Cubist Systematic Strategies LLC Acquires New Holdings in PetMed Express, Inc. (NASDAQ:PETS)

Cubist Systematic Strategies LLC bought a new position in PetMed Express, Inc. (NASDAQ:PETS) in the 2nd quarter, according to its most recent Form 13F filing with the Securities & Exchange Commission. The fund bought 196,739 shares of the company’s stock, valued at approximately $797,000. Cubist Systematic Strategies LLC owned approximately 0.96% of PetMed Express as of its most recent SEC filing.

Several other hedge funds also recently modified their holdings of the business. Invenomic Capital Management LP acquired a new position in PetMed Express during the fourth quarter worth $1,631,000. Mirae Asset Global Investments Co. Ltd. increased its holdings in shares of PetMed Express by 2,025.9% during the 1st quarter. Mirae Asset Global Investments Co. Ltd. now owns 700,916 shares of the company’s stock valued at $3,357,000 after acquiring an additional 667,946 shares during the last quarter. Price T Rowe Associates Inc. MD raised its stake in shares of PetMed Express by 48.4% in the 1st quarter. Price T Rowe Associates Inc. MD now owns 129,229 shares of the company’s stock valued at $620,000 after acquiring an additional 42,125 shares in the last quarter. BNP Paribas Financial Markets lifted its holdings in PetMed Express by 22.8% in the 1st quarter. BNP Paribas Financial Markets now owns 66,501 shares of the company’s stock worth $319,000 after purchasing an additional 12,326 shares during the last quarter. Finally, SG Americas Securities LLC bought a new stake in PetMed Express during the second quarter worth approximately $46,000. Institutional investors and hedge funds own 73.33% of the company’s stock.

Analyst Upgrades and Downgrades

A number of analysts have recently weighed in on the stock. Morgan Stanley reduced their price objective on shares of PetMed Express from $6.50 to $3.50 and set an “underweight” rating for the company in a research note on Wednesday, June 12th. Lake Street Capital restated a “hold” rating and set a $3.50 price target (down from $7.00) on shares of PetMed Express in a report on Wednesday, August 7th.

PetMed Express Stock Performance

NASDAQ PETS opened at $4.13 on Friday. PetMed Express, Inc. has a twelve month low of $2.90 and a twelve month high of $10.60. The stock has a market cap of $85.08 million, a PE ratio of -10.59 and a beta of 0.71. The firm has a 50-day simple moving average of $3.43 and a 200 day simple moving average of $3.96.

PetMed Express (NASDAQ:PETS) last announced 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. PetMed Express had a negative return on equity of 3.44% and a negative net margin of 1.24%. The company had revenue of $67.95 million during the quarter, compared to the consensus estimate of $77.52 million. Research analysts forecast that PetMed Express, Inc. will post 0.08 earnings per share for the current fiscal year.

PetMed Express 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.