquired a new stake in Pandora Media in the second quarter valued at approximately $10,047,000. SG Americas Securities LLC acquired a new stake in Pandora Media in the second quarter valued at approximately $3,141,000. Finally, Brighton Jones LLC acquired a new stake in Pandora Media in the second quarter valued at approximately $267,000.
Several analysts have issued reports on P shares. Wells Fargo & Company reaffirmed a “hold” rating on shares of Pandora Media in a research report on Tuesday, August 15th. Stifel Nicolaus set a $12.00 price objective on shares of Pandora Media and gave the company a “buy” rating in a research report on Tuesday, August 15th. FBR & Co reaffirmed a “buy” rating and issued a $11.00 price objective on shares of Pandora Media in a research report on Tuesday, August 15th. BidaskClub raised shares of Pandora Media from a “sell” rating to a “hold” rating in a research report on Friday, August 18th. Finally, Morgan Stanley reaffirmed an “overweight” rating and issued a $12.00 price objective on shares of Pandora Media in a research report on Wednesday, August 23rd. Three investment analysts have rated the stock with a sell rating, twenty-six have issued a hold rating, thirteen have issued a buy rating and one has assigned a strong buy rating to the company. The stock currently has a consensus rating of “Hold” and a consensus price target of $10.94.
Pandora Media (NYSE:P) last released its quarterly earnings data on Thursday, November 2nd. The Internet radio service reported ($0.06) EPS for the quarter, topping analysts’ consensus estimates of ($0.08) by $0.02. The firm had revenue of $378.60 million during the quarter, compared to the consensus estimate of $380.54 million. Pandora Media had a negative net margin of 39.49% and a negative return on equity of 74.78%. The firm’s revenue was up 7.6% on a year-over-year basis. During the same quarter in the previous year, the company posted ($0.07) earnings per share. analysts anticipate that Pandora Media Inc will post -1.09 EPS for the current year.
In other Pandora Media news, insider Christopher W. Phillips sold 9,988 shares of Pandora Media stock in a transaction 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 of the company’s stock, valued at $2,114,947.24. The transaction was disclosed in a filing with the SEC, which is accessible through the SEC website. Also, EVP David Gerbitz sold 9,523 shares of Pandora Media stock in a transaction on Thursday, November 16th. The stock was sold at an average price of $5.11, for a total transaction of $48,662.53. Following the completion of the transaction, the executive vice president now directly owns 316,084 shares of the company’s stock, valued at approximately $1,615,189.24. The disclosure for this sale can be found here. In the last ninety days, insiders sold 37,682 shares of company stock valued at $192,555. 2.59% of the stock is currently owned by corporate insiders.
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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.
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