Lone Pine Capital Starts Pandora Stake ~ market folly

Friday, October 4, 2013

Lone Pine Capital Starts Pandora Stake

Steve Mandel's hedge fund firm Lone Pine Capital has filed a 13G with the SEC regarding shares of Pandora (P).  Per the filing, Lone Pine has revealed a 5.3% ownership stake in P with 10,085,216 shares.

This is a brand new position for the hedge fund and the filing was required due to activity on September 23rd.  It's worth highlighting that the company announced a secondary offering in September as well.

Pandora operates in the internet radio segment and shares have been on a tear this year.  Recently, some investors have questioned whether Apple's entrance into the space via their iTunes radio offering will hurt P. 

For more from this hedge fund, head to more recent portfolio activity from Lone Pine.

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