PetMed Express (NASDAQ:PETS) Rating Increased to Hold at Wall Street Zen

Key Points

• PetMed Express has been upgraded from a "sell" rating to a "hold" rating by analysts at Wall Street Zen, reflecting a positive shift in investor sentiment.
• Major shareholder Silvercape Investments Ltd increased their stake by acquiring 118,200 shares of PetMed Express at an average price of $3.21 each, signaling confidence in the company's future.
• Institutional investors own 73.33% of PetMed Express's stock, indicating strong institutional support and interest in the company.

PetMed Express (NASDAQ:PETS - Get Free Report) was upgraded by stock analysts at Wall Street Zen from a "sell" rating to a "hold" rating in a note issued to investors on Friday.

PetMed Express Price Performance

NASDAQ:PETS opened at $3.05 on Friday. The firm has a 50 day simple moving average of $3.23 and a 200-day simple moving average of $3.57. The firm has a market cap of $63.00 million, a PE ratio of 305.31 and a beta of 0.77. PetMed Express has a 1-year low of $2.81 and a 1-year high of $6.85.

Insider Buying and Selling at PetMed Express

In other news, major shareholder Silvercape Investments Ltd acquired 118,200 shares of the business's stock in a transaction dated Friday, August 1st. The stock was acquired at an average price of $3.21 per share, with a total value of $379,422.00. Following the completion of the transaction, the insider directly owned 2,478,696 shares in the company, valued at approximately $7,956,614.16. This represents a 5.01% increase in their position. The acquisition was disclosed in a document filed with the SEC, which is available at this hyperlink. Insiders have purchased a total of 271,283 shares of company stock valued at $865,256 over the last ninety days. Insiders own 1.10% of the company's stock.

Hedge Funds Weigh In On PetMed Express

Institutional investors have recently modified their holdings of the company. R Squared Ltd purchased a new stake in PetMed Express in the second quarter valued at approximately $34,000. Occudo Quantitative Strategies LP purchased a new stake in PetMed Express in the second quarter valued at approximately $51,000. Oxford Asset Management LLP purchased a new stake in PetMed Express in the second quarter valued at approximately $55,000. Squarepoint Ops LLC grew its holdings in 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 purchasing an additional 5,180 shares during the period. Finally, Goldman Sachs Group Inc. grew its holdings in PetMed Express by 59.3% in the first quarter. Goldman Sachs Group Inc. now owns 33,209 shares of the company's stock valued at $139,000 after purchasing an additional 12,360 shares during the period. Institutional investors and hedge funds own 73.33% of the company's stock.

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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