PetMed Express (NASDAQ:PETS) Upgraded to “Hold” at Zacks Research

Zacks Research upgraded shares of PetMed Express (NASDAQ:PETS) from a strong sell rating to a hold rating in a research report sent to investors on Monday morning,Zacks.com reports.

Separately, Wall Street Zen raised PetMed Express from a “sell” rating to a “hold” rating in a research report on Friday, September 5th. One analyst has rated the stock with a Hold rating and one has issued a Sell rating to the stock. Based on data from MarketBeat, the stock presently has a consensus rating of “Reduce” and a consensus price target of $3.20.

PetMed Express Price Performance

NASDAQ:PETS opened at $2.51 on Monday. The company’s 50 day moving average price is $3.03 and its 200-day moving average price is $3.38. PetMed Express has a 52 week low of $2.47 and a 52 week high of $6.85. The stock has a market cap of $51.86 million, a price-to-earnings ratio of 251.25 and a beta of 0.77.

Insider Buying and Selling

In related news, major shareholder Silvercape Investments Ltd bought 101,000 shares of the firm’s stock in a transaction on Wednesday, August 13th. The stock was acquired at an average cost of $3.17 per share, for a total transaction of $320,170.00. Following the purchase, the insider owned 2,579,696 shares in the company, valued at approximately $8,177,636.32. This represents a 4.07% increase in their ownership of the stock. The acquisition was disclosed in a filing with the Securities & Exchange Commission, which is accessible through this link. Over the last ninety days, insiders have purchased 268,466 shares of company stock valued at $856,185. Insiders own 1.10% of the company’s stock.

Institutional Trading of PetMed Express

Several large investors have recently modified their holdings of PETS. R Squared Ltd bought a new position in PetMed Express in the second quarter valued at about $34,000. Occudo Quantitative Strategies LP purchased a new stake in shares of PetMed Express during the 2nd quarter valued at about $51,000. Oxford Asset Management LLP bought a new position in shares of PetMed Express in the 2nd quarter worth approximately $55,000. Squarepoint Ops LLC lifted its stake in shares of PetMed Express by 41.4% in the 4th quarter. Squarepoint Ops LLC now owns 17,686 shares of the company’s stock worth $85,000 after purchasing an additional 5,180 shares during the period. Finally, Bridgeway Capital Management LLC boosted its holdings 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 worth $135,000 after buying an additional 20,000 shares during the last quarter. 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.