Renaissance Technologies LLC Decreases Stake in PetMed Express, Inc. (NASDAQ:PETS)

Renaissance Technologies LLC decreased its holdings in PetMed Express, Inc. (NASDAQ:PETS) by 20.1% in the 2nd quarter, according to its most recent Form 13F filing with the SEC. The institutional investor owned 1,264,569 shares of the company’s stock after selling 318,215 shares during the quarter. Renaissance Technologies LLC owned about 6.14% of PetMed Express worth $5,122,000 as of its most recent filing with the SEC.

A number of other hedge funds and other institutional investors also recently bought and sold shares of the business. Quest Partners LLC purchased a new position in shares of PetMed Express in the 4th quarter valued at about $47,000. Oak Thistle LLC purchased a new position in PetMed Express in the first quarter valued at about $50,000. SG Americas Securities LLC acquired a new stake in shares of PetMed Express during the 2nd quarter valued at approximately $46,000. Pinnacle Wealth Planning Services Inc. purchased a new stake in shares of PetMed Express during the 1st quarter worth approximately $61,000. Finally, Legacy Advisors LLC acquired a new stake in shares of PetMed Express in the 2nd quarter worth approximately $96,000. Institutional investors and hedge funds own 73.33% of the company’s stock.

PetMed Express Stock Performance

Shares of NASDAQ:PETS opened at $3.68 on Friday. The business’s fifty day moving average price is $3.44 and its two-hundred day moving average price is $3.99. The stock has a market cap of $75.83 million, a PE ratio of -9.44 and a beta of 0.71. PetMed Express, Inc. has a one year low of $2.90 and a one year high of $11.20.

PetMed Express (NASDAQ:PETS) last posted its quarterly earnings data on Tuesday, August 6th. The company reported $0.18 EPS for the quarter, topping analysts’ consensus estimates of ($0.12) by $0.30. The firm had revenue of $67.95 million during the quarter, compared to analysts’ expectations of $77.52 million. PetMed Express had a negative return on equity of 3.44% and a negative net margin of 1.24%. As a group, equities research analysts predict that PetMed Express, Inc. will post 0.08 earnings per share for the current fiscal year.

Wall Street Analyst Weigh In

PETS has been the subject of several research reports. Lake Street Capital reaffirmed a “hold” rating and set a $3.50 price objective (down from $7.00) on shares of PetMed Express in a report on Wednesday, August 7th. Morgan Stanley decreased their price objective on shares of PetMed Express from $6.50 to $3.50 and set an “underweight” rating on the stock in a research report on Wednesday, June 12th.

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.