Pandora Media, Inc. (P) Sees Significant Growth in Short Interest

Pandora Media, Inc. (NYSE:P) saw a large growth in short interest in the month of October. As of October 31st, there was short interest totalling 71,930,768 shares, a growth of 6.2% from the October 13th total of 67,736,866 shares. Based on an average daily trading volume, of 6,194,636 shares, the short-interest ratio is presently 11.6 days. Approximately 30.4% of the company’s stock are sold short.

Shares of Pandora Media (NYSE:P) opened at $4.90 on Wednesday. Pandora Media has a fifty-two week low of $4.44 and a fifty-two week high of $14.10. The company has a debt-to-equity ratio of 1.58, a quick ratio of 4.18 and a current ratio of 4.18.

Pandora Media (NYSE:P) last announced its quarterly earnings results on Thursday, November 2nd. The Internet radio service reported ($0.06) earnings per share (EPS) for the quarter, beating the consensus estimate of ($0.08) by $0.02. The company had revenue of $378.60 million for 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 company’s revenue for the quarter was up 7.6% compared to the same quarter last year. During the same quarter in the prior year, the firm earned ($0.07) earnings per share. sell-side analysts forecast that Pandora Media will post -1.09 EPS for the current year.

In other Pandora Media news, EVP David Gerbitz sold 30,000 shares of the firm’s 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 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 sale was disclosed in a filing with the Securities & Exchange Commission, which is accessible through this link. Company insiders own 2.59% of the company’s stock.

Large investors have recently bought and sold shares of the company. Falcon Point Capital LLC acquired a new position in shares of Pandora Media in the second quarter valued at approximately $102,000. Prudential Financial Inc. acquired a new position in shares of Pandora Media in the second quarter valued at approximately $109,000. Symmetry Peak Management LLC acquired a new position in shares of Pandora Media in the second quarter valued at approximately $112,000. Aperio Group LLC acquired a new position in shares of Pandora Media in the second quarter valued at approximately $115,000. Finally, Fox Run Management L.L.C. acquired a new position in shares of Pandora Media in the third quarter valued at approximately $111,000.

A number of equities research analysts have recently weighed in on P shares. Morgan Stanley restated an “overweight” rating and issued a $12.00 price objective on shares of Pandora Media in a report on Wednesday, August 23rd. ValuEngine lowered shares of Pandora Media from a “sell” rating to a “strong sell” rating in a report on Friday, September 22nd. Zacks Investment Research upgraded shares of Pandora Media from a “sell” rating to a “hold” rating in a report on Wednesday, October 18th. Citigroup Inc. restated a “buy” rating and issued a $11.00 price objective (down from $12.00) on shares of Pandora Media in a report on Tuesday, August 1st. Finally, Canaccord Genuity restated 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. Three analysts have rated the stock with a sell rating, twenty-five have issued a hold rating, thirteen have assigned a buy rating and one has given a strong buy rating to the stock. The stock currently has a consensus rating of “Hold” and a consensus price target of $11.24.

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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.

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