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Silvercape Investments Ltd, a ten percent owner of Petmed Express Inc (NASDAQ:PETS), has recently increased its stake in the company. According to a Form 4 filing with the Securities and Exchange Commission, Silvercape Investments purchased 2,817 shares of common stock on July 2, 2025. The insider buying comes as InvestingPro analysis shows the stock trading below its Fair Value, with the company maintaining a strong balance sheet and more cash than debt.
The shares were bought at a price of $3.22, with the total transaction amounting to $9,070. Following this transaction, Silvercape Investments Ltd. directly owns 2,311,230 shares of Petmed Express Inc. The purchase comes amid a challenging period for the stock, which has declined nearly 30% over the past six months. For deeper insights into insider transactions and comprehensive valuation metrics, investors can access the detailed Pro Research Report available on InvestingPro.
In other recent news, PetMed Express , Inc. has reported a delay in filing its annual report for the fiscal year ending March 31, 2025, due to an ongoing investigation by its Audit Committee. This investigation follows whistleblower reports concerning revenue recognition practices and a customer coupon promotion. Despite the delay, PetMeds has released preliminary fourth-quarter results, indicating a decline in sales to between $51.1 million and $53.1 million, compared to $66.5 million in the same period last year. The company also projects a quarterly net loss between $9.9 million and $10.4 million. For the full fiscal year, PetMeds expects sales to be between $231.6 million and $233.6 million, with an annual net loss estimated between $4.5 million and $5.0 million. Additionally, PetMeds has received a non-compliance notice from Nasdaq for failing to timely file its annual report, though this does not immediately affect the stock’s listing. In a strategic move, PetMeds has partnered with Dutch, a virtual veterinary care provider, to enhance pet healthcare accessibility. This partnership aims to integrate Dutch’s telemedicine services with PetMeds’ medication offerings, addressing a critical vet shortage impacting millions of Americans.
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