Srs Investment Management buys $44,987,172 stake in Pandora Media Inc (P)

Pandora Media Inc (P) : Srs Investment Management scooped up 2,169,613 additional shares in Pandora Media Inc during the most recent quarter end , the firm said in a disclosure report filed with the SEC on Nov 14, 2016. The investment management firm now holds a total of 4,220,185 shares of Pandora Media Inc which is valued at $44,987,172.Pandora Media Inc makes up approximately 1.16% of Srs Investment Management’s portfolio.

Other Hedge Funds, Including , Fmr reduced its stake in P by selling 337,900 shares or 28.64% in the most recent quarter. The Hedge Fund company now holds 841,994 shares of P which is valued at $8,975,656.Alliancebernstein boosted its stake in P in the latest quarter, The investment management firm added 371,265 additional shares and now holds a total of 4,993,071 shares of Pandora Media Inc which is valued at $52,027,800. Pandora Media Inc makes up approx 0.04% of Alliancebernstein’s portfolio. Trexquant Investment Lp sold out all of its stake in P during the most recent quarter. The investment firm sold 16,300 shares of P which is valued $169,846.Eulav Asset Management boosted its stake in P in the latest quarter, The investment management firm added 40,000 additional shares and now holds a total of 485,000 shares of Pandora Media Inc which is valued at $5,053,700. Pandora Media Inc makes up approx 0.27% of Eulav Asset Management’s portfolio.Ifp Advisors Inc reduced its stake in P by selling 523 shares or 15.47% in the most recent quarter. The Hedge Fund company now holds 2,857 shares of P which is valued at $30,484.

Pandora Media Inc opened for trading at $11.11 and hit $11.35 on the upside on Monday, eventually ending the session at $11.34, with a gain of 2.53% or 0.28 points. The heightened volatility saw the trading volume jump to 61,61,125 shares. Company has a market cap of $2,646 M.

On the company’s financial health, Pandora Media Inc reported $-0.07 EPS for the quarter, based on the information available during the earnings call on Oct 25, 2016. Analyst had a consensus estimate of $-0.07. The company had revenue of $351.90 million for the quarter, compared to analysts expectations of $365.65 million. The company’s revenue was up 12.9% compared to the same quarter last year. During the same quarter in the previous year, the company posted $0.10 EPS.

Investors should note that on Nov 18, 2016, Pandora Media Inc announced a cash dividend of $0.3800. The company’s management has announced Dec 7, 2016 as the ex-dividend date and fixed the record date on Dec 9, 2016. The payable date has been fixed on Jan 3, 2017.

Many Wall Street Analysts have commented on Pandora Media Inc. Shares were Reiterated by Barrington Research on Oct 28, 2016 to “Outperform” and Lowered the Price Target to $ 14 from a previous price target of $16 .Shares were Reiterated by Mizuho on Oct 26, 2016 to “Buy” and Lowered the Price Target to $ 12 from a previous price target of $13 .Pandora Media Inc was Downgraded by Albert Fried to ” Underweight” on Oct 26, 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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