PetMed Express (NASDAQ:PETS) Downgraded to Hold Rating by StockNews.com

PetMed Express (NASDAQ:PETS) was downgraded by investment analysts at StockNews.com from a “buy” rating to a “hold” rating in a note issued to investors on Tuesday.

PetMed Express Stock Performance

Shares of PETS traded down $0.74 during mid-day trading on Tuesday, reaching $4.53. The company had a trading volume of 1,237,535 shares, compared to its average volume of 271,535. The firm has a 50-day moving average price of $5.15 and a 200 day moving average price of $4.32. PetMed Express has a 52 week low of $2.90 and a 52 week high of $6.85. The company has a market capitalization of $93.59 million, a price-to-earnings ratio of -75.50 and a beta of 0.70.

PetMed Express (NASDAQ:PETS) last issued its quarterly earnings results on Monday, February 10th. The company reported ($0.03) EPS for the quarter, missing analysts’ consensus estimates of ($0.01) by ($0.02). PetMed Express had a negative return on equity of 1.00% and a negative net margin of 0.37%. As a group, research analysts forecast that PetMed Express will post 0.24 earnings per share for the current fiscal year.

Insider Activity at PetMed Express

In other PetMed Express news, Director Leslie C.G. Campbell acquired 15,000 shares of the stock in a transaction that occurred on Wednesday, December 4th. The shares were acquired at an average cost of $5.38 per share, with a total value of $80,700.00. Following the transaction, the director now owns 70,000 shares of the company’s stock, valued at $376,600. The trade was a 27.27 % increase in their position. The transaction was disclosed in a filing with the SEC, which can be accessed through this link. 1.10% of the stock is currently owned by insiders.

Hedge Funds Weigh In On PetMed Express

Several hedge funds and other institutional investors have recently added to or reduced their stakes in PETS. Bleakley Financial Group LLC purchased a new stake in PetMed Express during the 3rd quarter valued at $279,000. Independent Advisor Alliance purchased a new stake in PetMed Express during the 3rd quarter valued at $106,000. Virtu Financial LLC purchased a new stake in PetMed Express during the 4th quarter valued at $58,000. R Squared Ltd purchased a new stake in PetMed Express during the 4th quarter valued at $31,000. Finally, American Century Companies Inc. raised its stake in PetMed Express by 15.3% during the 4th quarter. American Century Companies Inc. now owns 33,662 shares of the company’s stock valued at $162,000 after buying an additional 4,459 shares during the last quarter. 73.33% of the stock is owned by institutional investors.

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.