Kornitzer Capital Management Inc. KS maintained its position in shares of Pandora Media Inc. (NYSE:P) during the second quarter, according to its most recent filing with the Securities and Exchange Commission (SEC). The firm owned 1,151,615 shares of the Internet radio service’s stock at the end of the second quarter. Kornitzer Capital Management Inc. KS owned approximately 0.50% of Pandora Media worth $14,338,000 as of its most recent SEC filing.

A number of other hedge funds and other institutional investors have also modified their holdings of P. River & Mercantile Asset Management LLP boosted its stake in Pandora Media by 174.3% in the second quarter. River & Mercantile Asset Management LLP now owns 199,560 shares of the Internet radio service’s stock worth $2,483,000 after buying an additional 126,800 shares in the last quarter. Creative Planning boosted its stake in Pandora Media by 72.7% in the second quarter. Creative Planning now owns 14,367 shares of the Internet radio service’s stock worth $179,000 after buying an additional 6,050 shares in the last quarter. Squarepoint Ops LLC purchased a new stake in Pandora Media during the first quarter worth about $600,000. Seven Eight Capital LLC purchased a new stake in Pandora Media during the first quarter worth about $272,000. Finally, LPL Financial LLC boosted its stake in Pandora Media by 8.6% in the first quarter. LPL Financial LLC now owns 146,558 shares of the Internet radio service’s stock worth $1,316,000 after buying an additional 11,630 shares in the last quarter.

Institutional Ownership by Quarter for Pandora Media (NYSE:P)

Pandora Media Inc. (NYSE:P) traded down 2.58% during trading on Friday, reaching $12.83. The company’s stock had a trading volume of 5,424,064 shares. Pandora Media Inc. has a 12 month low of $7.10 and a 12 month high of $20.55. The stock’s 50 day moving average is $14.06 and its 200 day moving average is $12.01. The company’s market cap is $2.96 billion.

Pandora Media (NYSE:P) last issued its quarterly earnings data on Thursday, July 21st. The Internet radio service reported ($0.12) EPS for the quarter, topping analysts’ consensus estimates of ($0.16) by $0.04. The firm earned $343 million during the quarter, compared to analyst estimates of $351.48 million. Pandora Media had a negative return on equity of 25.53% and a negative net margin of 23.04%. On average, equities analysts expect that Pandora Media Inc. will post ($0.39) EPS for the current fiscal year.

Several analysts recently commented on P shares. Canaccord Genuity reaffirmed a “buy” rating and issued a $14.00 price target on shares of Pandora Media in a research note on Friday, July 15th. Mizuho reaffirmed a “neutral” rating and issued a $11.00 price target on shares of Pandora Media in a research note on Thursday, August 4th. Vetr lowered Pandora Media from a “strong-buy” rating to a “buy” rating and set a $14.89 price target on the stock. in a research note on Monday, August 22nd. Needham & Company LLC reaffirmed a “buy” rating and issued a $16.00 price target on shares of Pandora Media in a research note on Thursday, September 15th. Finally, Macquarie boosted their price target on Pandora Media from $15.00 to $16.00 and gave the company an “outperform” rating in a research note on Tuesday, July 19th. Two investment analysts have rated the stock with a sell rating, fifteen have given a hold rating, nineteen have issued a buy rating and two have issued a strong buy rating to the company’s stock. The stock has an average rating of “Buy” and an average target price of $15.91.

In other news, insider Christopher W. Phillips sold 12,274 shares of the business’s stock in a transaction that occurred on Monday, July 25th. The stock was sold at an average price of $12.15, for a total value of $149,129.10. Following the transaction, the insider now owns 288,878 shares in the company, valued at approximately $3,509,867.70. The sale was disclosed in a document filed with the Securities & Exchange Commission, which is available through this link. Also, insider Christopher Douglas Martin sold 2,000 shares of the business’s stock in a transaction that occurred on Monday, August 1st. The stock was sold at an average price of $13.60, for a total value of $27,200.00. Following the completion of the transaction, the insider now owns 344,470 shares in the company, valued at approximately $4,684,792. The disclosure for this sale can be found here. Company insiders own 6.64% of the company’s stock.

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.

5 Day Chart for NYSE:P

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