Traders Purchase Large Volume of Petco Health and Wellness Put Options (NASDAQ:WOOF)

Petco Health and Wellness Company, Inc. (NASDAQ:WOOF) was the target of unusually large options trading activity on Friday. Traders acquired 11,766 put options on the stock. This is an increase of 309% compared to the average daily volume of 2,879 put options.

Institutional Inflows and Outflows

Several hedge funds and other institutional investors have recently made changes to their positions in the company. Point72 Asia Singapore Pte. Ltd. lifted its stake in shares of Petco Health and Wellness by 253.7% in the third quarter. Point72 Asia Singapore Pte. Ltd. now owns 11,231 shares of the company’s stock worth $51,000 after buying an additional 8,056 shares in the last quarter. Diversified Trust Co lifted its stake in shares of Petco Health and Wellness by 57.2% in the fourth quarter. Diversified Trust Co now owns 25,486 shares of the company’s stock worth $97,000 after buying an additional 9,272 shares in the last quarter. Quadrature Capital Ltd bought a new position in shares of Petco Health and Wellness in the third quarter worth approximately $58,000. Frank Rimerman Advisors LLC bought a new position in shares of Petco Health and Wellness in the second quarter worth approximately $50,000. Finally, Sanctuary Advisors LLC bought a new position in Petco Health and Wellness during the third quarter valued at approximately $66,000.

Analysts Set New Price Targets

A number of equities analysts have issued reports on WOOF shares. StockNews.com upgraded shares of Petco Health and Wellness from a “hold” rating to a “buy” rating in a research report on Monday, December 9th. Wells Fargo & Company boosted their price objective on shares of Petco Health and Wellness from $3.00 to $5.00 and gave the company an “equal weight” rating in a research report on Friday, December 6th. Wedbush boosted their price objective on shares of Petco Health and Wellness from $5.50 to $6.00 and gave the company an “outperform” rating in a research report on Friday, December 6th. Royal Bank of Canada restated an “outperform” rating and issued a $6.00 price objective on shares of Petco Health and Wellness in a research report on Friday, December 20th. Finally, Morgan Stanley decreased their price objective on shares of Petco Health and Wellness from $6.00 to $5.00 and set an “equal weight” rating on the stock in a research report on Tuesday, January 21st. One analyst has rated the stock with a sell rating, six have assigned a hold rating and five have assigned a buy rating to the company. According to data from MarketBeat, Petco Health and Wellness currently has an average rating of “Hold” and an average price target of $4.16.

Petco Health and Wellness Price Performance

Shares of WOOF opened at $3.85 on Friday. The stock has a market cap of $1.21 billion, a PE ratio of -9.63 and a beta of 1.90. The company has a debt-to-equity ratio of 1.40, a quick ratio of 0.22 and a current ratio of 0.84. Petco Health and Wellness has a fifty-two week low of $1.41 and a fifty-two week high of $6.29. The firm’s 50-day simple moving average is $4.16 and its two-hundred day simple moving average is $3.97.

Petco Health and Wellness Company Profile

Petco Health and Wellness Company, Inc, operates as a health and wellness company, focuses on enhancing the lives of pets, pet parents, and its Petco partners in the United States, Mexico, and Puerto Rico. The company provides veterinary care, grooming, training, tele-health, and Vital Care and pet health insurance services, as well as veterinary services through Vetco mobile clinics.