Truist Financial Corp Raises Holdings in PetMed Express, Inc. (NASDAQ:PETS)

Truist Financial Corp increased its holdings in PetMed Express, Inc. (NASDAQ:PETS) by 39.0% in the 2nd quarter, according to its most recent disclosure with the SEC. The firm owned 20,456 shares of the company’s stock after acquiring an additional 5,744 shares during the period. Truist Financial Corp owned approximately 0.10% of PetMed Express worth $282,000 at the end of the most recent quarter.

Other hedge funds also recently added to or reduced their stakes in the company. BlackRock Inc. raised its stake in shares of PetMed Express by 1.4% in the first quarter. BlackRock Inc. now owns 3,337,821 shares of the company’s stock valued at $86,115,000 after acquiring an additional 47,018 shares in the last quarter. Vanguard Group Inc. raised its stake in PetMed Express by 7.2% in the third quarter. Vanguard Group Inc. now owns 1,523,250 shares of the company’s stock valued at $29,734,000 after buying an additional 102,369 shares in the last quarter. State Street Corp raised its stake in PetMed Express by 9.7% in the second quarter. State Street Corp now owns 1,001,844 shares of the company’s stock valued at $19,937,000 after buying an additional 88,320 shares in the last quarter. Renaissance Technologies LLC raised its stake in 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 buying an additional 156,300 shares in the last quarter. Finally, Mirae Asset Global Investments Co. Ltd. raised its stake in PetMed Express by 18.9% in the first quarter. Mirae Asset Global Investments Co. Ltd. now owns 700,916 shares of the company’s stock valued at $11,383,000 after buying an additional 111,449 shares in the last quarter. 74.99% of the stock is currently owned by hedge funds and other institutional investors.

PetMed Express Trading Up 3.8 %

Shares of PetMed Express stock opened at $7.45 on Tuesday. The company has a fifty day moving average price of $9.76 and a 200 day moving average price of $12.40. PetMed Express, Inc. has a twelve month low of $5.50 and a twelve month high of $22.64. The stock has a market cap of $157.57 million, a price-to-earnings ratio of -25.69 and a beta of 0.70.

PetMed Express (NASDAQ:PETS) last issued its quarterly earnings data on Monday, October 30th. The company reported $0.09 EPS for the quarter, missing analysts’ consensus estimates of $0.18 by ($0.09). The firm had revenue of $71.00 million during the quarter, compared to analyst estimates of $77.13 million. PetMed Express had a positive return on equity of 0.93% and a negative net margin of 2.25%. During the same quarter in the prior year, the firm earned $0.13 EPS. Analysts forecast that PetMed Express, Inc. will post 0.16 earnings per share for the current year.

Insiders Place Their Bets

In other news, Director Gian Fulgoni purchased 41,000 shares of the business’s stock in a transaction dated Thursday, November 9th. The shares were acquired at an average price of $7.34 per share, for a total transaction of $300,940.00. Following the completion of the acquisition, the director now directly owns 109,510 shares of the company’s stock, valued at $803,803.40. The transaction was disclosed in a legal filing with the Securities & Exchange Commission, which is available through this hyperlink. In other news, CFO Christine Chambers bought 6,888 shares of the stock in a transaction that occurred on Friday, November 3rd. The shares were acquired at an average cost of $7.26 per share, for a total transaction of $50,006.88. Following the purchase, the chief financial officer now owns 19,888 shares of the company’s stock, valued at approximately $144,386.88. The transaction was disclosed in a legal filing with the Securities & Exchange Commission, which is available through this hyperlink. Also, Director Gian Fulgoni purchased 41,000 shares of PetMed Express stock in a transaction on Thursday, November 9th. The stock was bought at an average cost of $7.34 per share, with a total value of $300,940.00. Following the completion of the acquisition, the director now owns 109,510 shares in the company, valued at $803,803.40. The disclosure for this purchase can be found here. In the last 90 days, insiders bought 61,738 shares of company stock worth $451,498. Insiders own 3.60% of the company’s stock.

Wall Street Analyst Weigh In

PETS has been the topic of several research reports. Morgan Stanley dropped their price objective on PetMed Express from $10.00 to $7.00 and set an “underweight” rating on the stock in a report on Tuesday, October 31st. TheStreet lowered PetMed Express from a “c-” rating to a “d+” rating in a report on Wednesday, November 1st. Finally, StockNews.com assumed coverage on PetMed Express in a report on Thursday, October 5th. They set a “hold” rating on the 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 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.