Pandora Media (P) Hits New 1-Year Low at $4.44

Shares of Pandora Media Inc (NYSE:P) reached a new 52-week low during mid-day trading on Friday . The stock traded as low as $4.44 and last traded at $4.49, with a volume of 13533000 shares traded. The stock had previously closed at $4.55.

Several analysts have recently issued reports on the company. FBR & Co reissued a “buy” rating and set a $11.00 target price on shares of Pandora Media in a report on Monday, September 25th. Zacks Investment Research raised Pandora Media from a “sell” rating to a “hold” rating in a report on Friday, November 3rd. Piper Jaffray Companies set a $9.00 target price on Pandora Media and gave the stock a “buy” rating in a report on Tuesday, December 12th. Raymond James Financial reissued a “hold” rating on shares of Pandora Media in a report on Thursday, December 14th. Finally, Morgan Stanley lowered Pandora Media from an “overweight” rating to an “equal weight” rating and reduced their target price for the stock from $12.00 to $6.00 in a report on Monday, January 8th. Four investment analysts have rated the stock with a sell rating, twenty-five have issued a hold rating, eleven have given a buy rating and one has assigned a strong buy rating to the company’s stock. The company currently has a consensus rating of “Hold” and an average price target of $10.45.

The company has a debt-to-equity ratio of 1.58, a current ratio of 4.18 and a quick ratio of 4.18. The firm has a market capitalization of $1,090.00, a PE ratio of -1.76 and a beta of -0.25.

Pandora Media (NYSE:P) last issued its quarterly earnings data on Thursday, November 2nd. The Internet radio service reported ($0.06) earnings per share (EPS) for the quarter, topping the Zacks’ consensus estimate of ($0.08) by $0.02. Pandora Media had a negative return on equity of 74.78% and a negative net margin of 39.49%. The company had revenue of $378.60 million during the quarter, compared to the consensus estimate of $380.54 million. During the same period last year, the company earned ($0.07) earnings per share. The firm’s revenue was up 7.6% compared to the same quarter last year. equities research analysts predict that Pandora Media Inc will post -1.09 earnings per share for the current fiscal year.

In other Pandora Media news, General Counsel Stephen G. Bene sold 7,967 shares of Pandora Media stock in a transaction that occurred on Thursday, November 16th. The stock was sold at an average price of $5.11, for a total value of $40,711.37. Following the completion of the sale, the general counsel now directly owns 330,865 shares in the company, valued at $1,690,720.15. The sale was disclosed in a filing with the SEC, which is available at the SEC website. Also, insider Christopher W. Phillips sold 9,988 shares of Pandora Media stock in a transaction that occurred on Thursday, November 16th. The stock was sold at an average price of $5.11, for a total value of $51,038.68. Following the completion of the sale, the insider now owns 413,884 shares of the company’s stock, valued at $2,114,947.24. The disclosure for this sale can be found here. Over the last quarter, insiders sold 116,389 shares of company stock valued at $567,987. 2.59% of the stock is currently owned by corporate insiders.

Institutional investors have recently made changes to their positions in the business. Voya Investment Management LLC boosted its position in shares of Pandora Media by 0.9% during the second quarter. Voya Investment Management LLC now owns 87,150 shares of the Internet radio service’s stock valued at $777,000 after buying an additional 740 shares during the last quarter. Oppenheimer & Co. Inc. boosted its position in shares of Pandora Media by 47.6% during the second quarter. Oppenheimer & Co. Inc. now owns 15,500 shares of the Internet radio service’s stock valued at $139,000 after buying an additional 5,000 shares during the last quarter. Northwestern Mutual Wealth Management Co. boosted its position in shares of Pandora Media by 49.9% during the second quarter. Northwestern Mutual Wealth Management Co. now owns 15,015 shares of the Internet radio service’s stock valued at $134,000 after buying an additional 5,000 shares during the last quarter. Legal & General Group Plc boosted its position in shares of Pandora Media by 8.8% during the second quarter. Legal & General Group Plc now owns 76,259 shares of the Internet radio service’s stock valued at $680,000 after buying an additional 6,141 shares during the last quarter. Finally, New York State Common Retirement Fund boosted its position in shares of Pandora Media by 0.8% during the second quarter. New York State Common Retirement Fund now owns 898,821 shares of the Internet radio service’s stock valued at $8,017,000 after buying an additional 7,088 shares during the last quarter.

ILLEGAL ACTIVITY WARNING: This article was first published by Stock Observer and is the sole property of of Stock Observer. If you are viewing this article on another site, it was illegally copied and reposted in violation of U.S. & international copyright & trademark laws. The original version of this article can be viewed at https://www.thestockobserver.com/2018/01/19/pandora-media-p-hits-new-1-year-low-at-4-44.html.

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.

Receive News & Ratings for Pandora Media Daily - Enter your email address below to receive a concise daily summary of the latest news and analysts' ratings for Pandora Media and related companies with MarketBeat.com's FREE daily email newsletter.

Leave a Reply