PetMed Express, Inc. (NASDAQ:PETS) Major Shareholder Acquires $99,858.15 in Stock

PetMed Express, Inc. (NASDAQ:PETS - Get Free Report) major shareholder Silvercape Investments Ltd bought 31,701 shares of the firm's stock in a transaction that occurred on Thursday, July 17th. The shares were acquired at an average cost of $3.15 per share, for a total transaction of $99,858.15. Following the purchase, the insider directly owned 2,342,931 shares in the company, valued at $7,380,232.65. This trade represents a 1.37% increase in their position. The transaction was disclosed in a filing with the Securities & Exchange Commission, which is available at this hyperlink. Large shareholders that own 10% or more 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 Wednesday, July 2nd, Silvercape Investments Ltd acquired 2,817 shares of PetMed Express stock. The shares were bought at an average price of $3.22 per share, for a total transaction of $9,070.74.
• On Tuesday, May 20th, Silvercape Investments Ltd purchased 7,401 shares of PetMed Express stock. The stock was bought at an average price of $3.95 per share, for a total transaction of $29,233.95.

PetMed Express Price Performance

Shares of PETS traded up $0.11 during midday trading on Friday, hitting $3.23. The stock had a trading volume of 59,832 shares, compared to its average volume of 226,282. The stock's 50 day moving average is $3.59 and its 200 day moving average is $3.98. The firm has a market cap of $66.63 million, a PE ratio of 323.22 and a beta of 0.78. PetMed Express, Inc. has a 1 year low of $2.90 and a 1 year high of $6.85.

Analyst Ratings Changes

A number of equities research analysts recently commented on PETS shares. Morgan Stanley decreased their target price on PetMed Express from $3.50 to $3.20 and set an "underweight" rating on the stock in a research report on Thursday, April 17th. Wall Street Zen cut shares of PetMed Express from a "hold" rating to a "sell" rating in a research report on Saturday, June 21st.

Institutional Trading of PetMed Express

Several institutional investors have recently added to or reduced their stakes in the company. Quarry LP bought a new position in PetMed Express in the 4th quarter worth about $47,000. Virtu Financial LLC purchased a new position in shares of PetMed Express in the fourth quarter worth $58,000. Boothbay Fund Management LLC purchased a new position in shares of PetMed Express in the fourth quarter worth about $59,000. Squarepoint Ops LLC raised 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 valued at $85,000 after buying an additional 5,180 shares during the last quarter. Finally, Diametric Capital LP purchased a new stake in PetMed Express during the fourth quarter worth $86,000. Institutional investors own 73.33% of the company's stock.

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.

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