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

PetMed Express, Inc. (NASDAQ:PETS - Get Free Report) saw a large decline in short interest during the month of May. As of May 15th, there was short interest totalling 1,270,000 shares, a decline of 14.2% from the April 30th total of 1,480,000 shares. Approximately 8.8% of the company's shares are sold short. Based on an average trading volume of 180,100 shares, the short-interest ratio is currently 7.1 days.

PetMed Express Stock Performance

Shares of PetMed Express stock traded down $0.01 during trading on Friday, reaching $3.96. The company had a trading volume of 107,216 shares, compared to its average volume of 268,173. PetMed Express has a fifty-two week low of $2.90 and a fifty-two week high of $6.85. The firm's fifty day moving average is $3.54 and its 200-day moving average is $4.34. The company has a market cap of $81.80 million, a price-to-earnings ratio of 396.40 and a beta of 0.81.

Insider Buying and Selling at PetMed Express

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

Institutional Trading of PetMed Express

A number of institutional investors and hedge funds have recently modified their holdings of PETS. Geode Capital Management LLC grew its position in shares of PetMed Express by 1.6% during the 4th quarter. Geode Capital Management LLC now owns 224,788 shares of the company's stock valued at $1,084,000 after buying an additional 3,558 shares during the last quarter. Dimensional Fund Advisors LP boosted its stake in PetMed Express by 2.1% in the fourth quarter. Dimensional Fund Advisors LP now owns 216,812 shares of the company's stock valued at $1,045,000 after acquiring an additional 4,410 shares during the period. American Century Companies Inc. boosted its stake in PetMed Express by 15.3% in the fourth quarter. American Century Companies Inc. now owns 33,662 shares of the company's stock valued at $162,000 after acquiring an additional 4,459 shares during the period. Squarepoint Ops LLC grew its holdings in shares of PetMed Express by 41.4% during the fourth quarter. Squarepoint Ops LLC now owns 17,686 shares of the company's stock valued at $85,000 after purchasing an additional 5,180 shares during the last quarter. Finally, Northern Trust Corp raised its position in shares of 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 purchasing an additional 5,953 shares during the period. 73.33% of the stock is owned by institutional investors and hedge funds.

Analysts Set New Price Targets

Several equities analysts recently weighed in on the stock. 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 cut their price objective 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.

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.