Insider Buying: PetMed Express, Inc. (NASDAQ:PETS) Major Shareholder Acquires 12,500 Shares of Stock

PetMed Express, Inc. (NASDAQ:PETS) major shareholder Nina Capital Holdings Inc. purchased 12,500 shares of the business’s stock in a transaction that occurred on Monday, September 9th. The stock was bought at an average price of $3.34 per share, for a total transaction of $41,750.00. Following the purchase, the insider now directly owns 2,078,000 shares in the company, valued at $6,940,520. The trade was a 0.00 % increase in their ownership of the stock. The acquisition was disclosed in a legal filing with the SEC, which is accessible through the SEC website. Major shareholders that own 10% or more of a company’s shares are required to disclose their transactions with the SEC.

PetMed Express Trading Up 0.3 %

PETS traded up $0.01 during trading on Friday, hitting $3.98. 84,341 shares of the company’s stock traded hands, compared to its average volume of 340,601. The company’s 50 day simple moving average is $3.49 and its two-hundred day simple moving average is $3.91. PetMed Express, Inc. has a 12-month low of $2.90 and a 12-month high of $10.53. The stock has a market capitalization of $81.99 million, a price-to-earnings ratio of -23.41 and a beta of 0.71.

PetMed Express (NASDAQ:PETS) last issued its earnings results on Tuesday, August 6th. The company reported $0.18 EPS for the quarter, beating the consensus estimate of ($0.12) by $0.30. PetMed Express had a negative return on equity of 3.44% and a negative net margin of 1.24%. The business had revenue of $67.95 million for the quarter, compared to the consensus estimate of $77.52 million. On average, equities analysts expect that PetMed Express, Inc. will post 0.08 EPS for the current year.

Analysts Set New Price Targets

Separately, Lake Street Capital restated a “hold” rating and issued a $3.50 price target (down previously from $7.00) on shares of PetMed Express in a research note on Wednesday, August 7th.

Institutional Trading of PetMed Express

Several institutional investors have recently added to or reduced their stakes in the business. Vanguard Group Inc. boosted its stake in PetMed Express by 0.8% during the 1st quarter. Vanguard Group Inc. now owns 1,186,485 shares of the company’s stock valued at $5,683,000 after purchasing an additional 9,226 shares during the last quarter. Mirae Asset Global Investments Co. Ltd. lifted its holdings in shares of PetMed Express by 2,025.9% during the 1st quarter. Mirae Asset Global Investments Co. Ltd. now owns 700,916 shares of the company’s stock valued at $3,357,000 after buying an additional 667,946 shares during the period. Federated Hermes Inc. lifted its holdings in shares of PetMed Express by 54.5% during the 2nd quarter. Federated Hermes Inc. now owns 606,430 shares of the company’s stock valued at $2,456,000 after buying an additional 213,903 shares during the period. Cubist Systematic Strategies LLC bought a new position in shares of PetMed Express during the 2nd quarter valued at $797,000. Finally, Price T Rowe Associates Inc. MD lifted its holdings in shares of PetMed Express by 48.4% during the 1st quarter. Price T Rowe Associates Inc. MD now owns 129,229 shares of the company’s stock valued at $620,000 after buying an additional 42,125 shares during the period. 73.33% of the stock is currently owned by hedge funds and other institutional investors.

About PetMed Express

PetMed Express, Inc, together with its subsidiaries, operates as a pet pharmacy in the United States. The company markets prescription and non-prescription pet medications, health products, and other supplies for dogs, cats, and horses. It offers non-prescription medications and supplies, such as flea and tick control products, bone and joint care products, vitamins, treats, nutritional supplements, hygiene products, and household pet supplies; and prescription medications, including heartworm preventatives, flea and tick preventatives, arthritis, dermatitis, thyroid, diabetes, pain medications, heart/blood pressure, and other specialty medications, as well as generic substitutes.