Invenomic Capital Management LP Decreases Position in PetMed Express, Inc. (NASDAQ:PETS)

Invenomic Capital Management LP trimmed its stake in PetMed Express, Inc. (NASDAQ:PETS) by 16.2% in the 3rd quarter, according to its most recent filing with the Securities and Exchange Commission (SEC). The fund owned 172,653 shares of the company’s stock after selling 33,332 shares during the period. Invenomic Capital Management LP’s holdings in PetMed Express were worth $635,000 at the end of the most recent reporting period.

A number of other institutional investors and hedge funds have also recently modified their holdings of the stock. Sei Investments Co. lifted its position in PetMed Express by 8.3% in the second quarter. Sei Investments Co. now owns 44,220 shares of the company’s stock worth $179,000 after buying an additional 3,400 shares during the last quarter. Point72 DIFC Ltd purchased a new stake in shares of PetMed Express in the second quarter valued at $34,000. Vanguard Group Inc. lifted its holdings in shares of PetMed Express by 0.8% in the 1st quarter. Vanguard Group Inc. now owns 1,186,485 shares of the company’s stock worth $5,683,000 after acquiring an additional 9,226 shares during the last quarter. Marshall Wace LLP purchased a new position in shares of PetMed Express during the 2nd quarter worth about $46,000. Finally, SG Americas Securities LLC bought a new position in PetMed Express during the 2nd quarter valued at about $46,000. Hedge funds and other institutional investors own 73.33% of the company’s stock.

Wall Street Analyst Weigh In

Several analysts have issued reports on the stock. Lake Street Capital reissued a “hold” rating and issued a $3.50 price objective (down previously from $7.00) on shares of PetMed Express in a research note on Wednesday, August 7th. StockNews.com upgraded PetMed Express from a “hold” rating to a “buy” rating in a report on Tuesday, November 12th.

PetMed Express Price Performance

PETS stock opened at $4.99 on Wednesday. PetMed Express, Inc. has a 12 month low of $2.90 and a 12 month high of $7.90. The firm’s 50-day moving average is $4.31 and its 200 day moving average is $3.96. The company has a market capitalization of $103.09 million, a PE ratio of -83.17 and a beta of 0.71.

PetMed Express (NASDAQ:PETS) last issued its earnings results on Wednesday, November 6th. The company reported $0.11 EPS for the quarter, topping analysts’ consensus estimates of ($0.06) by $0.17. The business had revenue of $59.57 million for the quarter, compared to analyst estimates of $66.02 million. PetMed Express had a negative net margin of 0.37% and a negative return on equity of 1.00%. Sell-side analysts forecast that PetMed Express, Inc. will post 0.24 EPS for the current fiscal year.

Insiders Place Their Bets

In other PetMed Express news, major shareholder Nina Capital Holdings Inc. purchased 12,500 shares of PetMed Express stock in a transaction dated Monday, September 9th. The stock was acquired at an average price of $3.34 per share, for a total transaction of $41,750.00. Following the acquisition, the insider now owns 2,078,000 shares in the company, valued at $6,940,520. This trade represents a 0.61 % increase in their position. The purchase was disclosed in a document filed with the Securities & Exchange Commission, which can be accessed through this hyperlink. 1.10% of the stock is currently owned by company insiders.

About PetMed Express

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.