Petmed Express Inc (NASDAQ:PETS) Short Interest Down 8.4% in July

Petmed Express Inc (NASDAQ:PETS) was the target of a significant decrease in short interest in the month of July. As of July 31st, there was short interest totalling 10,085,600 shares, a decrease of 8.4% from the June 30th total of 11,004,600 shares. Based on an average daily volume of 835,300 shares, the short-interest ratio is currently 12.1 days. Approximately 50.8% of the company’s shares are sold short.

Petmed Express stock traded up $0.82 during trading hours on Friday, reaching $16.50. 852,857 shares of the company’s stock were exchanged, compared to its average volume of 750,682. The firm’s 50 day simple moving average is $16.03 and its 200 day simple moving average is $19.59. Petmed Express has a twelve month low of $15.00 and a twelve month high of $38.90. The firm has a market capitalization of $337.93 million, a PE ratio of 11.32 and a beta of 0.54.

Petmed Express (NASDAQ:PETS) last issued 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). Petmed Express had a return on equity of 23.42% and a net margin of 11.05%. The business had revenue of $79.99 million for the quarter, compared to analyst estimates of $85.83 million. During the same quarter in the previous year, the business posted $0.62 earnings per share. The business’s revenue was down 8.5% on a year-over-year basis.

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

A number of institutional investors have recently modified their holdings of PETS. Renaissance Technologies LLC grew its holdings in Petmed Express by 15.6% during the 2nd quarter. Renaissance Technologies LLC now owns 1,914,915 shares of the company’s stock worth $30,007,000 after acquiring an additional 259,100 shares during the period. Man Group plc grew its holdings in Petmed Express by 84.4% during the 2nd quarter. Man Group plc now owns 490,754 shares of the company’s stock worth $7,690,000 after acquiring an additional 224,632 shares during the period. Deutsche Bank AG grew its holdings in Petmed Express by 166.1% during the 4th quarter. Deutsche Bank AG now owns 329,962 shares of the company’s stock worth $7,673,000 after acquiring an additional 205,960 shares during the period. LSV Asset Management grew its holdings in Petmed Express by 35.0% during the 1st quarter. LSV Asset Management now owns 762,337 shares of the company’s stock worth $17,366,000 after acquiring an additional 197,550 shares during the period. Finally, Vanguard Group Inc. grew its stake in shares of Petmed Express by 11.4% in the 2nd quarter. Vanguard Group Inc. now owns 1,407,736 shares of the company’s stock valued at $22,059,000 after buying an additional 143,496 shares during the period. Hedge funds and other institutional investors own 95.04% of the company’s stock.

A number of research firms recently weighed in on PETS. BidaskClub upgraded Petmed Express from a “sell” rating to a “hold” rating in a report on Thursday, August 1st. Craig Hallum downgraded Petmed Express from a “buy” rating to a “hold” rating in a report on Friday.

Petmed Express Company Profile

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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