PetMed Express (NASDAQ:PETS) Lowered to Sell Rating by Wall Street Zen

Wall Street Zen cut shares of PetMed Express (NASDAQ:PETS) from a hold rating to a sell rating in a report released on Saturday morning.

Separately, Morgan Stanley decreased their price objective 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 Price Performance

NASDAQ PETS opened at $3.26 on Friday. The company has a market capitalization of $67.35 million, a PE ratio of 326.33 and a beta of 0.81. The company has a fifty day moving average of $3.61 and a 200 day moving average of $4.23. PetMed Express has a 1 year low of $2.90 and a 1 year high of $6.85.

Insider Activity at PetMed Express

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

Hedge Funds Weigh In On PetMed Express

A number of large investors have recently added to or reduced their stakes in PETS. Virtu Financial LLC acquired a new position in PetMed Express during the fourth quarter worth $58,000. American Century Companies Inc. raised its position in shares of PetMed Express by 15.3% during the 4th quarter. American Century Companies Inc. now owns 33,662 shares of the company’s stock worth $162,000 after purchasing an additional 4,459 shares during the last quarter. JPMorgan Chase & Co. raised its position in shares of PetMed Express by 355.5% during the 4th quarter. JPMorgan Chase & Co. now owns 106,954 shares of the company’s stock worth $516,000 after purchasing an additional 83,473 shares during the last quarter. Blair William & Co. IL raised its position in shares of PetMed Express by 95.2% during the 4th quarter. Blair William & Co. IL now owns 20,300 shares of the company’s stock worth $98,000 after purchasing an additional 9,900 shares during the last quarter. Finally, Arrowstreet Capital Limited Partnership raised its position in shares of PetMed Express by 26.5% during the 4th quarter. Arrowstreet Capital Limited Partnership now owns 513,381 shares of the company’s stock worth $2,474,000 after purchasing an additional 107,614 shares during the last quarter. 73.33% of the stock is currently owned by institutional investors and hedge funds.

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.