Insider Buying: PetMed Express, Inc. (NASDAQ:PETS) Major Shareholder Purchases 118,200 Shares of 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 company's stock in a transaction that occurred on Friday, August 1st. The stock was purchased at an average price of $3.21 per share, for a total transaction of $379,422.00. Following the purchase, the insider owned 2,478,696 shares in the company, valued at $7,956,614.16. This represents a 5.01% increase in their ownership of the stock. The transaction was disclosed in a legal filing with the SEC, which is available through this link. Major 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 bought 17,565 shares of PetMed Express stock. The shares were acquired at an average price 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 acquired at an average cost 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 shares were acquired at an average cost of $3.22 per share, for a total transaction of $9,070.74.
• On Tuesday, May 20th, Silvercape Investments Ltd acquired 7,401 shares of PetMed Express stock. The shares were acquired at an average cost of $3.95 per share, for a total transaction of $29,233.95.

PetMed Express Price Performance

PetMed Express stock traded down $0.01 during mid-day trading on Friday, reaching $3.10. 26,614 shares of the stock traded hands, compared to its average volume of 192,380. The stock has a market capitalization of $64.03 million, a PE ratio of 310.31 and a beta of 0.82. PetMed Express, Inc. has a 12-month low of $2.90 and a 12-month high of $6.85. The business's 50-day moving average is $3.47 and its 200-day moving average is $3.82.

Wall Street Analysts Forecast Growth

Several equities analysts have issued reports on the stock. Wall Street Zen cut shares of PetMed Express from a "hold" rating to a "sell" rating in a research note on Sunday, August 3rd. Morgan Stanley lowered their price objective on shares of PetMed Express from $3.50 to $3.20 and set an "underweight" rating on the stock in a research report on Thursday, April 17th.

Institutional Investors Weigh In On PetMed Express

Several hedge funds and other institutional investors have recently made changes to their positions in PETS. R Squared Ltd purchased a new position in shares of PetMed Express in the second quarter worth approximately $34,000. Quarry LP bought a new position in PetMed Express in the fourth quarter worth approximately $47,000. Boothbay Fund Management LLC purchased a new position in shares of PetMed Express during the 4th quarter worth $59,000. Squarepoint Ops LLC boosted its stake in shares of PetMed Express by 41.4% during the 4th quarter. Squarepoint Ops LLC now owns 17,686 shares of the company's stock worth $85,000 after acquiring an additional 5,180 shares during the last quarter. Finally, Blair William & Co. IL grew its position in shares of PetMed Express by 95.2% during the 4th quarter. Blair William & Co. IL now owns 20,300 shares of the company's stock valued at $98,000 after acquiring an additional 9,900 shares during the period. Hedge funds and other institutional investors own 73.33% of the company's stock.

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.