PetMed Express (NASDAQ:PETS) Announces Earnings Results

Key Points

• PetMed Express reported an earnings per share (EPS) of ($0.56) for the quarter, with revenues of $46.47 million.
• The company's stock currently has a market capitalization of $53.99 million, with an average price target set at $3.20 according to analyst ratings.
• Major shareholder Silvercape Investments Ltd increased their holdings by purchasing 101,000 shares, raising their position by 4.07%.

PetMed Express (NASDAQ:PETS - Get Free Report) posted its earnings results on Tuesday. The company reported ($0.56) EPS for the quarter, Zacks reports. The business had revenue of $46.47 million for the quarter.

PetMed Express Price Performance

PETS opened at $2.61 on Wednesday. PetMed Express has a 12 month low of $2.42 and a 12 month high of $6.85. The stock has a market capitalization of $53.99 million, a price-to-earnings ratio of 259.76 and a beta of 0.73. The business has a 50-day moving average of $2.85 and a two-hundred day moving average of $3.27.

Wall Street Analysts Forecast Growth

PETS has been the topic of several analyst reports. Wall Street Zen raised shares of PetMed Express from a "sell" rating to a "hold" rating in a report on Friday, September 5th. Weiss Ratings reaffirmed a "sell (d)" rating on shares of PetMed Express in a report on Wednesday, October 8th. Finally, Zacks Research raised PetMed Express from a "strong sell" rating to a "hold" rating in a report on Monday, September 29th. One analyst has rated the stock with a Hold rating and two have given a Sell rating to the company. According to MarketBeat, the stock currently has an average rating of "Sell" and an average price target of $3.20.

Insider Activity

In related news, major shareholder Silvercape Investments Ltd purchased 101,000 shares of PetMed Express stock in a transaction that occurred on Wednesday, August 13th. The shares were purchased at an average cost of $3.17 per share, with a total value of $320,170.00. Following the transaction, the insider owned 2,579,696 shares of the company's stock, valued at approximately $8,177,636.32. The trade was a 4.07% increase in their position. The purchase was disclosed in a filing with the SEC, which can be accessed through this link. In the last three months, insiders bought 268,466 shares of company stock worth $856,185. 1.10% of the stock is currently owned by insiders.

Institutional Investors Weigh In On PetMed Express

Several large investors have recently added to or reduced their stakes in PETS. Oxford Asset Management LLP bought a new position in shares of PetMed Express in the second quarter worth $55,000. Bridgeway Capital Management LLC grew its stake in shares of PetMed Express by 96.2% in the second quarter. Bridgeway Capital Management LLC now owns 40,800 shares of the company's stock worth $135,000 after purchasing an additional 20,000 shares in the last quarter. Occudo Quantitative Strategies LP bought a new position in PetMed Express during the second quarter valued at about $51,000. Finally, Goldman Sachs Group Inc. boosted its stake in PetMed Express by 59.3% during the first quarter. Goldman Sachs Group Inc. now owns 33,209 shares of the company's stock valued at $139,000 after buying an additional 12,360 shares in the last quarter. 73.33% of the stock is owned by institutional investors and hedge funds.

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.

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