John P. Szabo, Jr. Acquires 50,000 Shares of Wag! Group Co. (NASDAQ:PET) Stock

Wag! Group Co. (NASDAQ:PET) major shareholder John P. Szabo, Jr. purchased 50,000 shares of the company’s stock in a transaction dated Monday, September 23rd. The stock was bought at an average price of $0.93 per share, with a total value of $46,500.00. Following the completion of the transaction, the insider now directly owns 3,250,000 shares of the company’s stock, valued at $3,022,500. The transaction was disclosed in a document filed with the Securities & Exchange Commission, which is available at this link. Major shareholders that own more than 10% of a company’s shares are required to disclose their transactions with the SEC.

Wag! Group Stock Performance

NASDAQ:PET opened at $0.90 on Wednesday. The stock has a market capitalization of $36.55 million, a P/E ratio of -2.50 and a beta of 1.75. 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 Co. has a fifty-two week low of $0.66 and a fifty-two week high of $2.47. The company has a 50 day moving average price of $0.96 and a 200 day moving average price of $1.54.

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

Wall Street Analyst Weigh In

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

Institutional Trading of Wag! Group

A hedge fund recently bought a new stake in Wag! Group stock. Cowen AND Company LLC acquired a new stake in Wag! Group Co. (NASDAQ:PET) during the second quarter, according to its most recent Form 13F filing with the SEC. The institutional investor acquired 45,000 shares of the company’s stock, valued at approximately $72,000. Cowen AND Company LLC owned about 0.11% of Wag! Group at the end of the most recent quarter. 86.16% of the stock is currently owned by institutional investors.

Wag! Group Company Profile

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.