Senvest Management buys $44.2 Million stake in Pandora Media Inc (P)

Pandora Media Inc (P) : Senvest Management scooped up 1,654,518 additional shares in Pandora Media Inc during the most recent quarter end , the firm said in a disclosure report filed with the SEC on May 13, 2016. The investment management firm now holds a total of 4,377,523 shares of Pandora Media Inc which is valued at $44.2 Million.Pandora Media Inc makes up approximately 3.93% of Senvest Management’s portfolio.

Other Hedge Funds, Including , Peak6 Investments added P to its portfolio by purchasing 138,204 company shares during the most recent quarter which is valued at $1.4 Million. Pandora Media Inc makes up approx 0.11% of Peak6 Investments’s portfolio.Thrivent Financial For Lutherans boosted its stake in P in the latest quarter, The investment management firm added 12,590 additional shares and now holds a total of 477,020 shares of Pandora Media Inc which is valued at $4.8 Million. Pandora Media Inc makes up approx 0.02% of Thrivent Financial For Lutherans’s portfolio. Oxford Asset Management sold out all of its stake in P during the most recent quarter. The investment firm sold 630,427 shares of P which is valued $6.4 Million. Aperio Group added P to its portfolio by purchasing 10,324 company shares during the most recent quarter which is valued at $102,517.

Pandora Media Inc opened for trading at $10.92 and hit $11.09 on the upside on Wednesday, eventually ending the session at $11.01, with a gain of 1.10% or 0.12 points. The heightened volatility saw the trading volume jump to 62,74,326 shares. Company has a market cap of $2,519 M.

On the company’s financial health, Pandora Media Inc reported $-0.20 EPS for the quarter, beating the analyst consensus estimate by $ 0.10 according to the earnings call on Apr 28, 2016. Analyst had a consensus of $-0.30. The company had revenue of $297.31 million for the quarter, compared to analysts expectations of $285.23 million. The company’s revenue was up 28.8% compared to the same quarter last year. During the same quarter in the previous year, the company posted $-0.12 EPS.

Many Wall Street Analysts have commented on Pandora Media Inc. Pandora Media Inc was Downgraded by Raymond James to ” Mkt Perform” on Apr 19, 2016. Citigroup Initiated Pandora Media Inc on Apr 12, 2016 to “Buy”, Price Target of the shares are set at $16.Mizuho Initiated Pandora Media Inc on Mar 30, 2016 to “Neutral”, Price Target of the shares are set at $10.

Pandora Media Inc. is a United States-based provider of Internet radio in the United States. The Company offers a personalized experience for each of its listeners wherever and whenever they want to listen to radio on a range of smartphones tablets computers and car audio systems as well as a range of other Internet-connected devices. It allows local and national advertisers to deliver targeted messages to its listeners using a combination of audio display and video advertisements. Its free service is advertising-based and allows listeners access to its music and comedy catalogs and personalized playlist generating system for free across all of its delivery platforms. Pandora One is a paid subscription service without any advertising. Pandora One also offers listeners daily skips audio on supported devices and timeout-free listening. The Company’s technologies include Music Genome Project and Comedy Genome Project.

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