PetMed Express (NASDAQ:PETS) Cut to Sell at Wall Street Zen

Wall Street Zen lowered shares of PetMed Express (NASDAQ:PETS - Free Report) from a hold rating to a sell rating in a research note published on Saturday morning.

Separately, 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 report on Thursday, April 17th.

PetMed Express Stock Performance

Shares of NASDAQ PETS traded down $0.18 during mid-day trading on Friday, hitting $3.24. The stock had a trading volume of 187,176 shares, compared to its average volume of 254,924. The firm has a market cap of $66.94 million, a PE ratio of 324.32 and a beta of 0.81. The company has a 50 day moving average of $3.60 and a two-hundred day moving average of $4.24. PetMed Express has a twelve month low of $2.90 and a twelve month high of $6.85.

Insiders Place Their Bets

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

Institutional Investors Weigh In On PetMed Express

Several hedge funds have recently bought and sold shares of the stock. Quarry LP purchased a new position in shares of PetMed Express during the 4th quarter valued at approximately $47,000. Virtu Financial LLC acquired a new stake in PetMed Express during the fourth quarter valued at $58,000. Boothbay Fund Management LLC acquired a new stake in PetMed Express during the fourth quarter valued at $59,000. Squarepoint Ops LLC increased 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 buying an additional 5,180 shares in the last quarter. Finally, Diametric Capital LP acquired a new position in shares of PetMed Express in the fourth quarter worth about $86,000. Hedge funds and other institutional investors own 73.33% of the company's stock.

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.