Mirae Asset Global Investments Co. Ltd. Grows Stake in PetMed Express, Inc. (NASDAQ:PETS)

Mirae Asset Global Investments Co. Ltd. raised its stake in PetMed Express, Inc. (NASDAQ:PETS – Get Rating) by 4.4% during the fourth quarter, according to the company in its most recent Form 13F filing with the Securities & Exchange Commission. The fund owned 589,467 shares of the company’s stock after acquiring an additional 24,763 shares during the quarter. Mirae Asset Global Investments Co. Ltd. owned approximately 2.80% of PetMed Express worth $10,434,000 as of its most recent filing with the Securities & Exchange Commission.

A number of other hedge funds and other institutional investors have also recently added to or reduced their stakes in PETS. Millennium Management LLC purchased a new position in PetMed Express in the second quarter valued at about $4,994,000. UBS Group AG raised its position in shares of PetMed Express by 779.2% in the fourth quarter. UBS Group AG now owns 267,173 shares of the company’s stock valued at $4,729,000 after purchasing an additional 236,786 shares during the period. SG Americas Securities LLC raised its position in shares of PetMed Express by 3,082.4% in the fourth quarter. SG Americas Securities LLC now owns 193,297 shares of the company’s stock valued at $3,421,000 after purchasing an additional 187,223 shares during the period. Cubist Systematic Strategies LLC raised its position in shares of PetMed Express by 1,323.8% in the second quarter. Cubist Systematic Strategies LLC now owns 176,870 shares of the company’s stock valued at $3,520,000 after purchasing an additional 164,448 shares during the period. Finally, Renaissance Technologies LLC raised its position in shares of PetMed Express by 19.1% in the first quarter. Renaissance Technologies LLC now owns 972,784 shares of the company’s stock valued at $25,098,000 after purchasing an additional 156,300 shares during the period. 77.74% of the stock is currently owned by hedge funds and other institutional investors.

PetMed Express Stock Down 4.9 %

NASDAQ PETS opened at $14.72 on Friday. The company’s 50 day moving average is $15.80 and its 200-day moving average is $18.15. PetMed Express, Inc. has a 12-month low of $14.44 and a 12-month high of $24.01. The firm has a market cap of $310.30 million, a P/E ratio of 25.83 and a beta of 0.64.

Analysts Set New Price Targets

Several analysts have recently issued reports on the stock. Morgan Stanley lowered their price target on shares of PetMed Express from $18.00 to $17.00 and set an “underweight” rating on the stock in a research report on Thursday, March 23rd. StockNews.com assumed coverage on shares of PetMed Express in a research report on Thursday. They issued a “hold” rating on the stock.

About PetMed Express

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PetMed Express, Inc engages in the provision of markets prescription and non-prescription pet medications, health products and supplies for dogs and cats. Its non-prescription medications include flea and tick control products, bone and joint care products, vitamins, treats, nutritional supplements, hygiene products, and supplies.