Pandora Media Sees Unusually High Options Volume (P)

Pandora Media, Inc. (NYSE:P) was the recipient of some unusual options trading activity on Friday. Stock traders bought 5,973 put options on the stock. This is an increase of approximately 135% compared to the typical daily volume of 2,546 put options.

A number of equities analysts recently commented on the stock. Dougherty & Co reiterated a “neutral” rating on shares of Pandora Media in a research note on Monday, June 12th. Bank of America Corporation reiterated a “buy” rating and set a $12.00 target price on shares of Pandora Media in a research note on Tuesday, June 13th. Wedbush downgraded shares of Pandora Media from a “neutral” rating to a “market perform” rating and set a $15.00 target price for the company. in a research note on Monday, June 12th. Royal Bank Of Canada reissued a “sector perform” rating and issued a $15.00 price target (down from $16.00) on shares of Pandora Media in a research report on Tuesday, May 9th. Finally, Canaccord Genuity reduced their price target on shares of Pandora Media from $18.00 to $15.00 and set a “buy” rating for the company in a research report on Monday, June 12th. Two research analysts have rated the stock with a sell rating, nineteen have issued a hold rating, nineteen have issued a buy rating and one has assigned a strong buy rating to the stock. The stock presently has an average rating of “Hold” and a consensus target price of $12.94.

Shares of Pandora Media (NYSE:P) opened at 9.47 on Friday. The company’s 50-day moving average is $8.67 and its 200-day moving average is $10.77. The firm’s market capitalization is $2.28 billion. Pandora Media has a 12-month low of $6.76 and a 12-month high of $14.98.

Pandora Media (NYSE:P) last announced its quarterly earnings results on Monday, May 8th. The Internet radio service reported ($0.37) earnings per share for the quarter, beating analysts’ consensus estimates of ($0.50) by $0.13. The business had revenue of $316 million for the quarter, compared to the consensus estimate of $318.15 million. Pandora Media had a negative net margin of 25.66% and a negative return on equity of 45.15%. Pandora Media’s revenue for the quarter was up 6.3% on a year-over-year basis. During the same period last year, the company posted ($0.20) EPS. On average, equities analysts forecast that Pandora Media will post ($0.50) earnings per share for the current fiscal year.

In other Pandora Media news, insider Christopher Douglas Martin sold 3,000 shares of the business’s stock in a transaction on Wednesday, May 10th. The shares were sold at an average price of $9.91, for a total value of $29,730.00. Following the completion of the transaction, the insider now owns 272,569 shares in the company, valued at $2,701,158.79. The transaction was disclosed in a legal filing with the SEC, which is accessible through this hyperlink. Also, General Counsel Stephen G. Bene sold 6,161 shares of the business’s stock in a transaction on Tuesday, May 16th. The stock was sold at an average price of $9.38, for a total transaction of $57,790.18. Following the completion of the transaction, the general counsel now owns 272,060 shares of the company’s stock, valued at approximately $2,551,922.80. The disclosure for this sale can be found here. In the last ninety days, insiders have sold 43,642 shares of company stock worth $411,284. Corporate insiders own 2.59% of the company’s stock.

Hedge funds have recently made changes to their positions in the stock. Essex Investment Management Co. LLC purchased a new stake in shares of Pandora Media during the first quarter worth $239,000. Russell Investments Group Ltd. increased its stake in shares of Pandora Media by 154.4% in the first quarter. Russell Investments Group Ltd. now owns 2,071,238 shares of the Internet radio service’s stock worth $24,461,000 after buying an additional 1,256,984 shares in the last quarter. Profund Advisors LLC boosted its stake in Pandora Media by 27.3% in the first quarter. Profund Advisors LLC now owns 99,201 shares of the Internet radio service’s stock worth $1,172,000 after buying an additional 21,256 shares during the last quarter. Waldron LP acquired a new stake in Pandora Media during the first quarter worth about $167,000. Finally, Peregrine Capital Management LLC boosted its stake in Pandora Media by 7.3% in the first quarter. Peregrine Capital Management LLC now owns 1,110,591 shares of the Internet radio service’s stock worth $13,227,000 after buying an additional 75,976 shares during the last quarter.

ILLEGAL ACTIVITY NOTICE: This piece of content was first reported by [[site]] and is owned by of [[site]]. If you are reading this piece of content on another publication, it was copied illegally and reposted in violation of U.S. and international trademark & copyright laws. The correct version of this piece of content can be accessed at [[permalink]].

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.