Wag! Group Co. (NASDAQ:PET) Major Shareholder Buys $46,500.00 in Stock

Wag! Group Co. (NASDAQ:PET) major shareholder John P. Szabo, Jr. bought 50,000 shares of the company’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 owns 3,250,000 shares in the company, valued at $3,022,500. The purchase was disclosed in a filing with the Securities & Exchange Commission, which is available through the SEC website. Major shareholders that own at least 10% of a company’s shares are required to disclose their sales and purchases with the SEC.

Wag! Group Stock Performance

Wag! Group stock traded down $0.01 during mid-day trading on Monday, reaching $0.93. The company’s stock had a trading volume of 126,163 shares, compared to its average volume of 110,891. Wag! Group Co. has a 12-month low of $0.66 and a 12-month high of $2.47. The company 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 quick ratio of 1.44 and a current ratio of 1.44. The firm’s fifty day moving average price is $0.98 and its two-hundred day moving average price is $1.56.

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

Institutional Inflows and Outflows

A hedge fund recently bought a new stake in Wag! Group stock. Cowen AND Company LLC acquired a new position in shares of Wag! Group Co. (NASDAQ:PET) in the second quarter, according to its most recent disclosure with the Securities and Exchange Commission. 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 as of its most recent filing with the Securities and Exchange Commission. 86.16% of the stock is currently owned by hedge funds and other institutional investors.

Analysts Set New Price Targets

PET has been the subject of several research analyst reports. Roth Mkm decreased their price target on shares of Wag! Group from $4.00 to $3.50 and set a “buy” rating for the company in a research note on Tuesday, July 16th. Lake Street Capital initiated coverage on shares of Wag! Group in a research note on Thursday, May 30th. They set a “buy” rating and a $4.00 price target for the company. Finally, Oppenheimer decreased their price target on shares of Wag! Group from $6.00 to $3.00 and set an “outperform” rating for the company in a research note on Friday, August 9th. Five investment analysts have rated the stock with a buy rating, Based on data from MarketBeat, Wag! Group has an average rating of “Buy” and an average 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.