PetMed Express (NASDAQ:PETS) Lowered to Sell Rating by Wall Street Zen

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

Separately, Morgan Stanley cut their target price 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 Price Performance

NASDAQ:PETS traded up $0.02 during mid-day trading on Friday, reaching $3.28. The company's stock had a trading volume of 79,570 shares, compared to its average volume of 253,619. The stock has a market cap of $67.76 million, a P/E ratio of 328.33 and a beta of 0.81. The company's fifty day simple moving average is $3.61 and its two-hundred day simple moving average is $4.23. PetMed Express has a twelve month low of $2.90 and a twelve month high of $6.85.

Insider Buying and Selling

In other PetMed Express news, CEO Sandra Yvette Campos sold 60,463 shares of the business'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 transaction, the chief executive officer now owns 578,524 shares in the company, valued at $1,914,914.44. The trade was a 9.46% decrease in their ownership of the stock. The sale was disclosed in a document filed with the SEC, which is available through this hyperlink. Also, major shareholder Silvercape Investments Ltd bought 7,401 shares of the firm's stock in a transaction dated Tuesday, May 20th. The stock was bought at an average cost of $3.95 per share, with a total value of $29,233.95. Following the transaction, the insider now directly owns 2,307,719 shares of the company's stock, valued at approximately $9,115,490.05. This trade represents a 0.32% increase in their ownership of the stock. The disclosure for this purchase can be found here. Corporate insiders own 1.10% of the company's stock.

Hedge Funds Weigh In On PetMed Express

A number of institutional investors and hedge funds have recently bought and sold shares of the stock. Quarry LP acquired a new position in shares of PetMed Express during the fourth quarter worth $47,000. Virtu Financial LLC acquired a new position in PetMed Express in the 4th quarter worth $58,000. Boothbay Fund Management LLC purchased a new position in PetMed Express in the fourth quarter valued at about $59,000. Squarepoint Ops LLC boosted its stake in shares of PetMed Express by 41.4% during the 4th 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 last quarter. Finally, Diametric Capital LP acquired a new stake in shares of PetMed Express during the fourth quarter worth approximately $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.