PetMed Express (NASDAQ:PETS) Rating Increased to Hold at Zacks Research

Key Points

• Zacks Research upgraded PetMed Express from a "strong sell" to a "hold" rating, which may impact investor sentiment toward the stock.
• Insider trading activity saw major shareholder Silvercape Investments Ltd purchase 118,200 shares at an average price of $3.21, indicating confidence in the company's future.
• PetMed Express currently has a market cap of $51.86 million and a consensus target price of $3.20, suggesting limited upside potential from its current trading price.

PetMed Express (NASDAQ:PETS - Get Free Report) was upgraded by Zacks Research from a "strong sell" rating to a "hold" rating in a report released on Monday,Zacks.com reports.

Separately, Wall Street Zen upgraded PetMed Express from a "sell" rating to a "hold" rating in a research report on Friday, September 5th. One analyst has rated the stock with a Hold rating and one has given a Sell rating to the stock. Based on data from MarketBeat.com, PetMed Express presently has a consensus rating of "Reduce" and a consensus target price of $3.20.

PetMed Express Price Performance

Shares of PetMed Express stock opened at $2.51 on Monday. The firm has a market cap of $51.86 million, a price-to-earnings ratio of 251.25 and a beta of 0.77. The business has a 50-day moving average price of $3.03 and a 200-day moving average price of $3.38. PetMed Express has a twelve month low of $2.47 and a twelve month high of $6.85.

Insider Buying and Selling

In related news, major shareholder Silvercape Investments Ltd purchased 118,200 shares of the company's stock in a transaction that occurred on Friday, August 1st. The stock was bought at an average price of $3.21 per share, for a total transaction of $379,422.00. Following the completion of the transaction, the insider owned 2,478,696 shares in the company, valued at approximately $7,956,614.16. The trade was a 5.01% increase in their position. The purchase was disclosed in a filing with the SEC, which is available at the SEC website. Insiders bought a total of 268,466 shares of company stock valued at $856,185 in the last ninety days. Company insiders own 1.10% of the company's stock.

Institutional Inflows and Outflows

Several institutional investors and hedge funds have recently added to or reduced their stakes in PETS. Bank of America Corp DE boosted its position in shares of PetMed Express by 34.0% during the fourth quarter. Bank of America Corp DE now owns 106,372 shares of the company's stock valued at $513,000 after buying an additional 26,984 shares during the period. Squarepoint Ops LLC boosted its position 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 buying an additional 5,180 shares during the period. Universal Beteiligungs und Servicegesellschaft mbH purchased a new position in shares of PetMed Express during the first quarter valued at approximately $295,000. American Century Companies Inc. boosted its position in shares of PetMed Express by 80.1% during the first quarter. American Century Companies Inc. now owns 60,629 shares of the company's stock valued at $254,000 after buying an additional 26,967 shares during the period. Finally, Caption Management LLC purchased a new position in shares of PetMed Express during the first quarter valued at approximately $242,000. Hedge funds and other institutional investors 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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