Point72 Asia Singapore Pte. Ltd. Invests $135,000 in PetMed Express, Inc. (NASDAQ:PETS)

Point72 Asia Singapore Pte. Ltd. acquired a new stake in shares of PetMed Express, Inc. (NASDAQ:PETS) during the 2nd quarter, Holdings Channel.com reports. The fund acquired 33,430 shares of the company’s stock, valued at approximately $135,000.

Several other large investors also recently bought and sold shares of PETS. Mirae Asset Global Investments Co. Ltd. raised its stake in PetMed Express by 2,025.9% during 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 buying an additional 667,946 shares during the last quarter. Invenomic Capital Management LP purchased a new stake in PetMed Express during the fourth quarter valued at $1,631,000. Federated Hermes Inc. lifted its holdings in PetMed Express by 54.5% in the second quarter. Federated Hermes Inc. now owns 606,430 shares of the company’s stock valued at $2,456,000 after acquiring an additional 213,903 shares during the period. Cubist Systematic Strategies LLC purchased a new position in PetMed Express in the second quarter worth about $797,000. Finally, Squarepoint Ops LLC bought a new stake in shares of PetMed Express during the 2nd quarter valued at about $273,000. 73.33% of the stock is currently owned by institutional investors.

Analyst Upgrades and Downgrades

Several equities analysts have recently weighed in on the stock. Morgan Stanley lowered their price objective on shares of PetMed Express from $6.50 to $3.50 and set an “underweight” rating on the stock in a research note on Wednesday, June 12th. Lake Street Capital reiterated a “hold” rating and set a $3.50 price target (down previously from $7.00) on shares of PetMed Express in a research note on Wednesday, August 7th.

PetMed Express Stock Up 6.2 %

PETS stock opened at $4.13 on Friday. The business’s 50-day moving average price is $3.43 and its 200-day moving average price is $3.96. The stock has a market cap of $85.08 million, a P/E ratio of -10.59 and a beta of 0.71. PetMed Express, Inc. has a twelve month low of $2.90 and a twelve month high of $10.60.

PetMed Express (NASDAQ:PETS) last issued its quarterly earnings results on Tuesday, August 6th. The company reported $0.18 earnings per share for the quarter, beating the consensus estimate of ($0.12) by $0.30. The business had revenue of $67.95 million for the quarter, compared to the consensus estimate of $77.52 million. PetMed Express had a negative net margin of 1.24% and a negative return on equity of 3.44%. On average, equities research analysts expect that PetMed Express, Inc. will post 0.08 earnings per share for the current fiscal year.

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.