Formidable Asset Management LLC Has $652,000 Stake in PetMed Express, Inc. (NASDAQ:PETS)

Formidable Asset Management LLC boosted its holdings in shares of PetMed Express, Inc. (NASDAQ:PETS - Free Report) by 394.5% during the 4th quarter, according to the company in its most recent disclosure with the SEC. The institutional investor owned 135,251 shares of the company's stock after acquiring an additional 107,902 shares during the quarter. Formidable Asset Management LLC owned approximately 0.65% of PetMed Express worth $652,000 at the end of the most recent reporting period.

A number of other institutional investors have also recently added to or reduced their stakes in PETS. R Squared Ltd bought a new position in PetMed Express during the fourth quarter worth $31,000. Quarry LP acquired a new stake in PetMed Express in the 4th quarter worth $47,000. Virtu Financial LLC bought a new position in shares of PetMed Express during the 4th quarter worth about $58,000. Boothbay Fund Management LLC acquired a new position in shares of PetMed Express during the fourth quarter valued at about $59,000. Finally, Squarepoint Ops LLC lifted its stake in shares of PetMed Express by 41.4% in the fourth quarter. Squarepoint Ops LLC now owns 17,686 shares of the company's stock valued at $85,000 after buying an additional 5,180 shares during the period. 73.33% of the stock is currently owned by institutional investors and hedge funds.

PetMed Express Stock Performance

Shares of NASDAQ PETS traded down $0.09 during trading on Friday, reaching $3.69. The company had a trading volume of 11,467 shares, compared to its average volume of 271,107. PetMed Express, Inc. has a 52 week low of $2.90 and a 52 week high of $6.85. The business's 50 day moving average price is $3.57 and its 200-day moving average price is $4.37. The stock has a market cap of $76.22 million, a PE ratio of 369.97 and a beta of 0.76.

Wall Street Analyst Weigh In

PETS has been the topic of several research reports. Morgan Stanley lowered their price target on PetMed Express from $3.50 to $3.20 and set an "underweight" rating on the stock in a research note on Thursday, April 17th. Wall Street Zen cut PetMed Express from a "buy" rating to a "hold" rating in a research report on Wednesday, May 7th.

Insider Buying and Selling

In other news, major shareholder Silvercape Investments Ltd acquired 7,401 shares of the company's stock in a transaction on Tuesday, May 20th. The stock was purchased at an average cost of $3.95 per share, with a total value of $29,233.95. Following the acquisition, the insider now owns 2,307,719 shares of the company's stock, valued at $9,115,490.05. This trade represents a 0.32% increase in their position. The acquisition was disclosed in a document filed with the Securities & Exchange Commission, which is available at this link. Also, CEO Sandra Yvette Campos sold 60,463 shares of PetMed Express stock in a transaction that occurred on Wednesday, April 30th. The stock was sold at an average price of $3.31, for a total transaction of $200,132.53. Following the sale, the chief executive officer now owns 578,524 shares of the company's stock, valued at approximately $1,914,914.44. This represents a 9.46% decrease in their position. The disclosure for this sale can be found here. 1.10% of the stock is currently owned by corporate insiders.

PetMed Express Profile

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.