Point72 DIFC Ltd Makes New $34,000 Investment in PetMed Express, Inc. (NASDAQ:PETS)

Point72 DIFC Ltd acquired a new stake in shares of PetMed Express, Inc. (NASDAQ:PETS) during the 2nd quarter, according to the company in its most recent filing with the Securities and Exchange Commission (SEC). The firm acquired 8,278 shares of the company’s stock, valued at approximately $34,000.

Other institutional investors and hedge funds have also recently modified their holdings of the company. Invenomic Capital Management LP bought a new stake in shares of PetMed Express during the fourth quarter valued at approximately $1,631,000. Mirae Asset Global Investments Co. Ltd. raised its position in shares of PetMed Express by 2,025.9% during the first quarter. Mirae Asset Global Investments Co. Ltd. now owns 700,916 shares of the company’s stock valued at $3,357,000 after buying an additional 667,946 shares during the last quarter. Price T Rowe Associates Inc. MD raised 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 last quarter. BNP Paribas Financial Markets raised its position in shares of PetMed Express by 22.8% during the first quarter. BNP Paribas Financial Markets now owns 66,501 shares of the company’s stock valued at $319,000 after buying an additional 12,326 shares during the last quarter. Finally, SG Americas Securities LLC bought a new stake in shares of PetMed Express during the second quarter valued at approximately $46,000. Institutional investors own 73.33% of the company’s stock.

PetMed Express Stock Performance

Shares of PETS opened at $3.68 on Monday. The company’s fifty day moving average is $3.44 and its 200 day moving average is $3.98. PetMed Express, Inc. has a fifty-two week low of $2.90 and a fifty-two week high of $11.20. The stock has a market capitalization of $75.81 million, a PE ratio of -9.44 and a beta of 0.71.

PetMed Express (NASDAQ:PETS) last posted its quarterly earnings data on Tuesday, August 6th. The company reported $0.18 EPS for the quarter, topping the consensus estimate of ($0.12) by $0.30. The company had revenue of $67.95 million during the quarter, compared to analyst estimates of $77.52 million. PetMed Express had a negative net margin of 1.24% and a negative return on equity of 3.44%. As a group, research analysts forecast that PetMed Express, Inc. will post 0.08 earnings per share for the current year.

Analysts Set New Price Targets

PETS has been the topic of several recent analyst reports. Morgan Stanley reduced their price objective on shares of PetMed Express from $6.50 to $3.50 and set an “underweight” rating on the stock in a research report on Wednesday, June 12th. Lake Street Capital restated a “hold” rating and issued a $3.50 price target (down previously from $7.00) on shares of PetMed Express in a research report on Wednesday, August 7th.

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.