Insider Buying: Wag! Group Co. (NASDAQ:PET) Major Shareholder Acquires $50,445.58 in Stock

Wag! Group Co. (NASDAQ:PET) major shareholder John P. Szabo, Jr. acquired 61,519 shares of the company’s stock in a transaction that occurred on Thursday, September 19th. The stock was acquired at an average price of $0.82 per share, with a total value of $50,445.58. Following the acquisition, the insider now owns 3,061,519 shares in the company, valued at $2,510,445.58. The transaction was disclosed in a filing with the Securities & Exchange Commission, which is available through this hyperlink. Large shareholders that own more than 10% of a company’s stock are required to disclose their transactions with the SEC.

Wag! Group Stock Down 2.2 %

Wag! Group stock opened at $0.88 on Thursday. The firm has a 50 day moving average price of $0.95 and a two-hundred day moving average price of $1.54. The company has a debt-to-equity ratio of 15.59, a quick ratio of 1.44 and a current ratio of 1.44. Wag! Group Co. has a 52-week low of $0.66 and a 52-week high of $2.47. The firm has a market cap of $35.75 million, a price-to-earnings ratio of -2.44 and a beta of 1.75.

Wag! Group (NASDAQ:PET) last announced its earnings results on Wednesday, August 7th. The company reported ($0.06) earnings per share for the quarter, hitting analysts’ consensus estimates of ($0.06). The business had revenue of $18.65 million during the quarter, compared to the consensus estimate of $18.60 million. Wag! Group had a negative net margin of 14.24% and a negative return on equity of 1,880.60%. Equities analysts predict that Wag! Group Co. will post -0.2 EPS for the current year.

Institutional Inflows and Outflows

A hedge fund recently bought a new stake in Wag! Group stock. Cowen AND Company LLC bought a new position in Wag! Group Co. (NASDAQ:PET) in the second quarter, according to its most recent filing with the Securities and Exchange Commission (SEC). The fund bought 45,000 shares of the company’s stock, valued at approximately $72,000. Cowen AND Company LLC owned approximately 0.11% of Wag! Group as of its most recent filing with the Securities and Exchange Commission (SEC). 86.16% of the stock is currently owned by institutional investors.

Wall Street Analyst Weigh In

Several brokerages have issued reports on PET. Lake Street Capital initiated coverage on shares of Wag! Group in a research report on Thursday, May 30th. They issued a “buy” rating and a $4.00 price target for the company. Roth Mkm decreased their price objective on Wag! Group from $4.00 to $3.50 and set a “buy” rating for the company in a report on Tuesday, July 16th. Finally, Oppenheimer lowered their target price on Wag! Group from $6.00 to $3.00 and set an “outperform” rating for the company in a research report on Friday, August 9th. Five equities research analysts have rated the stock with a buy rating, According to data from MarketBeat, Wag! Group currently has an average rating of “Buy” and an average target price of $4.40.

About Wag! Group

Wag! Group Co develops and supports a proprietary marketplace technology platform available as a website and mobile app that enables independent pet caregivers to connect with pet parents. Its platform allows pet parents, who require specific pet care services, such as dog walking, pet sitting and boarding, advice from licensed pet experts, home visits, training, and pet insurance comparison tools.