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

PetMed Express (NASDAQ:PETS) was upgraded by analysts at Zacks Research from a “strong sell” rating to a “hold” rating in a research report issued to clients and investors on Monday,Zacks.com reports.

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

PetMed Express Price Performance

NASDAQ:PETS opened at $2.51 on Monday. PetMed Express has a 52 week low of $2.47 and a 52 week high of $6.85. The stock’s fifty day moving average is $3.03 and its two-hundred day moving average is $3.38. The company has a market capitalization of $51.86 million, a P/E ratio of 251.25 and a beta of 0.77.

Insider Transactions at PetMed Express

In other PetMed Express 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 purchased 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 of the company’s stock, valued at approximately $7,956,614.16. This trade represents a 5.01% increase in their position. The transaction was disclosed in a document filed with the Securities & Exchange Commission, which is available through this hyperlink. Insiders have bought a total of 268,466 shares of company stock valued at $856,185 over the last three months. Corporate insiders own 1.10% of the company’s stock.

Institutional Investors Weigh In On PetMed Express

Several hedge funds and other institutional investors have recently added to or reduced their stakes in PETS. R Squared Ltd bought a new stake in shares of PetMed Express during the 2nd quarter worth about $34,000. Occudo Quantitative Strategies LP purchased a new stake in shares of PetMed Express in the second quarter valued at about $51,000. Oxford Asset Management LLP purchased a new stake in PetMed Express during the second quarter worth about $55,000. Squarepoint Ops LLC increased its stake in shares of PetMed Express by 41.4% in the fourth quarter. Squarepoint Ops LLC now owns 17,686 shares of the company’s stock worth $85,000 after purchasing an additional 5,180 shares in the last quarter. Finally, Bridgeway Capital Management LLC boosted its position in shares of PetMed Express by 96.2% in the second quarter. Bridgeway Capital Management LLC now owns 40,800 shares of the company’s stock valued at $135,000 after acquiring an additional 20,000 shares during the period. 73.33% of the stock is currently owned by institutional investors and hedge funds.

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.