PetMed Express, Inc. (NASDAQ:PETS) Major Shareholder Silvercape Investments Ltd Buys 101,000 Shares

Key Points

• Major shareholder Silvercape Investments Ltd has increased its stake in PetMed Express by purchasing 101,000 shares at $3.17 per share, totaling approximately $320,170.
• PetMed Express's stock is currently trading at $3.11, reflecting a 3.3% decrease during trading hours, with a market capitalization of $64.15 million.
• Recent analyst reports have downgraded PetMed Express, with Morgan Stanley reducing the price target from $3.50 to $3.20 and categorizing the stock as "underweight."

PetMed Express, Inc. (NASDAQ:PETS - Get Free Report) major shareholder Silvercape Investments Ltd acquired 101,000 shares of the stock in a transaction on Wednesday, August 13th. The shares were acquired at an average price of $3.17 per share, with a total value of $320,170.00. Following the transaction, the insider directly owned 2,579,696 shares of the company's stock, valued at $8,177,636.32. The trade was a 4.07% increase in their ownership of the stock. The purchase was disclosed in a filing with the Securities & Exchange Commission, which is accessible through the SEC website. Major shareholders that own 10% or more 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, August 1st, Silvercape Investments Ltd purchased 118,200 shares of PetMed Express stock. The stock was bought at an average price of $3.21 per share, with a total value of $379,422.00.
• 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 Thursday, July 17th, Silvercape Investments Ltd acquired 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 shares were bought at an average cost 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 shares were bought at an average price of $3.95 per share, for a total transaction of $29,233.95.

PetMed Express Stock Down 3.3%

PETS traded down $0.11 during trading hours on Thursday, reaching $3.11. 57,967 shares of the company's stock traded hands, compared to its average volume of 193,391. The firm has a 50-day moving average price of $3.41 and a 200 day moving average price of $3.77. The firm has a market capitalization of $64.15 million, a PE ratio of 309.31 and a beta of 0.82. PetMed Express, Inc. has a 52-week low of $2.81 and a 52-week high of $6.85.

Analysts Set New Price Targets

A number of research analysts have weighed in on PETS shares. Morgan Stanley cut 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. Wall Street Zen downgraded shares of PetMed Express from a "hold" rating to a "sell" rating in a report on Sunday, August 3rd.

Hedge Funds Weigh In On PetMed Express

A number of large investors have recently bought and sold shares of the business. Truffle Hound Capital LLC acquired a new position in PetMed Express during the 2nd quarter valued at approximately $399,000. Metavasi Capital LP boosted its holdings in PetMed Express by 48.5% during the fourth quarter. Metavasi Capital LP now owns 340,302 shares of the company's stock worth $1,640,000 after buying an additional 111,194 shares in the last quarter. Formidable Asset Management LLC boosted its stake in shares of PetMed Express by 394.5% during the 4th quarter. Formidable Asset Management LLC now owns 135,251 shares of the company's stock worth $652,000 after acquiring an additional 107,902 shares in the last quarter. JPMorgan Chase & Co. increased its position in shares of PetMed Express by 355.5% in the fourth quarter. JPMorgan Chase & Co. now owns 106,954 shares of the company's stock valued at $516,000 after buying an additional 83,473 shares in the last quarter. Finally, Universal Beteiligungs und Servicegesellschaft mbH acquired a new position in PetMed Express during the first quarter worth $295,000. 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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