Insider Buying: Wag! Group Co. (NASDAQ:PET) Major Shareholder Purchases $126,900.00 in Stock

Wag! Group Co. (NASDAQ:PET) major shareholder John P. Szabo, Jr. purchased 90,000 shares of the company’s stock in a transaction dated Wednesday, July 17th. The shares were acquired at an average price of $1.41 per share, for a total transaction of $126,900.00. Following the purchase, the insider now directly owns 660,000 shares of the company’s stock, valued at approximately $930,600. The acquisition was disclosed in a legal filing with the Securities & Exchange Commission, which is accessible through this hyperlink. Major shareholders that own more than 10% of a company’s stock are required to disclose their transactions with the SEC.

Wag! Group Price Performance

Shares of PET opened at $1.24 on Monday. The company has a market capitalization of $50.37 million, a P/E ratio of -3.44 and a beta of 1.76. The business’s 50-day moving average is $1.60 and its two-hundred day moving average is $1.88. The company has a debt-to-equity ratio of 15.59, a quick ratio of 1.33 and a current ratio of 1.33. Wag! Group Co. has a fifty-two week low of $1.23 and a fifty-two week high of $2.65.

Wag! Group (NASDAQ:PET) last announced its quarterly earnings results on Thursday, May 9th. The company reported ($0.11) earnings per share for the quarter, beating the consensus estimate of ($0.14) by $0.03. The company had revenue of $23.22 million during the quarter, compared to analysts’ expectations of $22.60 million. Wag! Group had a negative return on equity of 553.34% and a negative net margin of 15.92%. Research analysts predict that Wag! Group Co. will post -0.26 earnings per share for the current year.

Wall Street Analysts Forecast Growth

A number of analysts have commented on PET shares. Chardan Capital reaffirmed a “buy” rating and set a $8.00 price target on shares of Wag! Group in a research report on Friday, May 10th. Roth Mkm dropped their target price on Wag! Group from $4.00 to $3.50 and set a “buy” rating on the stock in a research report on Tuesday, July 16th. DA Davidson cut their price target on shares of Wag! Group from $6.00 to $3.50 and set a “buy” rating on the stock in a report on Thursday, May 16th. Finally, Lake Street Capital started coverage on shares of Wag! Group in a research note on Thursday, May 30th. They set a “buy” rating and a $4.00 price objective for the company.

Hedge Funds Weigh In On Wag! Group

An institutional investor recently bought a new position in Wag! Group stock. Cerity Partners LLC purchased a new position in shares of Wag! Group Co. (NASDAQ:PET) during the fourth quarter, according to the company in its most recent filing with the Securities & Exchange Commission. The institutional investor purchased 23,000 shares of the company’s stock, valued at approximately $40,000. Cerity Partners LLC owned approximately 0.06% of Wag! Group at the end of the most recent quarter. Institutional investors and hedge funds own 86.16% of the company’s stock.

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.