Bleakley Financial Group LLC Makes New Investment in PetMed Express, Inc. (NASDAQ:PETS)

Bleakley Financial Group LLC acquired a new position in PetMed Express, Inc. (NASDAQ:PETS) during the 3rd quarter, according to the company in its most recent disclosure with the Securities & Exchange Commission. The fund acquired 75,719 shares of the company’s stock, valued at approximately $279,000. Bleakley Financial Group LLC owned 0.37% of PetMed Express as of its most recent filing with the Securities & Exchange Commission.

Several other hedge funds have also added to or reduced their stakes in the stock. Point72 DIFC Ltd bought a new stake in shares of PetMed Express in the second quarter valued at approximately $34,000. Oak Thistle LLC bought a new stake in shares of PetMed Express in the first quarter valued at approximately $50,000. Marshall Wace LLP bought a new stake in shares of PetMed Express in the second quarter valued at approximately $46,000. SG Americas Securities LLC bought a new stake in shares of PetMed Express in the second quarter valued at approximately $46,000. Finally, Pinnacle Wealth Planning Services Inc. bought a new stake in shares of PetMed Express in the first quarter valued at approximately $61,000. Institutional investors own 73.33% of the company’s stock.

PetMed Express Trading Down 4.9 %

PetMed Express stock opened at $3.90 on Thursday. The firm’s 50 day simple moving average is $3.56 and its 200 day simple moving average is $3.88. The firm has a market capitalization of $80.37 million, a PE ratio of -10.00 and a beta of 0.71. PetMed Express, Inc. has a 1-year low of $2.90 and a 1-year high of $10.53.

PetMed Express (NASDAQ:PETS) last posted its earnings results on Tuesday, August 6th. The company reported $0.18 earnings per share for the quarter, topping analysts’ consensus estimates of ($0.12) by $0.30. The business had revenue of $67.95 million for the quarter, compared to analyst estimates of $77.52 million. PetMed Express had a negative net margin of 1.24% and a negative return on equity of 3.44%. Research analysts forecast that PetMed Express, Inc. will post 0.08 earnings per share for the current year.

Insiders Place Their Bets

In related news, major shareholder Nina Capital Holdings Inc. purchased 12,500 shares of the business’s stock in a transaction on Monday, September 9th. The stock was acquired at an average price of $3.34 per share, with a total value of $41,750.00. Following the purchase, the insider now directly owns 2,078,000 shares in the company, valued at approximately $6,940,520. This represents a 0.00 % increase in their ownership of the stock. The purchase was disclosed in a legal filing with the Securities & Exchange Commission, which is available through this link. Corporate insiders own 1.10% of the company’s stock.

Wall Street Analysts Forecast Growth

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

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.