Point72 Asia Singapore Pte. Ltd. Makes New Investment 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, according to its most recent disclosure with the SEC. The fund acquired 33,430 shares of the company’s stock, valued at approximately $135,000. Point72 Asia Singapore Pte. Ltd. owned approximately 0.16% of PetMed Express as of its most recent filing with the SEC.

A number of other hedge funds and other institutional investors have also recently made changes to their positions in PETS. Invenomic Capital Management LP bought a new stake in shares of PetMed Express during the fourth quarter valued at approximately $1,631,000. Virtu Financial LLC purchased a new position in PetMed Express during the fourth quarter valued at $188,000. Oak Thistle LLC bought a new stake in shares of PetMed Express during the 1st quarter valued at $50,000. Mirae Asset Global Investments Co. Ltd. boosted its holdings in shares of 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 in the last quarter. Finally, BNP Paribas Financial Markets grew its position in shares of PetMed Express by 22.8% in the 1st quarter. BNP Paribas Financial Markets now owns 66,501 shares of the company’s stock worth $319,000 after buying an additional 12,326 shares during the period. Hedge funds and other institutional investors own 73.33% of the company’s stock.

Wall Street Analysts Forecast Growth

A number of brokerages recently issued reports on PETS. Lake Street Capital reissued a “hold” rating and set a $3.50 price target (down from $7.00) on shares of PetMed Express in a research report on Wednesday, August 7th. Morgan Stanley lowered their target price on shares of PetMed Express from $6.50 to $3.50 and set an “underweight” rating for the company in a report on Wednesday, June 12th.

PetMed Express Trading Up 6.2 %

NASDAQ PETS opened at $4.13 on Friday. PetMed Express, Inc. has a 12 month low of $2.90 and a 12 month high of $10.60. The stock’s fifty 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 (NASDAQ:PETS) last announced its quarterly earnings data on Tuesday, August 6th. The company reported $0.18 EPS for the quarter, beating the consensus estimate of ($0.12) by $0.30. The company 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%. As a group, analysts forecast 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.