Wag! Group Co. (NASDAQ:PET) Major Shareholder Buys $50,445.58 in Stock

Wag! Group Co. (NASDAQ:PET) major shareholder John P. Szabo, Jr. bought 61,519 shares of the company’s stock in a transaction dated Thursday, September 19th. The stock was purchased at an average cost of $0.82 per share, for a total transaction of $50,445.58. Following the completion of the transaction, the insider now owns 3,061,519 shares of the company’s stock, valued at $2,510,445.58. The acquisition was disclosed in a legal filing with the SEC, which is available at this link. Large shareholders that own 10% or more of a company’s shares are required to disclose their transactions with the SEC.

Wag! Group Stock Down 1.5 %

PET traded down $0.01 on Monday, reaching $0.93. 126,163 shares of the company traded hands, compared to its average volume of 110,891. The stock’s 50 day moving average price is $0.98 and its 200-day moving average price is $1.56. Wag! Group Co. has a 52-week low of $0.66 and a 52-week high of $2.47. The company has a market cap of $37.78 million, a price-to-earnings ratio of -2.61 and a beta of 1.75. The company has a debt-to-equity ratio of 15.59, a current ratio of 1.44 and a quick ratio of 1.44.

Wag! Group (NASDAQ:PET) last announced its quarterly earnings data on Wednesday, August 7th. The company reported ($0.06) EPS for the quarter, meeting analysts’ consensus estimates of ($0.06). The firm had revenue of $18.65 million for the quarter, compared to the consensus estimate of $18.60 million. Wag! Group had a negative net margin of 14.24% and a negative return on equity of 1,880.60%. On average, sell-side analysts expect that Wag! Group Co. will post -0.2 EPS for the current fiscal year.

Institutional Trading of Wag! Group

A hedge fund recently bought a new stake in Wag! Group stock. Cowen AND Company LLC acquired a new position in Wag! Group Co. (NASDAQ:PET) in the second quarter, according to its most recent 13F filing with the Securities and Exchange Commission (SEC). The fund acquired 45,000 shares of the company’s stock, valued at approximately $72,000. Cowen AND Company LLC owned about 0.11% of Wag! Group at the end of the most recent quarter. 86.16% of the stock is currently owned by institutional investors.

Wall Street Analyst Weigh In

Several research firms have recently weighed in on PET. Roth Mkm dropped their target price on shares of Wag! Group from $4.00 to $3.50 and set a “buy” rating on the stock in a research report on Tuesday, July 16th. Lake Street Capital began coverage on shares of Wag! Group in a research report on Thursday, May 30th. They issued a “buy” rating and a $4.00 target price on the stock. Finally, Oppenheimer dropped their target price on shares of Wag! Group from $6.00 to $3.00 and set an “outperform” rating on the stock in a research report on Friday, August 9th. Five research analysts have rated the stock with a buy rating, According to data from MarketBeat, Wag! Group presently has an average rating of “Buy” and a consensus price target of $4.40.

About Wag! Group

Wag! Group Co develops and supports a proprietary marketplace technology platform available as a website and mobile app that enables independent pet caregivers to connect with pet parents. Its platform allows pet parents, who require specific pet care services, such as dog walking, pet sitting and boarding, advice from licensed pet experts, home visits, training, and pet insurance comparison tools.