PetMed Express, Inc. (NASDAQ:PETS) Short Interest Update
PetMed Express, Inc. (NASDAQ:PETS) was the recipient of a significant growth in short interest in the month of July. As of July 31st, there was short interest totalling 3,219,148 shares, a growth of 24.0% from the July 14th total of 2,596,931 shares. Currently, 16.3% of the company’s shares are sold short. Based on an average trading volume of 1,098,570 shares, the days-to-cover ratio is presently 2.9 days.
PetMed Express (PETS) opened at 47.76 on Friday. PetMed Express has a 52-week low of $18.90 and a 52-week high of $50.90. The firm has a 50 day moving average of $43.59 and a 200-day moving average of $30.19. The stock has a market cap of $969.15 million, a PE ratio of 36.74 and a beta of 0.99.
PetMed Express (NASDAQ:PETS) last posted its quarterly earnings results on Monday, July 24th. The company reported $0.45 EPS for the quarter, topping the Thomson Reuters’ consensus estimate of $0.38 by $0.07. The company had revenue of $79.66 million for the quarter, compared to the consensus estimate of $77.32 million. PetMed Express had a net margin of 10.34% and a return on equity of 28.67%. The firm’s revenue was up 9.9% compared to the same quarter last year. During the same quarter last year, the firm posted $0.32 EPS. Equities analysts anticipate that PetMed Express will post $1.44 earnings per share for the current fiscal year.
The firm also recently announced a quarterly dividend, which will be paid on Friday, August 18th. Shareholders of record on Monday, August 7th will be given a dividend of $0.20 per share. This represents a $0.80 dividend on an annualized basis and a yield of 1.68%. The ex-dividend date is Thursday, August 3rd. PetMed Express’s dividend payout ratio (DPR) is 61.54%.
In other PetMed Express news, Director Ronald J. Korn sold 5,000 shares of the business’s stock in a transaction dated Friday, July 28th. The shares were sold at an average price of $48.18, for a total value of $240,900.00. Following the transaction, the director now owns 67,333 shares in the company, valued at $3,244,103.94. The transaction was disclosed in a filing with the Securities & Exchange Commission, which is available through this hyperlink. Also, Director Robert C. Schweitzer sold 2,500 shares of the business’s stock in a transaction dated Tuesday, August 1st. The shares were sold at an average price of $49.18, for a total transaction of $122,950.00. Following the completion of the transaction, the director now owns 88,834 shares in the company, valued at approximately $4,368,856.12. The disclosure for this sale can be found here. Insiders sold 24,333 shares of company stock worth $1,126,330 in the last 90 days. Corporate insiders own 4.00% of the company’s stock.
Hedge funds and other institutional investors have recently bought and sold shares of the stock. Acadian Asset Management LLC acquired a new position in PetMed Express during the second quarter worth approximately $18,691,000. Oaktop Capital Management II L.P. acquired a new position in PetMed Express during the second quarter worth approximately $15,171,000. Vanguard Group Inc. increased its position in PetMed Express by 21.0% in the second quarter. Vanguard Group Inc. now owns 1,300,725 shares of the company’s stock worth $52,810,000 after buying an additional 225,474 shares during the period. Renaissance Technologies LLC increased its position in PetMed Express by 11.8% in the first quarter. Renaissance Technologies LLC now owns 1,786,315 shares of the company’s stock worth $35,976,000 after buying an additional 188,615 shares during the period. Finally, Dimensional Fund Advisors LP increased its position in PetMed Express by 24.0% in the first quarter. Dimensional Fund Advisors LP now owns 794,669 shares of the company’s stock worth $16,005,000 after buying an additional 153,709 shares during the period. 78.36% of the stock is currently owned by institutional investors and hedge funds.
PETS has been the topic of a number of analyst reports. Craig Hallum cut shares of PetMed Express from a “buy” rating to a “hold” rating in a research report on Tuesday, July 11th. Zacks Investment Research upgraded shares of PetMed Express from a “hold” rating to a “strong-buy” rating and set a $38.00 price objective on the stock in a research report on Wednesday, May 10th. Noble Financial restated a “hold” rating on shares of PetMed Express in a research report on Wednesday, July 26th. Finally, Northcoast Research upgraded shares of PetMed Express from a “neutral” rating to a “buy” rating and set a $54.00 price objective on the stock in a research report on Monday, July 24th. One research analyst has rated the stock with a sell rating, two have assigned a hold rating, one has assigned a buy rating and one has given a strong buy rating to the company’s stock. The stock has a consensus rating of “Hold” and an average target price of $35.00.
About PetMed Express
PetMed Express, Inc (PetMed Express), doing business as 1800PetMeds, is a pet pharmacy. The Company markets prescription and non-prescription pet medications, and other health products for dogs and cats, direct to the consumer. It offers a selection of products for dogs and cats. Its product line contains approximately 3,000 stock keeping units (SKUS) of pet medications, health products and supplies.
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