Charles Schwab Investment Management Inc. Cuts Stake in PetMed Express, Inc. (NASDAQ:PETS)

Charles Schwab Investment Management Inc. reduced its stake in PetMed Express, Inc. (NASDAQ:PETS - Free Report) by 49.3% in the third quarter, according to its most recent filing with the Securities and Exchange Commission. The fund owned 205,635 shares of the company's stock after selling 200,150 shares during the quarter. Charles Schwab Investment Management Inc. owned approximately 1.00% of PetMed Express worth $757,000 as of its most recent SEC filing.

Several other large investors have also bought and sold shares of PETS. Point72 DIFC Ltd purchased a new position in PetMed Express in the second quarter worth $34,000. Marshall Wace LLP purchased a new stake in PetMed Express during the second quarter worth about $46,000. SG Americas Securities LLC bought a new stake in PetMed Express in the second quarter worth about $46,000. Legacy Advisors LLC purchased a new position in PetMed Express in the second quarter valued at about $96,000. Finally, Point72 Asia Singapore Pte. Ltd. bought a new position in shares of PetMed Express during the 2nd quarter valued at approximately $135,000. 73.33% of the stock is currently owned by institutional investors.

Analyst Ratings Changes

Separately, StockNews.com raised PetMed Express from a "hold" rating to a "buy" rating in a report on Tuesday, November 12th.

PetMed Express Trading Down 3.4 %

Shares of PETS stock traded down $0.18 during trading on Thursday, reaching $5.10. 210,218 shares of the company's stock traded hands, compared to its average volume of 338,783. The company has a market capitalization of $105.38 million, a P/E ratio of -85.00 and a beta of 0.71. The firm's 50-day moving average is $4.76 and its 200 day moving average is $4.08. PetMed Express, Inc. has a 1 year low of $2.90 and a 1 year high of $7.79.

PetMed Express (NASDAQ:PETS - Get Free Report) last announced its quarterly earnings results on Wednesday, November 6th. The company reported $0.11 EPS for the quarter, beating the consensus estimate of ($0.06) by $0.17. PetMed Express had a negative net margin of 0.37% and a negative return on equity of 1.00%. The firm had revenue of $59.57 million during the quarter, compared to the consensus estimate of $66.02 million. As a group, sell-side analysts predict that PetMed Express, Inc. will post 0.24 earnings per share for the current fiscal year.

Insiders Place Their Bets

In related news, Director Leslie C.G. Campbell bought 15,000 shares of the business's stock in a transaction that occurred on Wednesday, December 4th. The stock was bought at an average cost of $5.38 per share, for a total transaction of $80,700.00. Following the completion of the transaction, the director now owns 70,000 shares of the company's stock, valued at approximately $376,600. The trade was a 27.27 % increase in their ownership of the stock. The transaction was disclosed in a filing with the Securities & Exchange Commission, which is available through this hyperlink. Corporate insiders own 1.10% of the company's stock.

PetMed Express Company Profile

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