Is Pandora Media Inc (NYSE:P) a good investment now? The best stock pickers are getting more bullish. The number of bullish hedge fund bets inched up by 9 in recent months.
In the financial world, there are many indicators investors can use to monitor their holdings. Some of the most underrated are hedge fund and insider trading movement. At Insider Monkey, our research analyses have shown that, historically, those who follow the top picks of the elite money managers can beat their index-focused peers by a healthy margin (see just how much).
Equally as integral, positive insider trading activity is another way to break down the marketplace. There are a variety of motivations for an upper level exec to downsize shares of his or her company, but just one, very clear reason why they would buy. Various empirical studies have demonstrated the impressive potential of this method if “monkeys” know what to do (learn more here).
Now, it’s important to take a look at the key action encompassing Pandora Media Inc (NYSE:P).
What does the smart money think about Pandora Media Inc (NYSE:P)?
In preparation for this quarter, a total of 28 of the hedge funds we track were bullish in this stock, a change of 47% from the previous quarter. With hedgies’ sentiment swirling, there exists an “upper tier” of notable hedge fund managers who were upping their holdings considerably.
According to our comprehensive database, Seymour Sy Kaufman and Michael Stark’s Crosslink Capital had the largest position in Pandora Media Inc (NYSE:P), worth close to $451.7 million, comprising 41.4% of its total 13F portfolio. Sitting at the No. 2 spot is Orbis Investment Management, managed by William B. Gray, which held a $73.2 million position; the fund has 0.6% of its 13F portfolio invested in the stock. Some other hedgies that hold long positions include Mariko Gordon’s Daruma Asset Management, and Robert Pitts’s Steadfast Capital Management.
As aggregate interest increased, some big names have been driving this bullishness. Orbis Investment Management, managed by William B. Gray, assembled the biggest position in Pandora Media Inc (NYSE:P). Orbis Investment Management had 73.2 million invested in the company at the end of the quarter. Jeffrey Jon Berney’s TriOaks Capital Management also made a $63 million investment in the stock during the quarter. The other funds with brand new P positions are John Thaler’s JAT Capital Management, Bain Capital’s Brookside Capital, and Eric Bannasch’s Cadian Capital.
How have insiders been trading Pandora Media Inc (NYSE:P)?
Insider purchases made by high-level executives is particularly usable when the company in question has experienced transactions within the past six months. Over the latest half-year time frame, Pandora Media Inc (NYSE:P) has experienced zero unique insiders purchasing, and 9 insider sales (see the details of insider trades here).
Let’s also review hedge fund and insider activity in other stocks similar to Pandora Media Inc (NYSE:P). These stocks are Entercom Communications Corp. (NYSE:ETM), Sirius XM Radio Inc (NASDAQ:SIRI), and Cumulus Media Inc (NASDAQ:CMLS). This group of stocks are in the broadcasting – radio industry and their market caps are closest to P’s market cap.
