Point72 DIFC Ltd Makes New Investment in PetMed Express, Inc. (NASDAQ:PETS)

Point72 DIFC Ltd bought a new position in shares of PetMed Express, Inc. (NASDAQ:PETS) during the 2nd quarter, HoldingsChannel reports. The firm bought 8,278 shares of the company’s stock, valued at approximately $34,000.

Other hedge funds and other institutional investors also recently added to or reduced their stakes in the company. Mirae Asset Global Investments Co. Ltd. lifted its position in shares of PetMed Express by 2,025.9% during the first quarter. Mirae Asset Global Investments Co. Ltd. now owns 700,916 shares of the company’s stock valued at $3,357,000 after buying an additional 667,946 shares during the last quarter. Invenomic Capital Management LP purchased a new stake in shares of PetMed Express during the fourth quarter valued at about $1,631,000. Federated Hermes Inc. lifted its position in shares of PetMed Express by 54.5% during the second quarter. Federated Hermes Inc. now owns 606,430 shares of the company’s stock valued at $2,456,000 after buying an additional 213,903 shares during the last quarter. BNP Paribas Financial Markets lifted its position in shares of PetMed Express by 963.1% during the fourth quarter. BNP Paribas Financial Markets now owns 54,175 shares of the company’s stock valued at $410,000 after buying an additional 49,079 shares during the last quarter. Finally, Price T Rowe Associates Inc. MD lifted its position in shares of PetMed Express by 48.4% during the first quarter. Price T Rowe Associates Inc. MD now owns 129,229 shares of the company’s stock valued at $620,000 after buying an additional 42,125 shares during the last quarter. 73.33% of the stock is currently owned by institutional investors.

Analyst Upgrades and Downgrades

Several analysts have commented on PETS shares. Morgan Stanley decreased their price target on shares of PetMed Express from $6.50 to $3.50 and set an “underweight” rating for the company in a research report on Wednesday, June 12th. Lake Street Capital reissued a “hold” rating and set a $3.50 price target (down from $7.00) on shares of PetMed Express in a research report on Wednesday, August 7th.

PetMed Express Stock Up 1.1 %

Shares of PetMed Express stock opened at $3.68 on Monday. The firm has a market capitalization of $75.81 million, a P/E ratio of -9.44 and a beta of 0.71. The company has a 50 day moving average price of $3.44 and a 200 day moving average price of $3.98. PetMed Express, Inc. has a 52 week low of $2.90 and a 52 week high of $11.20.

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

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.