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Silvercape Investments Ltd, a ten-percent owner of Petmed Express Inc (NASDAQ:PETS), recently purchased 17,565 shares of the company’s common stock. According to a Form 4 filing with the Securities and Exchange Commission, the shares were bought at a price of $3.23 per share, with the total transaction amounting to $56,734. The purchase comes as the stock trades near $3.31, having declined about 36% over the past six months. InvestingPro data shows the company maintains a healthy balance sheet with more cash than debt and a current ratio of 1.43.
The transaction, which took place on July 18, 2025, increased Silvercape Investments’ direct ownership in Petmed Express to 2,360,496 shares. According to InvestingPro’s Fair Value analysis, the stock appears undervalued at current levels. Discover 12 additional exclusive InvestingPro Tips and comprehensive analysis in the Pro Research Report, available with an InvestingPro subscription.
In other recent news, PetMed Express , Inc. has announced a delay in filing its annual report for the fiscal year ended March 31, 2025, due to an ongoing investigation by its Audit Committee. This investigation follows anonymous whistleblower reports concerning revenue recognition practices and a customer coupon promotion. The company has engaged external legal counsel and advisors to look into these matters. Preliminary fourth-quarter results show a decline in sales to between $51.1 million and $53.1 million, compared to $66.5 million in the same period last year. PetMeds also expects a quarterly net loss between $9.9 million and $10.4 million. For the full fiscal year, sales are projected to be between $231.6 million and $233.6 million, down from $281.1 million the previous year. In a strategic move, PetMeds has partnered with virtual veterinary care provider Dutch to enhance accessibility to pet healthcare. This collaboration aims to address a critical vet shortage, allowing pet owners to access virtual care and secure prescriptions for PetMeds’ medications. The company is working diligently to complete its financial statements and regain compliance with Nasdaq requirements.
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