Dear Valued Visitor,

We have noticed that you are using an ad blocker software.

Although advertisements on the web pages may degrade your experience, our business certainly depends on them and we can only keep providing you high-quality research based articles as long as we can display ads on our pages.

To view this article, you can disable your ad blocker and refresh this page or simply login.

We only allow registered users to use ad blockers. You can sign up for free by clicking here or you can login if you are already a member.

Crosslink Capital Cuts Stake in Pandora Media Inc (P); ESL Investments Sells Some More AutoNation, Inc. (AN) Shares

Crosslink Capital, managed by Seymour Sy Kaufman and Michael Stark, has further reduced its exposure to Pandora Media Inc (NYSE:P). According to a recent Form 4 filing with the Securities and Exchange Commission, the fund has disposed of 200,000 shares at a price of $37.31 each. Following this transaction, Crosslink Capital is left with a little more than 18 million shares.

ESL INVESTMENTS

Pandora Media Inc (NYSE:P)  has a market cap of $7.7 billion and does not pay a dividend. Shares are traded at a forward Price to Earnings (P/E) ratio of 85.33 and have a beta of 0.54. For the three months ended October 31, 2013, the company reported revenues of $120 million and earnings of $0.01 per share. Analysts expect Pandora Media to increase its revenues in the current quarter, with estimates around $175 million, while the earnings per share are expected to go into red, with market participants expecting a loss of $0.14 per share.

In another filing, Edward Lampert‘s ESL Investments has further reduced its stake in AutoNation, Inc. (NYSE:AN). A recent filing with the Securities and Exchange Commission has revealed that Lampert sold more than 1.8 million shares in 15 transactions at prices varying between $51.2 and $52 per unit. As a result, ESL Investments is left with 27.4 million shares, of which 14.4 are directly owned.

An automotive retailer, AutoNation, Inc. (NYSE:AN) has a market cap of $6.24 billion and does not pay a dividend. Shares are currently traded at a trailing P/E ratio of 17.22 and have a beta of 0.94. For the fourth quarter of 2013, the company registered revenues of $4.52 billion and earnings of $0.89 per diluted share. Market analysts expect the company to perform a little worse in the current quarter, expecting revenues of $4.37 billion and EPS of $0.76.

Disclosure: none.

Recommended reading:

Corvex Capital Ups Its Stake in Williams Companies, Inc. (WMB); Soroban’s Eric Mandelblatt To Join Company’s Board

Hedge Fund News: Carl Icahn, John Paulson & Paul Singer

Elliott Management Nominates Directors to Juniper Networks (JNPR)’s Board

Biotech Stock Alert - 20% Guaranteed Return in One Year

Hedge Funds and Insiders Are Piling Into

One of 2015's best hedge funds and two insiders snapped up shares of this medical device stock recently. We believe its transformative and disruptive device will storm the $3+ billion market and help it achieve 500%-1000% gains in 3 years.

Get your FREE REPORT and the details of our 20% return guarantee today.

Subscribe me to Insider Monkey's Free Daily Newsletter
This is a FREE report from Insider Monkey. Credit Card is NOT required.
Loading Comments...
X

Thanks! An email with instructions is sent to !

Your email already exists in our database. Click here to go to your subscriptions

Insider Monkey returned 102% in 3 years!! Wondering How?

Download a complete edition of our newsletter for free!