Silvercape Investments Ltd Acquires 118,200 Shares of PetMed Express, Inc. (NASDAQ:PETS) Stock

Key Points

• Major shareholder Silvercape Investments Ltd acquired 118,200 shares of PetMed Express stock for a total of $379,422, increasing their ownership by 5.01% to approximately 2.48 million shares.
• PetMed Express stock price rose 1.4% to $3.29, with a market cap of $67.87 million despite recent downgrades from analysts.
• Several institutional investors, including American Century Companies and JPMorgan Chase, have significantly increased their stakes in PetMed Express, indicating strong investor interest.

PetMed Express, Inc. (NASDAQ:PETS - Get Free Report) major shareholder Silvercape Investments Ltd purchased 118,200 shares of the business's stock in a transaction on Friday, August 1st. The stock was purchased at an average cost of $3.21 per share, for a total transaction of $379,422.00. Following the acquisition, the insider owned 2,478,696 shares in the company, valued at approximately $7,956,614.16. The trade was a 5.01% increase in their ownership of the stock. The transaction was disclosed in a document filed with the SEC, which is available through the SEC website. Large shareholders that own more than 10% of a company's stock are required to disclose their sales and purchases with the SEC.

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

• On Friday, July 18th, Silvercape Investments Ltd purchased 17,565 shares of PetMed Express stock. The stock was purchased at an average cost of $3.23 per share, for a total transaction of $56,734.95.
• On Thursday, July 17th, Silvercape Investments Ltd bought 31,701 shares of PetMed Express stock. The stock was bought at an average cost of $3.15 per share, with a total value of $99,858.15.
• On Wednesday, July 2nd, Silvercape Investments Ltd bought 2,817 shares of PetMed Express stock. The stock was bought at an average cost of $3.22 per share, with a total value of $9,070.74.
• On Tuesday, May 20th, Silvercape Investments Ltd bought 7,401 shares of PetMed Express stock. The stock was bought at an average cost of $3.95 per share, with a total value of $29,233.95.

PetMed Express Price Performance

NASDAQ PETS traded up $0.02 during trading hours on Wednesday, reaching $3.18. 31,058 shares of the company's stock traded hands, compared to its average volume of 193,479. PetMed Express, Inc. has a 52-week low of $2.90 and a 52-week high of $6.85. The firm has a market cap of $65.70 million, a PE ratio of 318.32 and a beta of 0.82. The firm has a 50-day simple moving average of $3.49 and a 200 day simple moving average of $3.84.

Institutional Inflows and Outflows

Large investors have recently bought and sold shares of the business. Squarepoint Ops LLC lifted its position 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 during the period. Northern Trust Corp lifted its position in PetMed Express by 13.2% during the 4th quarter. Northern Trust Corp now owns 51,116 shares of the company's stock valued at $246,000 after acquiring an additional 5,953 shares during the period. Bank of America Corp DE lifted its position in PetMed Express by 34.0% during the 4th quarter. Bank of America Corp DE now owns 106,372 shares of the company's stock valued at $513,000 after acquiring an additional 26,984 shares during the period. Arrowstreet Capital Limited Partnership lifted its position in PetMed Express by 26.5% during the 4th quarter. Arrowstreet Capital Limited Partnership now owns 513,381 shares of the company's stock valued at $2,474,000 after acquiring an additional 107,614 shares during the period. Finally, Formidable Asset Management LLC lifted its position in PetMed Express by 394.5% during the 4th quarter. Formidable Asset Management LLC now owns 135,251 shares of the company's stock valued at $652,000 after acquiring an additional 107,902 shares during the period. 73.33% of the stock is owned by hedge funds and other institutional investors.

Wall Street Analysts Forecast Growth

PETS has been the subject of several research analyst reports. Wall Street Zen cut shares of PetMed Express from a "hold" rating to a "sell" rating in a research report on Sunday. Morgan Stanley dropped their target price on shares of PetMed Express from $3.50 to $3.20 and set an "underweight" rating for the company in a research report on Thursday, April 17th.

PetMed Express Company 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.