PetMed Express (NASDAQ:PETS) Receives "Sell (D)" Rating from Weiss Ratings

Key Points

• PetMed Express has received a "sell (D)" rating restated by Weiss Ratings, indicating ongoing concerns regarding the company's stock performance.
• Despite the negative rating from Weiss, a few other brokerages have upgraded PetMed Express from "sell" to "hold," suggesting a mixed outlook from analysts.
• PetMed Express's market capitalization stands at $53.09 million, with a current stock price of $2.57, and has seen insider purchases totaling approximately $856,185 in the recent months.

PetMed Express (NASDAQ:PETS - Get Free Report)'s stock had its "sell (d)" rating restated by Weiss Ratings in a research note issued on Wednesday,Weiss Ratings reports.

A number of other brokerages also recently weighed in on PETS. Wall Street Zen raised shares of PetMed Express from a "sell" rating to a "hold" rating in a research report on Friday, September 5th. Zacks Research raised shares of PetMed Express from a "strong sell" rating to a "hold" rating in a research note on Monday, September 29th. One research analyst has rated the stock with a Hold rating and two have assigned a Sell rating to the company. Based on data from MarketBeat, the company presently has a consensus rating of "Sell" and a consensus target price of $3.20.

PetMed Express Stock Performance

PETS opened at $2.57 on Wednesday. The company has a 50-day moving average of $2.91 and a 200-day moving average of $3.33. The company has a market capitalization of $53.09 million, a P/E ratio of 257.26 and a beta of 0.73. PetMed Express has a 1-year low of $2.45 and a 1-year high of $6.85.

Insider Activity at PetMed Express

In other news, major shareholder Silvercape Investments Ltd purchased 101,000 shares of PetMed Express stock in a transaction that occurred on Wednesday, August 13th. The stock was acquired at an average price of $3.17 per share, for a total transaction of $320,170.00. Following the transaction, the insider owned 2,579,696 shares in the company, valued at $8,177,636.32. The trade was a 4.07% increase in their ownership of the stock. The purchase was disclosed in a legal filing with the SEC, which is available at this link. In the last three months, insiders have purchased 268,466 shares of company stock valued at $856,185. 1.10% of the stock is currently owned by corporate insiders.

Institutional Inflows and Outflows

Several large investors have recently added to or reduced their stakes in PETS. Truffle Hound Capital LLC acquired a new position in PetMed Express in the 2nd quarter valued at approximately $399,000. Universal Beteiligungs und Servicegesellschaft mbH acquired a new position in PetMed Express in the 1st quarter valued at $295,000. Caption Management LLC bought a new stake in PetMed Express in the 1st quarter valued at $242,000. American Century Companies Inc. boosted its holdings in PetMed Express by 80.1% in the 1st quarter. American Century Companies Inc. now owns 60,629 shares of the company's stock valued at $254,000 after purchasing an additional 26,967 shares during the period. Finally, Bridgeway Capital Management LLC boosted its holdings in PetMed Express by 96.2% in the 2nd quarter. Bridgeway Capital Management LLC now owns 40,800 shares of the company's stock valued at $135,000 after purchasing an additional 20,000 shares during the period. Institutional investors and hedge funds 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.

This instant news alert was generated by narrative science technology and financial data from MarketBeat in order to provide readers with the fastest and most accurate reporting. This story was reviewed by MarketBeat's editorial team prior to publication. Please send any questions or comments about this story to contact@marketbeat.com.