Bleakley Financial Group LLC Takes $279,000 Position in PetMed Express, Inc. (NASDAQ:PETS)

Bleakley Financial Group LLC acquired a new stake in PetMed Express, Inc. (NASDAQ:PETS) in the third quarter, Holdings Channel reports. The institutional investor acquired 75,719 shares of the company’s stock, valued at approximately $279,000.

A number of other institutional investors also recently made changes to their positions in PETS. Mirae Asset Global Investments Co. Ltd. boosted its stake in shares of PetMed Express by 2,025.9% in the 1st quarter. Mirae Asset Global Investments Co. Ltd. now owns 700,916 shares of the company’s stock valued at $3,357,000 after purchasing an additional 667,946 shares in the last quarter. Federated Hermes Inc. raised its holdings in PetMed Express by 54.5% during the 2nd quarter. Federated Hermes Inc. now owns 606,430 shares of the company’s stock valued at $2,456,000 after buying an additional 213,903 shares during the last quarter. Cubist Systematic Strategies LLC bought a new stake in PetMed Express during the 2nd quarter valued at $797,000. Squarepoint Ops LLC bought a new stake in PetMed Express during the 2nd quarter valued at $273,000. Finally, Price T Rowe Associates Inc. MD raised its holdings in PetMed Express by 48.4% during the 1st 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. Hedge funds and other institutional investors own 73.33% of the company’s stock.

PetMed Express Stock Down 4.9 %

NASDAQ:PETS opened at $3.90 on Thursday. The company has a fifty day moving average of $3.56 and a 200 day moving average of $3.88. PetMed Express, Inc. has a 52 week low of $2.90 and a 52 week high of $10.53. The firm has a market capitalization of $80.37 million, a P/E ratio of -10.00 and a beta of 0.71.

PetMed Express (NASDAQ:PETS) last issued 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. PetMed Express had a negative net margin of 1.24% and a negative return on equity of 3.44%. The business had revenue of $67.95 million during the quarter, compared to analyst estimates of $77.52 million. As a group, analysts anticipate that PetMed Express, Inc. will post 0.08 EPS for the current year.

Analyst Upgrades and Downgrades

Separately, Lake Street Capital reiterated a “hold” rating and set a $3.50 price target (down from $7.00) on shares of PetMed Express in a report on Wednesday, August 7th.

Insiders Place Their Bets

In related news, major shareholder Nina Capital Holdings Inc. acquired 12,500 shares of the firm’s stock in a transaction on Monday, September 9th. The stock was acquired at an average cost of $3.34 per share, for a total transaction of $41,750.00. Following the acquisition, the insider now owns 2,078,000 shares of the company’s stock, valued at $6,940,520. This trade represents a 0.00 % increase in their ownership of the stock. The purchase was disclosed in a legal filing with the SEC, which is available at this link. Company insiders own 1.10% of the company’s 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 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.