PetMed Express (NASDAQ:PETS) Rating Lowered to “Sell” at Wall Street Zen

PetMed Express (NASDAQ:PETS) was downgraded by analysts at Wall Street Zen from a “hold” rating to a “sell” rating in a research report issued on Saturday.

Separately, Morgan Stanley decreased their price target on PetMed Express from $3.50 to $3.20 and set an “underweight” rating for the company in a report on Thursday, April 17th.

PetMed Express Trading Down 5.3%

Shares of PETS stock opened at $3.24 on Friday. The firm has a 50-day moving average price of $3.60 and a 200 day moving average price of $4.26. PetMed Express has a twelve month low of $2.90 and a twelve month high of $6.85. The company has a market capitalization of $66.93 million, a price-to-earnings ratio of 324.32 and a beta of 0.81.

Insider Activity at PetMed Express

In related news, major shareholder Silvercape Investments Ltd bought 7,401 shares of the company’s stock in a transaction on Tuesday, May 20th. The shares were purchased at an average cost of $3.95 per share, with a total value of $29,233.95. Following the completion of the transaction, the insider now directly owns 2,307,719 shares of the company’s stock, valued at approximately $9,115,490.05. This represents a 0.32% increase in their ownership of the stock. The acquisition was disclosed in a filing with the SEC, which is accessible through the SEC website. Also, CEO Sandra Yvette Campos sold 60,463 shares of the stock in a transaction on Wednesday, April 30th. The stock was sold at an average price of $3.31, for a total value of $200,132.53. Following the completion of the sale, the chief executive officer now directly owns 578,524 shares in the company, valued at $1,914,914.44. This represents a 9.46% decrease in their ownership of the stock. The disclosure for this sale can be found here. Corporate insiders own 1.10% of the company’s stock.

Institutional Investors Weigh In On PetMed Express

Several large investors have recently added to or reduced their stakes in PETS. Quarry LP bought a new position in shares of PetMed Express in the fourth quarter worth $47,000. Virtu Financial LLC bought a new position in shares of PetMed Express in the fourth quarter worth $58,000. Boothbay Fund Management LLC bought a new position in shares of PetMed Express in the fourth quarter worth $59,000. Squarepoint Ops LLC grew its stake in shares of PetMed Express by 41.4% in the fourth quarter. Squarepoint Ops LLC now owns 17,686 shares of the company’s stock worth $85,000 after purchasing an additional 5,180 shares in the last quarter. Finally, Diametric Capital LP bought a new position in shares of PetMed Express in the fourth quarter worth $86,000. 73.33% of the stock is owned by institutional investors and hedge funds.

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.