Wag! Group Co. (NASDAQ:PET) Major Shareholder Purchases $46,500.00 in Stock

Wag! Group Co. (NASDAQ:PET) major shareholder John P. Szabo, Jr. purchased 50,000 shares of Wag! Group stock in a transaction that occurred on Monday, September 23rd. The stock was bought at an average cost of $0.93 per share, with a total value of $46,500.00. Following the completion of the transaction, the insider now owns 3,250,000 shares of the company’s stock, valued at $3,022,500. The acquisition was disclosed in a legal filing with the Securities & Exchange Commission, which is available at this hyperlink. Large shareholders that own 10% or more of a company’s stock are required to disclose their transactions with the SEC.

Wag! Group Stock Down 3.2 %

Wag! Group stock opened at $0.90 on Wednesday. The stock has a market capitalization of $36.55 million, a price-to-earnings ratio of -2.50 and a beta of 1.75. The company has a current ratio of 1.44, a quick ratio of 1.44 and a debt-to-equity ratio of 15.59. The stock has a 50 day moving average of $0.96 and a two-hundred day moving average of $1.54. Wag! Group Co. has a twelve month low of $0.66 and a twelve month high of $2.47.

Wag! Group (NASDAQ:PET) last posted its quarterly earnings data on Wednesday, August 7th. The company reported ($0.06) earnings per share for the quarter, meeting analysts’ consensus estimates of ($0.06). The firm had revenue of $18.65 million for the quarter, compared to analyst estimates of $18.60 million. Wag! Group had a negative net margin of 14.24% and a negative return on equity of 1,880.60%. As a group, research analysts expect that Wag! Group Co. will post -0.2 earnings per share for the current year.

Wall Street Analysts Forecast Growth

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

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 shares of Wag! Group Co. (NASDAQ:PET) during the 2nd quarter, according to the company in its most recent filing with the SEC. The fund bought 45,000 shares of the company’s stock, valued at approximately $72,000. Cowen AND Company LLC owned 0.11% of Wag! Group at the end of the most recent quarter. 86.16% of the stock is currently owned by institutional investors.

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.