PetMed Express, Inc. (NASDAQ:PETS) Short Interest Up 28.3% in May

PetMed Express, Inc. (NASDAQ:PETS - Get Free Report) was the target of 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. Currently, 11.3% of the company's shares are short sold. Based on an average daily trading volume, of 158,900 shares, the short-interest ratio is currently 10.3 days.

Insider Activity at PetMed Express

In other PetMed Express news, major shareholder Silvercape Investments Ltd purchased 7,401 shares of the company's stock in a transaction on Tuesday, May 20th. The shares were purchased at an average cost of $3.95 per share, with a total value of $29,233.95. Following the completion of the purchase, the insider now owns 2,307,719 shares in the company, valued at $9,115,490.05. This represents a 0.32% increase in their ownership of the stock. The transaction was disclosed in a document filed with the Securities & Exchange Commission, which is available at the SEC website. Also, CEO Sandra Yvette Campos sold 60,463 shares of the firm's 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 directly owns 578,524 shares of the company's stock, valued at approximately $1,914,914.44. This trade represents a 9.46% decrease in their position. The disclosure for this sale can be found here. 1.10% of the stock is owned by company insiders.

Institutional Investors Weigh In On PetMed Express

A number of hedge funds and other institutional investors have recently bought and sold shares of the business. Squarepoint Ops LLC lifted its holdings in 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 purchasing an additional 5,180 shares in the last quarter. Northern Trust Corp grew its position in PetMed Express by 13.2% during the fourth quarter. Northern Trust Corp now owns 51,116 shares of the company's stock valued at $246,000 after acquiring an additional 5,953 shares during the last quarter. Bank of America Corp DE raised 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 worth $513,000 after purchasing an additional 26,984 shares during the period. Arrowstreet Capital Limited Partnership lifted its stake in shares of 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 last quarter. Finally, Formidable Asset Management LLC boosted 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 purchasing an additional 107,902 shares during the period. Institutional investors own 73.33% of the company's stock.

Wall Street Analyst Weigh In

Several equities research analysts have recently commented on PETS shares. Wall Street Zen downgraded PetMed Express from a "buy" rating to a "hold" rating in a report on Wednesday, May 7th. Morgan Stanley decreased their target price on PetMed Express from $3.50 to $3.20 and set an "underweight" rating for the company in a research report on Thursday, April 17th.

PetMed Express Stock Performance

NASDAQ:PETS traded down $0.04 during trading hours on Tuesday, reaching $3.56. The stock had a trading volume of 15,069 shares, compared to its average volume of 257,668. The stock has a market cap of $73.47 million, a P/E ratio of 352.85 and a beta of 0.81. The stock has a 50 day simple moving average of $3.59 and a 200 day simple moving average of $4.29. PetMed Express has a 12-month low of $2.90 and a 12-month high of $6.85.

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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