Insider Buying: Wag! Group Co. (NASDAQ:PET) Major Shareholder Purchases 61,519 Shares of Stock

Wag! Group Co. (NASDAQ:PET) major shareholder John P. Szabo, Jr. bought 61,519 shares of the business’s stock in a transaction on Thursday, September 19th. The shares were bought at an average cost of $0.82 per share, for a total transaction of $50,445.58. Following the completion of the acquisition, the insider now directly owns 3,061,519 shares in the company, valued at approximately $2,510,445.58. The purchase was disclosed in a filing with the Securities & Exchange Commission, which can be accessed through this link. Large shareholders that own more than 10% of a company’s shares are required to disclose their sales and purchases with the SEC.

Wag! Group Trading Down 3.2 %

Shares of PET stock opened at $0.90 on Wednesday. The company has a market cap of $36.55 million, a P/E ratio of -2.50 and a beta of 1.75. Wag! Group Co. has a fifty-two week low of $0.66 and a fifty-two week high of $2.47. The stock has a 50 day simple moving average of $0.96 and a two-hundred day simple moving average of $1.54. The company has a debt-to-equity ratio of 15.59, a quick ratio of 1.44 and a current ratio of 1.44.

Wag! Group (NASDAQ:PET) last released its earnings results on Wednesday, August 7th. The company reported ($0.06) earnings per share (EPS) for the quarter, meeting analysts’ consensus estimates of ($0.06). The company had revenue of $18.65 million for the quarter, compared to the consensus estimate of $18.60 million. Wag! Group had a negative net margin of 14.24% and a negative return on equity of 1,880.60%. Research analysts forecast that Wag! Group Co. will post -0.2 earnings per share for the current year.

Analyst Upgrades and Downgrades

A number of brokerages have recently issued reports on PET. Roth Mkm lowered their price objective on Wag! Group from $4.00 to $3.50 and set a “buy” rating for the company in a research report on Tuesday, July 16th. Lake Street Capital initiated coverage on shares of Wag! Group in a research report on Thursday, May 30th. They issued a “buy” rating and a $4.00 price target on the stock. Finally, Oppenheimer decreased their price objective on shares of Wag! Group from $6.00 to $3.00 and set an “outperform” rating for the company in a research report on Friday, August 9th. Five analysts have rated the stock with a buy rating, According to data from MarketBeat.com, the company currently has a consensus rating of “Buy” and an average price target of $4.40.

Hedge Funds Weigh In On Wag! Group

A hedge fund recently bought a new stake in Wag! Group stock. Cowen AND Company LLC purchased a new position in shares of Wag! Group Co. (NASDAQ:PET) during the second quarter, according to its most recent disclosure with the SEC. The institutional investor purchased 45,000 shares of the company’s stock, valued at approximately $72,000. Cowen AND Company LLC owned 0.11% of Wag! Group as of its most recent filing with the SEC. 86.16% of the stock is currently owned by hedge funds and other institutional investors.

About Wag! Group

Wag! Group Co develops and supports a proprietary marketplace technology platform available as a website and mobile app that enables independent pet caregivers to connect with pet parents. Its platform allows pet parents, who require specific pet care services, such as dog walking, pet sitting and boarding, advice from licensed pet experts, home visits, training, and pet insurance comparison tools.