Ameriprise Financial Inc. reduced its stake in PetMed Express Inc. (NASDAQ:PETS) by 47.7% during the second quarter, Holdings Channel reports. The institutional investor owned 266,250 shares of the company’s stock after selling 242,711 shares during the period. Ameriprise Financial Inc. owned about 1.32% of PetMed Express worth $4,996,000 at the end of the most recent quarter.
A number of other large investors also recently added to or reduced their stakes in PETS. First Midwest Bank Trust Division raised its stake in PetMed Express by 46.0% in the second quarter. First Midwest Bank Trust Division now owns 41,432 shares of the company’s stock valued at $777,000 after buying an additional 13,058 shares in the last quarter. Bank of Montreal Can bought a new stake in PetMed Express during the second quarter valued at approximately $143,000. Acadian Asset Management LLC bought a new stake in PetMed Express during the second quarter valued at approximately $1,483,000. Cutler Group LP raised its stake in PetMed Express by 832.0% in the second quarter. Cutler Group LP now owns 7,064 shares of the company’s stock valued at $132,000 after buying an additional 8,029 shares in the last quarter. Finally, North Star Investment Management Corp. raised its stake in PetMed Express by 1.5% in the second quarter. North Star Investment Management Corp. now owns 126,178 shares of the company’s stock valued at $2,367,000 after buying an additional 1,903 shares in the last quarter. Institutional investors and hedge funds own 75.97% of the company’s stock.
Shares of PetMed Express Inc. (NASDAQ:PETS) traded up 0.68% on Friday, hitting $20.63. The stock had a trading volume of 74,573 shares. The stock has a market cap of $416.31 million, a P/E ratio of 19.65 and a beta of 1.07. PetMed Express Inc. has a 12 month low of $15.61 and a 12 month high of $21.16. The firm has a 50 day moving average of $20.43 and a 200 day moving average of $19.32.
PetMed Express (NASDAQ:PETS) last posted its earnings results on Monday, July 25th. The company reported $0.32 earnings per share for the quarter, topping the consensus estimate of $0.31 by $0.01. The firm earned $72.50 million during the quarter. PetMed Express had a return on equity of 25.97% and a net margin of 9.09%. PetMed Express’s revenue for the quarter was up 1.3% compared to the same quarter last year. During the same quarter in the previous year, the firm earned $0.29 EPS. On average, equities analysts forecast that PetMed Express Inc. will post $1.11 earnings per share for the current fiscal year.
Several equities research analysts have commented on the company. Zacks Investment Research upgraded PetMed Express from a “hold” rating to a “buy” rating and set a $23.00 price objective on the stock in a research report on Wednesday, July 27th. Credit Suisse Group AG restated a “sell” rating and issued a $13.00 price objective on shares of PetMed Express in a research report on Tuesday, August 16th.
In related news, insider Bruce S. Rosenbloom sold 1,500 shares of the business’s stock in a transaction that occurred on Monday, October 10th. The stock was sold at an average price of $21.00, for a total transaction of $31,500.00. Following the completion of the sale, the insider now owns 41,767 shares in the company, valued at $877,107. The transaction was disclosed in a document filed with the SEC, which is available through the SEC website. Also, CEO Menderes Akdag sold 10,000 shares of PetMed Express stock in a transaction that occurred on Thursday, September 22nd. The stock was sold at an average price of $20.75, for a total value of $207,500.00. Following the transaction, the chief executive officer now directly owns 610,000 shares in the company, valued at approximately $12,657,500. The disclosure for this sale can be found here. Corporate insiders own 4.70% of the company’s stock.
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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