Silvercape Investments Ltd Purchases 31,701 Shares of PetMed Express, Inc. (NASDAQ:PETS) Stock

PetMed Express, Inc. (NASDAQ:PETS - Get Free Report) major shareholder Silvercape Investments Ltd purchased 31,701 shares of the stock in a transaction on Thursday, July 17th. The stock was acquired at an average cost of $3.15 per share, for a total transaction of $99,858.15. Following the acquisition, the insider owned 2,342,931 shares in the company, valued at approximately $7,380,232.65. This represents a 1.37% increase in their ownership of the stock. The acquisition was disclosed in a filing with the SEC, which is available through this link. Large shareholders that own at least 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 acquired 17,565 shares of PetMed Express stock. The shares were bought at an average price of $3.23 per share, for a total transaction of $56,734.95.
• On Wednesday, July 2nd, Silvercape Investments Ltd bought 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 acquired at an average cost of $3.95 per share, with a total value of $29,233.95.

PetMed Express Trading Up 4.5%

PETS stock traded up $0.15 during midday trading on Monday, hitting $3.46. The company's stock had a trading volume of 244,575 shares, compared to its average volume of 226,452. The firm's 50-day moving average is $3.58 and its 200-day moving average is $3.96. PetMed Express, Inc. has a 12 month low of $2.90 and a 12 month high of $6.85. The company has a market cap of $71.48 million, a PE ratio of 346.35 and a beta of 0.78.

Analyst Upgrades and Downgrades

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

Institutional Inflows and Outflows

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

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.