Traders Buy Shares of Pandora Media Inc. (P) on Weakness
Investors purchased shares of Pandora Media Inc. (NYSE:P) on weakness during trading on Tuesday. $20.70 million flowed into the stock on the tick-up and $6.42 million flowed out of the stock on the tick-down, for a money net flow of $14.28 million into the stock. Of all stocks tracked, Pandora Media had the 22nd highest net in-flow for the day. Pandora Media traded down ($0.18) for the day and closed at $13.37
Several equities analysts have recently issued reports on the company. B. Riley reissued a “neutral” rating and set a $10.00 target price on shares of Pandora Media in a research note on Wednesday, May 4th. MKM Partners reissued a “hold” rating and set a $11.50 target price on shares of Pandora Media in a research note on Saturday, July 9th. Royal Bank Of Canada reissued a “hold” rating and set a $13.00 target price on shares of Pandora Media in a research note on Saturday, April 30th. FBR & Co reissued a “buy” rating on shares of Pandora Media in a research note on Saturday, April 30th. Finally, Vetr raised Pandora Media from a “buy” rating to a “strong-buy” rating and set a $10.74 target price on the stock in a research note on Tuesday, May 3rd. One analyst has rated the stock with a sell rating, eighteen have given a hold rating, nineteen have issued a buy rating and one has given a strong buy rating to the stock. The stock currently has a consensus rating of “Buy” and a consensus price target of $15.12.
The company has a 50 day moving average price of $12.80 and a 200 day moving average price of $10.66. The company’s market capitalization is $3.09 billion.
Pandora Media (NYSE:P) last announced its quarterly earnings results on Thursday, July 21st. The Internet radio service reported ($0.12) earnings per share (EPS) for the quarter, beating the Zacks’ consensus estimate of ($0.16) by $0.04. The company earned $343 million during the quarter, compared to analysts’ expectations of $351.48 million. On average, equities analysts expect that Pandora Media Inc. will post ($0.39) EPS for the current year.
In other Pandora Media news, Director Timothy Leiweke acquired 10,000 shares of the stock in a transaction dated Wednesday, June 1st. The stock was purchased at an average price of $11.64 per share, with a total value of $116,400.00. Following the transaction, the director now directly owns 33,798 shares of the company’s stock, valued at $393,408.72. The acquisition was disclosed in a filing with the SEC, which is accessible through this hyperlink. Also, Director Crosslink Capital Inc acquired 250,000 shares of the stock in a transaction dated Wednesday, May 25th. The stock was acquired at an average cost of $10.97 per share, with a total value of $2,742,500.00. Following the transaction, the director now directly owns 725,351 shares in the company, valued at $7,957,100.47. The disclosure for this purchase can be found here.
Several hedge funds have bought and sold shares of the company. Stephens Inc. AR boosted its stake in Pandora Media by 56.4% in the fourth quarter. Stephens Inc. AR now owns 99,246 shares of the Internet radio service’s stock worth $1,331,000 after buying an additional 35,790 shares during the last quarter. Alta Park Capital LP acquired a new stake in Pandora Media during the fourth quarter worth $2,007,000. Rhumbline Advisers boosted its stake in Pandora Media by 1.0% in the fourth quarter. Rhumbline Advisers now owns 185,176 shares of the Internet radio service’s stock worth $2,483,000 after buying an additional 1,870 shares during the last quarter. BNP Paribas Arbitrage SA boosted its stake in Pandora Media by 60.7% in the fourth quarter. BNP Paribas Arbitrage SA now owns 266,388 shares of the Internet radio service’s stock worth $3,572,000 after buying an additional 100,621 shares during the last quarter. Finally, Hodges Capital Management Inc. acquired a new stake in Pandora Media during the fourth quarter worth $4,026,000.
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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