First Mercantile Trust Co Lowers stake in Pandora Media Inc (P)

Pandora Media Inc (P) : First Mercantile Trust Co reduced its stake in Pandora Media Inc by 10.73% during the most recent quarter end. The investment management company now holds a total of 56,600 shares of Pandora Media Inc which is valued at $810,512 after selling 6,800 shares in Pandora Media Inc , the firm said in a disclosure report filed with the SEC on Oct 7, 2016.Pandora Media Inc makes up approximately 0.11% of First Mercantile Trust Co’s portfolio.

Other Hedge Funds, Including , Central Bank Trust Co sold out all of its stake in P during the most recent quarter. The investment firm sold 200 shares of P which is valued $2,864.Bnp Paribas Arbitrage Sa reduced its stake in P by selling 169,607 shares or 66.46% in the most recent quarter. The Hedge Fund company now holds 85,577 shares of P which is valued at $1,263,972. Pandora Media Inc makes up approx 0.01% of Bnp Paribas Arbitrage Sa’s portfolio. Washington Trust Bank added P to its portfolio by purchasing 41 company shares during the most recent quarter which is valued at $606.

Pandora Media Inc closed down -0.1 points or -0.69% at $14.32 with 26,87,458 shares getting traded on Friday. Post opening the session at $14.46, the shares hit an intraday low of $14.18 and an intraday high of $14.535 and the price fluctuated in this range throughout the day.Shares ended Friday 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 Mizuho on Sep 14, 2016 to “Neutral”, Firm has raised the Price Target to $ 13 from a previous price target of $11 .Company shares were Reiterated by Canaccord Genuity on Sep 14, 2016 to “Buy”, Firm has raised the Price Target to $ 18 from a previous price target of $14 .Pandora Media Inc was Upgraded by SunTrust to ” Buy” on Sep 12, 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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