PetMed Express (NASDAQ:PETS) Upgraded at StockNews.com

StockNews.com upgraded shares of PetMed Express (NASDAQ:PETS) from a hold rating to a buy rating in a research report report published on Tuesday.

Separately, Lake Street Capital restated a “hold” rating and set a $3.50 target price (down previously from $7.00) on shares of PetMed Express in a research report on Wednesday, August 7th.

PetMed Express Trading Down 3.9 %

PETS stock traded down $0.20 during trading on Tuesday, reaching $4.87. The company’s stock had a trading volume of 67,376 shares, compared to its average volume of 343,279. The company’s fifty day moving average is $3.98 and its 200-day moving average is $3.92. PetMed Express has a 1 year low of $2.90 and a 1 year high of $7.93.

PetMed Express (NASDAQ:PETS) last released its earnings results on Wednesday, November 6th. The company reported $0.11 earnings per share (EPS) for the quarter, topping the consensus estimate of ($0.06) by $0.17. PetMed Express had a negative return on equity of 1.00% and a negative net margin of 0.37%. The firm had revenue of $59.57 million during the quarter, compared to analysts’ expectations of $66.02 million. On average, analysts predict that PetMed Express will post 0.24 EPS for the current fiscal year.

Insider Activity at PetMed Express

In related news, major shareholder Nina Capital Holdings Inc. acquired 12,500 shares of the stock in a transaction dated Monday, September 9th. The stock was acquired at an average cost of $3.34 per share, with a total value of $41,750.00. Following the purchase, the insider now directly owns 2,078,000 shares of the company’s stock, valued at approximately $6,940,520. This trade represents a 0.61 % increase in their ownership of the stock. The transaction was disclosed in a legal filing with the SEC, which is available at this hyperlink. 1.10% of the stock is owned by corporate insiders.

Institutional Trading of PetMed Express

Institutional investors have recently bought and sold shares of the stock. Federated Hermes Inc. increased its position in PetMed Express by 54.5% during the second quarter. Federated Hermes Inc. now owns 606,430 shares of the company’s stock valued at $2,456,000 after acquiring an additional 213,903 shares during the last quarter. Cubist Systematic Strategies LLC bought a new position in PetMed Express during the 2nd quarter valued at about $797,000. Bleakley Financial Group LLC purchased a new stake in PetMed Express in the 3rd quarter worth about $279,000. Squarepoint Ops LLC bought a new stake in PetMed Express in the second quarter worth about $273,000. Finally, Price T Rowe Associates Inc. MD boosted its position in shares of PetMed Express by 48.4% during the first quarter. Price T Rowe Associates Inc. MD now owns 129,229 shares of the company’s stock valued at $620,000 after buying an additional 42,125 shares during the period. 73.33% of the stock is currently owned by institutional investors.

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.