PetMed Express, Inc. (NASDAQ:PETS) Short Interest Update

PetMed Express, Inc. (NASDAQ:PETS - Get Free Report) saw a significant increase in short interest in the month of May. As of May 31st, there was short interest totalling 1,630,000 shares, an increase of 28.3% from the May 15th total of 1,270,000 shares. Based on an average daily volume of 158,900 shares, the short-interest ratio is presently 10.3 days. Currently, 11.3% of the shares of the company are short sold.

Insider Transactions at PetMed Express

In related news, CEO Sandra Yvette Campos sold 60,463 shares of the stock in a transaction that occurred on Wednesday, April 30th. The stock was sold at an average price of $3.31, for a total transaction of $200,132.53. Following the sale, the chief executive officer now owns 578,524 shares of the company's stock, valued at $1,914,914.44. This represents a 9.46% decrease in their ownership of the stock. The sale was disclosed in a filing with the SEC, which is available through the SEC website. Also, major shareholder Silvercape Investments Ltd acquired 7,401 shares of the company's stock in a transaction on Tuesday, May 20th. The stock was bought at an average cost of $3.95 per share, with a total value of $29,233.95. Following the completion of the acquisition, the insider now directly owns 2,307,719 shares in the company, valued at approximately $9,115,490.05. This represents a 0.32% increase in their ownership of the stock. The disclosure for this purchase can be found here. 1.10% of the stock is owned by corporate insiders.

Hedge Funds Weigh In On PetMed Express

Large investors have recently bought and sold shares of the company. Squarepoint Ops LLC increased its stake in shares of PetMed Express by 41.4% in the fourth 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 period. Northern Trust Corp grew its holdings in PetMed Express by 13.2% during the 4th quarter. Northern Trust Corp now owns 51,116 shares of the company's stock worth $246,000 after acquiring an additional 5,953 shares during the last quarter. Bank of America Corp DE increased its position in PetMed Express by 34.0% in 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 increased its position in PetMed Express by 26.5% in 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 raised its stake in shares of PetMed Express by 394.5% during the fourth 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 last quarter. 73.33% of the stock is currently owned by institutional investors.

PetMed Express Trading Down 5.3%

NASDAQ PETS traded down $0.18 during trading on Friday, hitting $3.24. 187,176 shares of the company's stock were exchanged, compared to its average volume of 256,321. The stock's 50 day moving average price is $3.60 and its two-hundred day moving average price is $4.26. PetMed Express has a fifty-two week low of $2.90 and a fifty-two week high of $6.85. The company has a market cap of $66.94 million, a PE ratio of 324.32 and a beta of 0.81.

Analyst Upgrades and Downgrades

Several research firms have commented on PETS. Wall Street Zen lowered shares of PetMed Express from a "buy" rating to a "hold" rating in a report on Wednesday, May 7th. Morgan Stanley decreased 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 note 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.