Short Interest in Petmed Express Inc (NASDAQ:PETS) Drops By 10.0%

Petmed Express Inc (NASDAQ:PETS) was the recipient of a significant drop in short interest during the month of January. As of January 31st, there was short interest totalling 6,200,000 shares, a drop of 10.0% from the January 15th total of 6,890,000 shares. Approximately 32.1% of the shares of the company are short sold. Based on an average trading volume of 585,600 shares, the days-to-cover ratio is presently 10.6 days.

Several large investors have recently added to or reduced their stakes in the business. Russell Investments Group Ltd. boosted its holdings in shares of Petmed Express by 122.4% during the 3rd quarter. Russell Investments Group Ltd. now owns 25,471 shares of the company’s stock worth $459,000 after buying an additional 14,017 shares during the period. Rhumbline Advisers lifted its position in Petmed Express by 43.8% during the third quarter. Rhumbline Advisers now owns 149,065 shares of the company’s stock worth $2,686,000 after acquiring an additional 45,387 shares during the last quarter. Man Group plc boosted its holdings in shares of Petmed Express by 11.4% during the third quarter. Man Group plc now owns 546,569 shares of the company’s stock worth $9,849,000 after acquiring an additional 55,815 shares during the period. State Street Corp boosted its holdings in shares of Petmed Express by 3.6% during the third quarter. State Street Corp now owns 853,315 shares of the company’s stock worth $15,377,000 after acquiring an additional 29,277 shares during the period. Finally, Millennium Management LLC boosted its holdings in shares of Petmed Express by 60.4% during the third quarter. Millennium Management LLC now owns 270,246 shares of the company’s stock worth $4,869,000 after acquiring an additional 101,794 shares during the period. Hedge funds and other institutional investors own 86.98% of the company’s stock.

Shares of PETS stock traded down $0.62 during trading on Friday, reaching $27.79. 481,415 shares of the company’s stock were exchanged, compared to its average volume of 530,611. The stock has a market capitalization of $570.90 million, a PE ratio of 22.23 and a beta of 0.67. Petmed Express has a twelve month low of $15.00 and a twelve month high of $28.98. The firm’s fifty day moving average price is $25.31 and its 200-day moving average price is $21.26.

Petmed Express (NASDAQ:PETS) last announced its quarterly earnings results on Tuesday, January 21st. The company reported $0.34 earnings per share (EPS) for the quarter, beating the consensus estimate of $0.30 by $0.04. Petmed Express had a return on equity of 19.91% and a net margin of 9.28%. The business had revenue of $59.92 million during the quarter, compared to the consensus estimate of $61.31 million. During the same quarter last year, the firm posted $0.38 EPS. The company’s quarterly revenue was down .2% on a year-over-year basis.

The business also recently disclosed a quarterly dividend, which will be paid on Friday, February 14th. Shareholders of record on Monday, February 3rd will be issued a $0.27 dividend. The ex-dividend date is Friday, January 31st. This represents a $1.08 annualized dividend and a dividend yield of 3.89%.

A number of research analysts have recently commented on PETS shares. Craig Hallum lifted their price objective on shares of Petmed Express from $15.00 to $20.00 and gave the company a “hold” rating in a research report on Thursday, October 17th. ValuEngine raised shares of Petmed Express from a “sell” rating to a “hold” rating in a report on Tuesday, January 28th. TheStreet upgraded shares of Petmed Express from a “c” rating to a “b-” rating in a research note on Tuesday, October 22nd. BidaskClub upgraded Petmed Express from a “buy” rating to a “strong-buy” rating in a report on Tuesday. Finally, Sidoti reissued a “buy” rating and set a $29.00 price target on shares of Petmed Express in a research report on Thursday, January 2nd. Two analysts have rated the stock with a hold rating, one has issued a buy rating and one has issued a strong buy rating to the stock. The stock has an average rating of “Buy” and an average target price of $24.50.

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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