Insider Buying: Wag! Group Co. (NASDAQ:PET) Major Shareholder Acquires 61,519 Shares of Stock

Wag! Group Co. (NASDAQ:PET) major shareholder John P. Szabo, Jr. purchased 61,519 shares of the stock in a transaction on Thursday, September 19th. The stock was acquired at an average cost of $0.82 per share, for a total transaction of $50,445.58. Following the acquisition, the insider now directly owns 3,061,519 shares in the company, valued at $2,510,445.58. The transaction was disclosed in a filing with the SEC, which can be accessed through this link. Large shareholders that own at least 10% of a company’s shares are required to disclose their sales and purchases with the SEC.

Wag! Group Price Performance

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. The company’s fifty day moving average is $0.98 and its two-hundred day moving average is $1.56. The company has a debt-to-equity ratio of 15.59, a current ratio of 1.44 and a quick ratio of 1.44. Wag! Group Co. has a 52 week low of $0.66 and a 52 week high of $2.47. The stock has a market capitalization of $37.78 million, a price-to-earnings ratio of -2.61 and a beta of 1.75.

Wag! Group (NASDAQ:PET) last posted its earnings results on Wednesday, August 7th. The company reported ($0.06) earnings per share for the quarter, hitting the consensus estimate of ($0.06). The business had revenue of $18.65 million for 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%. On average, analysts anticipate that Wag! Group Co. will post -0.2 EPS for the current year.

Wall Street Analyst Weigh In

PET has been the topic of several analyst reports. Roth Mkm lowered their price target on shares of Wag! Group from $4.00 to $3.50 and set a “buy” rating on the stock in a report on Tuesday, July 16th. Lake Street Capital initiated coverage on shares of Wag! Group in a report on Thursday, May 30th. They issued a “buy” rating and a $4.00 price target on the stock. Finally, Oppenheimer lowered their price target on shares of Wag! Group from $6.00 to $3.00 and set an “outperform” rating on the stock in a report on Friday, August 9th. Five analysts have rated the stock with a buy rating, Based on data from MarketBeat.com, Wag! Group has an average rating of “Buy” and an average price target of $4.40.

Institutional Inflows and Outflows

An institutional investor recently bought a new position in Wag! Group stock. Cowen AND Company LLC purchased a new position in shares of Wag! Group Co. (NASDAQ:PET) during the 2nd quarter, according to the company in its most recent filing with the SEC. The institutional investor purchased 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.

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.