Trexquant Investment LP bought a new stake in shares of Pandora Media Inc (NYSE:P) in the 3rd quarter, according to its most recent Form 13F filing with the Securities & Exchange Commission. The institutional investor bought 39,278 shares of the Internet radio service’s stock, valued at approximately $302,000.
A number of other hedge funds have also added to or reduced their stakes in P. SG Americas Securities LLC lifted its stake in Pandora Media by 1,179.5% during the third quarter. SG Americas Securities LLC now owns 4,505,951 shares of the Internet radio service’s stock valued at $34,696,000 after purchasing an additional 4,153,778 shares during the last quarter. Marshall Wace North America L.P. lifted its position in shares of Pandora Media by 789.9% in 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 acquiring an additional 2,737,635 shares in the last quarter. First Trust Advisors LP lifted its position in shares of Pandora Media by 51.9% in 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 acquiring an additional 2,454,296 shares in the last quarter. Nordea Investment Management AB purchased a new stake in shares of Pandora Media in the 2nd quarter valued at approximately $14,821,000. Finally, SLS Management LLC lifted its position in shares of Pandora Media by 200.5% in the 2nd quarter. SLS Management LLC now owns 2,090,156 shares of the Internet radio service’s stock valued at $18,644,000 after acquiring an additional 1,394,520 shares in the last quarter.
Several equities research analysts recently commented on the stock. Evercore ISI assumed coverage on shares of Pandora Media in a research report on Tuesday. They issued an “in-line” rating and a $5.50 price target for the company. TD Securities restated a “hold” rating on shares of Pandora Media in a research report on Thursday, November 23rd. BMO Capital Markets upgraded shares of Pandora Media from a “market perform” rating to an “outperform” rating and reduced their price target for the company from $11.00 to $7.00 in a research report on Thursday, November 16th. Zacks Investment Research upgraded shares of Pandora Media from a “sell” rating to a “hold” rating in a research report on Thursday, November 9th. Finally, Piper Jaffray Companies restated a “buy” rating and issued a $9.00 price target on shares of Pandora Media in a research report on Friday, November 3rd. Three research analysts have rated the stock with a sell rating, twenty-six have given a hold rating, fourteen have given a buy rating and one has given a strong buy rating to the company’s stock. The stock currently has a consensus rating of “Hold” and an average price target of $10.94.
Shares of Pandora Media Inc (P) traded down $0.02 on Wednesday, hitting $4.75. 12,865,500 shares of the stock traded hands, compared to its average volume of 9,844,884. Pandora Media Inc has a 52 week low of $4.44 and a 52 week high of $14.10. The company has a current ratio of 4.18, a quick ratio of 4.18 and a debt-to-equity ratio of 1.58.
Pandora Media (NYSE:P) last posted its earnings results on Thursday, November 2nd. The Internet radio service reported ($0.06) earnings per share (EPS) for the quarter, beating analysts’ consensus estimates 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 business had revenue of $378.60 million for the quarter, compared to analyst estimates of $380.54 million. During the same period last year, the business posted ($0.07) EPS. Pandora Media’s revenue was up 7.6% compared to the same quarter last year. equities research analysts forecast that Pandora Media Inc will post -1.09 earnings per share for the current fiscal year.
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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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