Pandora Media, Inc. (P) Earns Hold Rating from FBR & Co

FBR & Co reissued their hold rating on shares of Pandora Media, Inc. (NYSE:P) in a report published on Friday, May 12th. FBR & Co currently has a $14.00 target price on the Internet radio service’s stock.

“P’s 1Q17 included the big reveal of what kept the company extending the deadline for board nominations: It has agreed to a private investment in a public entity via a convertible preferred with KKR, which is joining P’s board as it continues to explore sale options. That is maybe encouraging for those seeking a quick sale, or to invest alongside a successful P/E firm.”,” the firm’s analyst commented.

Other equities analysts have also recently issued research reports about the company. BMO Capital Markets boosted their price target on Pandora Media to $13.00 in a research report on Tuesday, February 21st. Vetr cut Pandora Media from a strong-buy rating to a buy rating and set a $14.83 price target on the stock. in a research report on Monday, January 23rd. B. Riley restated a buy rating and issued a $17.00 price target on shares of Pandora Media in a research report on Wednesday, January 18th. Canaccord Genuity restated a buy rating and issued a $18.00 price target on shares of Pandora Media in a research report on Tuesday, January 17th. Finally, Citigroup Inc. restated a buy rating and issued a $16.00 price target on shares of Pandora Media in a research report on Saturday, January 14th. Two research analysts have rated the stock with a sell rating, twenty have issued a hold rating, sixteen have given a buy rating and one has issued a strong buy rating to the company’s stock. The stock currently has a consensus rating of Hold and an average price target of $13.53.

Shares of Pandora Media (NYSE:P) traded down 4.25% during trading on Friday, hitting $6.99. The stock had a trading volume of 16,008,533 shares. The company’s market cap is $1.68 billion. Pandora Media has a 12 month low of $6.98 and a 12 month high of $14.98. The stock has a 50-day moving average price of $9.27 and a 200 day moving average price of $11.63.

Pandora Media (NYSE:P) last posted its earnings results on Monday, May 8th. The Internet radio service reported ($0.37) EPS for the quarter, topping the Zacks’ consensus estimate of ($0.50) by $0.13. Pandora Media had a negative return on equity of 45.15% and a negative net margin of 25.66%. The business had revenue of $316 million for the quarter, compared to analysts’ expectations of $318.15 million. During the same quarter in the previous year, the firm earned ($0.20) earnings per share. The business’s revenue was up 6.3% compared to the same quarter last year. Equities analysts expect that Pandora Media will post ($0.51) EPS for the current fiscal year.

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In other Pandora Media news, President Michael S. Herring sold 11,730 shares of the stock in a transaction that occurred on Tuesday, May 16th. The shares were sold at an average price of $9.38, for a total value of $110,027.40. Following the completion of the sale, the president now owns 548,230 shares in the company, valued at approximately $5,142,397.40. The transaction was disclosed in a legal filing with the SEC, which can be accessed through this link. Also, insider Christopher Douglas Martin sold 3,000 shares of the stock in a transaction that occurred on Tuesday, March 28th. The stock was sold at an average price of $11.65, for a total transaction of $34,950.00. Following the completion of the sale, the insider now owns 275,569 shares of the company’s stock, valued at approximately $3,210,378.85. The disclosure for this sale can be found here. Insiders sold a total of 46,642 shares of company stock valued at $446,234 in the last ninety days. Company insiders own 6.64% of the company’s stock.

Hedge funds and other institutional investors have recently added to or reduced their stakes in the stock. Clearbridge Investments LLC increased its position in Pandora Media by 37,810.3% in the first quarter. Clearbridge Investments LLC now owns 1,442,865 shares of the Internet radio service’s stock worth $17,040,000 after buying an additional 1,439,059 shares in the last quarter. Waddell & Reed Financial Inc. increased its position in Pandora Media by 9.1% in the first quarter. Waddell & Reed Financial Inc. now owns 13,919,032 shares of the Internet radio service’s stock worth $164,384,000 after buying an additional 1,156,593 shares in the last quarter. Macquarie Group Ltd. increased its position in Pandora Media by 15.3% in the first quarter. Macquarie Group Ltd. now owns 3,947,837 shares of the Internet radio service’s stock worth $46,624,000 after buying an additional 523,131 shares in the last quarter. Park West Asset Management LLC increased its position in Pandora Media by 863.2% in the first quarter. Park West Asset Management LLC now owns 1,000,000 shares of the Internet radio service’s stock worth $11,810,000 after buying an additional 896,184 shares in the last quarter. Finally, Paloma Partners Management Co acquired a new position in Pandora Media during the first quarter worth $521,000.

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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