Kopernik Global Investors Lowers stake in Pandora Media Inc (P)

Pandora Media Inc (P) : Kopernik Global Investors reduced its stake in Pandora Media Inc by 13.81% during the most recent quarter end. The investment management company now holds a total of 3,496,386 shares of Pandora Media Inc which is valued at $47,376,030 after selling 560,182 shares in Pandora Media Inc , the firm said in a disclosure report filed with the SEC on Aug 9, 2016.Pandora Media Inc makes up approximately 7.82% of Kopernik Global Investors’s portfolio.

Other Hedge Funds, Including , Global X Management Co reduced its stake in P by selling 83,270 shares or 19.52% in the most recent quarter. The Hedge Fund company now holds 343,285 shares of P which is valued at $4,569,123. Pandora Media Inc makes up approx 0.22% of Global X Management Co’s portfolio.Advisors Asset Management reduced its stake in P by selling 228 shares or 2.54% in the most recent quarter. The Hedge Fund company now holds 8,743 shares of P which is valued at $116,369. Beech Hill Advisors added P to its portfolio by purchasing 85,300 company shares during the most recent quarter which is valued at $1,053,455. Pandora Media Inc makes up approx 0.69% of Beech Hill Advisors’s portfolio.Creative Planning boosted its stake in P in the latest quarter, The investment management firm added 6,050 additional shares and now holds a total of 14,367 shares of Pandora Media Inc which is valued at $189,788.

Pandora Media Inc closed down -0.09 points or -0.69% at $13.02 with 47,12,998 shares getting traded on Wednesday. Post opening the session at $12.93, the shares hit an intraday low of $12.773 and an intraday high of $13.1 and the price fluctuated in this range throughout the day.Shares ended Wednesday session in Red.

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. Company shares were Reiterated by MKM Partners on Aug 4, 2016 to “Neutral”, Firm has raised the Price Target to $ 13 from a previous price target of $11.50 .Pandora Media Inc was Downgraded by Pacific Crest to ” Underweight” on Jul 22, 2016. Pandora Media Inc was Upgraded by Piper Jaffray to ” Overweight” on Jul 13, 2016.

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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