Insider Buying: Wag! Group Co. (NASDAQ:PET) Major Shareholder Acquires 50,000 Shares of Stock

Wag! Group Co. (NASDAQ:PET) major shareholder John P. Szabo, Jr. purchased 50,000 shares of the business’s stock in a transaction on Monday, September 23rd. The shares were purchased at an average cost of $0.93 per share, for a total transaction of $46,500.00. Following the transaction, the insider now directly owns 3,250,000 shares of the company’s stock, valued at approximately $3,022,500. The purchase was disclosed in a legal filing with the SEC, which can be accessed through this hyperlink. Large shareholders that own 10% or more of a company’s shares are required to disclose their sales and purchases with the SEC.

Wag! Group Stock Down 1.5 %

Shares of PET traded down $0.01 during trading hours on Monday, hitting $0.93. The stock had a trading volume of 126,163 shares, compared to its average volume of 110,891. Wag! Group Co. has a 1-year low of $0.66 and a 1-year high of $2.47. The firm has a market capitalization of $37.78 million, a P/E ratio of -2.58 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. The firm has a 50 day simple moving average of $0.98 and a 200-day simple moving average of $1.56.

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

Hedge Funds Weigh In On Wag! Group

An institutional investor recently bought a new position in Wag! Group stock. Cowen AND Company LLC bought a new position in shares of Wag! Group Co. (NASDAQ:PET) during the 2nd quarter, according to the company in its most recent Form 13F filing with the Securities and Exchange Commission. The firm bought 45,000 shares of the company’s stock, valued at approximately $72,000. Cowen AND Company LLC owned approximately 0.11% of Wag! Group as of its most recent SEC filing. Hedge funds and other institutional investors own 86.16% of the company’s stock.

Wall Street Analyst Weigh In

A number of analysts have commented on PET shares. Oppenheimer cut their price target 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. Lake Street Capital started coverage on Wag! Group in a research note on Thursday, May 30th. They issued a “buy” rating and a $4.00 target price for the company. Finally, Roth Mkm reduced their target price on Wag! Group from $4.00 to $3.50 and set a “buy” rating for the company in a research note on Tuesday, July 16th. Five equities research analysts have rated the stock with a buy rating, According to data from MarketBeat.com, the stock currently has an average rating of “Buy” and a consensus target price of $4.40.

Wag! Group Company Profile

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.