Petmed Express (NASDAQ:PETS) Shares Up 5.2%

Petmed Express Inc (NASDAQ:PETS) shares shot up 5.2% during mid-day trading on Friday . The stock traded as high as $16.87 and last traded at $16.50, 852,857 shares changed hands during trading. An increase of 14% from the average session volume of 750,682 shares. The stock had previously closed at $15.68.

Several brokerages recently issued reports on PETS. BidaskClub upgraded Petmed Express from a “sell” rating to a “hold” rating in a research note on Thursday, August 1st. Craig Hallum cut Petmed Express from a “buy” rating to a “hold” rating in a research note on Friday.

The firm has a market cap of $316.34 million, a price-to-earnings ratio of 10.60 and a beta of 0.54. The stock has a 50-day moving average of $16.03 and a two-hundred day moving average of $19.59.



Petmed Express (NASDAQ:PETS) last released its quarterly earnings results on Monday, July 22nd. The company reported $0.26 earnings per share for the quarter, missing the Zacks’ consensus estimate of $0.42 by ($0.16). The company had revenue of $79.99 million during the quarter, compared to analyst estimates of $85.83 million. Petmed Express had a net margin of 11.05% and a return on equity of 23.42%. The company’s revenue for the quarter was down 8.5% compared to the same quarter last year. During the same quarter last year, the business earned $0.62 EPS.

The firm also recently declared a quarterly dividend, which was paid on Friday, August 9th. Shareholders of record on Friday, August 2nd were given a $0.27 dividend. This represents a $1.08 annualized dividend and a yield of 6.55%. The ex-dividend date of this dividend was Thursday, August 1st.

A number of hedge funds and other institutional investors have recently modified their holdings of PETS. Freestone Capital Holdings LLC bought a new stake in Petmed Express in the first quarter valued at about $22,780,000. Manchester Capital Management LLC boosted its position in shares of Petmed Express by 185.8% during the first quarter. Manchester Capital Management LLC now owns 1,938 shares of the company’s stock worth $44,000 after buying an additional 1,260 shares during the period. Financial Gravity Wealth Inc. acquired a new position in shares of Petmed Express during the first quarter worth about $49,000. Tyers Asset Management LLC boosted its position in shares of Petmed Express by 20.7% during the second quarter. Tyers Asset Management LLC now owns 4,356 shares of the company’s stock worth $68,000 after buying an additional 748 shares during the period. Finally, Riverhead Capital Management LLC boosted its position in shares of Petmed Express by 19.4% during the second quarter. Riverhead Capital Management LLC now owns 4,917 shares of the company’s stock worth $77,000 after buying an additional 800 shares during the period. 95.04% of the stock is currently owned by institutional investors.

About Petmed Express (NASDAQ:PETS)

PetMed Express, Inc and its subsidiaries, doing business as 1-800-PetMeds, operates as a pet pharmacy in the United States. It markets prescription and non-prescription pet medications, and other health products for dogs and cats directly to the consumers. The company offers non-prescription medications and supplies, including flea and tick control products, bone and joint care products, vitamins, treats, nutritional supplements, hygiene products, and supplies; and prescription medications, such as heartworm preventative, flea and tick preventative, arthritis, thyroid, diabetes, pain, heart/blood pressure, and other specialty medications, as well as generic substitutes.

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