Silvercape Investments Ltd Purchases 17,565 Shares of PetMed Express, Inc. (NASDAQ:PETS) Stock

PetMed Express, Inc. (NASDAQ:PETS - Get Free Report) major shareholder Silvercape Investments Ltd acquired 17,565 shares of the stock in a transaction dated Friday, July 18th. The stock was acquired at an average cost of $3.23 per share, with a total value of $56,734.95. Following the purchase, the insider owned 2,360,496 shares of the company's stock, valued at approximately $7,624,402.08. This trade represents a 0.75% increase in their position. The purchase was disclosed in a document filed with the Securities & Exchange Commission, which is available through the SEC website. Major shareholders that own more than 10% of a company's shares are required to disclose their sales and purchases with the SEC.

Silvercape Investments Ltd also recently made the following trade(s):

• On Thursday, July 17th, Silvercape Investments Ltd purchased 31,701 shares of PetMed Express stock. The stock was purchased at an average price of $3.15 per share, with a total value of $99,858.15.
• On Wednesday, July 2nd, Silvercape Investments Ltd purchased 2,817 shares of PetMed Express stock. The stock was purchased at an average price of $3.22 per share, with a total value of $9,070.74.
• On Tuesday, May 20th, Silvercape Investments Ltd purchased 7,401 shares of PetMed Express stock. The stock was purchased at an average price of $3.95 per share, with a total value of $29,233.95.

PetMed Express Trading Up 4.9%

Shares of NASDAQ:PETS traded up $0.19 on Thursday, reaching $3.95. 222,033 shares of the company were exchanged, compared to its average volume of 194,611. PetMed Express, Inc. has a 1-year low of $2.90 and a 1-year high of $6.85. The firm has a market cap of $81.49 million, a price-to-earnings ratio of 394.89 and a beta of 0.78. The company has a 50-day moving average of $3.57 and a 200-day moving average of $3.94.

Hedge Funds Weigh In On PetMed Express

A number of institutional investors and hedge funds have recently made changes to their positions in the stock. Quarry LP purchased a new position in PetMed Express during the 4th quarter valued at about $47,000. Virtu Financial LLC purchased a new position in PetMed Express during the 4th quarter valued at about $58,000. Boothbay Fund Management LLC purchased a new position in PetMed Express during the 4th quarter valued at about $59,000. Squarepoint Ops LLC increased its holdings in PetMed Express by 41.4% during the 4th quarter. Squarepoint Ops LLC now owns 17,686 shares of the company's stock valued at $85,000 after acquiring an additional 5,180 shares in the last quarter. Finally, Diametric Capital LP purchased a new position in PetMed Express during the 4th quarter valued at about $86,000. 73.33% of the stock is owned by institutional investors and hedge funds.

Wall Street Analysts Forecast Growth

PETS has been the subject of a number of recent research reports. Morgan Stanley decreased their price target on shares of PetMed Express from $3.50 to $3.20 and set an "underweight" rating for the company in a research note on Thursday, April 17th. Wall Street Zen cut shares of PetMed Express from a "hold" rating to a "sell" rating in a research note on Saturday, June 21st.

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.