Mirae Asset Global Investments Co. Ltd. Purchases 667,946 Shares of PetMed Express, Inc. (NASDAQ:PETS)

Mirae Asset Global Investments Co. Ltd. grew its holdings in shares of PetMed Express, Inc. (NASDAQ:PETS) by 2,025.9% during the first quarter, according to the company in its most recent filing with the Securities and Exchange Commission. The institutional investor owned 700,916 shares of the company’s stock after buying an additional 667,946 shares during the period. Mirae Asset Global Investments Co. Ltd. owned 3.31% of PetMed Express worth $3,357,000 as of its most recent SEC filing.

A number of other hedge funds and other institutional investors have also recently modified their holdings of the business. CWM LLC boosted its stake in PetMed Express by 167.5% during the 4th quarter. CWM LLC now owns 3,378 shares of the company’s stock valued at $26,000 after purchasing an additional 2,115 shares during the last quarter. Nisa Investment Advisors LLC purchased a new stake in shares of PetMed Express during the 4th quarter valued at about $36,000. Quest Partners LLC bought a new stake in shares of PetMed Express in the fourth quarter worth approximately $47,000. Oak Thistle LLC purchased a new position in shares of PetMed Express during the first quarter valued at approximately $50,000. Finally, HTLF Bank bought a new position in PetMed Express during the fourth quarter valued at approximately $156,000. 73.33% of the stock is owned by hedge funds and other institutional investors.

PetMed Express Trading Up 6.0 %

NASDAQ PETS opened at $3.89 on Friday. The business’s fifty day moving average is $4.20 and its 200 day moving average is $5.07. PetMed Express, Inc. has a fifty-two week low of $3.63 and a fifty-two week high of $15.08.

PetMed Express (NASDAQ:PETS) last posted its quarterly earnings data on Tuesday, June 11th. The company reported ($0.25) earnings per share for the quarter. PetMed Express had a negative net margin of 2.85% and a negative return on equity of 7.09%. The company had revenue of $66.50 million for the quarter. As a group, equities research analysts predict that PetMed Express, Inc. will post -0.28 earnings per share for the current fiscal year.

Wall Street Analysts Forecast Growth

PETS has been the subject of a number of research analyst reports. Lake Street Capital cut their target price on shares of PetMed Express from $9.00 to $7.00 and set a “buy” rating for the company in a research report on Wednesday, June 12th. Morgan Stanley lowered their target price on PetMed Express from $6.50 to $3.50 and set an “underweight” rating on the stock in a report on Wednesday, June 12th.

PetMed Express 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 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.