Wag! Group (NASDAQ:PET) Posts Quarterly Earnings Results, Beats Expectations By $0.03 EPS

Wag! Group (NASDAQ:PETGet Free Report) released its earnings results on Thursday. The company reported ($0.11) earnings per share for the quarter, beating the consensus estimate of ($0.14) by $0.03, reports. Wag! Group had a negative net margin of 15.92% and a negative return on equity of 366.60%. The business had revenue of $23.22 million during the quarter, compared to analysts’ expectations of $22.60 million. Wag! Group updated its FY 2024 guidance to EPS.

Wag! Group Trading Down 1.8 %

PET traded down $0.04 during trading on Friday, reaching $2.39. 65,491 shares of the company’s stock were exchanged, compared to its average volume of 64,664. The company’s fifty day moving average price is $2.12 and its 200-day moving average price is $1.93. The company has a debt-to-equity ratio of 15.59, a quick ratio of 1.73 and a current ratio of 1.73. Wag! Group has a fifty-two week low of $1.59 and a fifty-two week high of $2.65. The firm has a market capitalization of $96.41 million, a PE ratio of -6.64 and a beta of 2.01.

Insiders Place Their Bets

In other Wag! Group news, COO Dylan Allread sold 35,855 shares of Wag! Group stock in a transaction on Wednesday, April 17th. The shares were sold at an average price of $2.12, for a total transaction of $76,012.60. Following the completion of the sale, the chief operating officer now owns 439,555 shares of the company’s stock, valued at approximately $931,856.60. The transaction was disclosed in a document filed with the Securities & Exchange Commission, which is available through this hyperlink. In other news, COO Dylan Allread sold 35,855 shares of Wag! Group stock in a transaction on Wednesday, April 17th. The shares were sold at an average price of $2.12, for a total transaction of $76,012.60. Following the transaction, the chief operating officer now directly owns 439,555 shares of the company’s stock, valued at $931,856.60. The sale was disclosed in a legal filing with the SEC, which is available at the SEC website. Also, insider Adam Storm sold 48,221 shares of Wag! Group stock in a transaction on Thursday, February 15th. The stock was sold at an average price of $2.20, for a total transaction of $106,086.20. Following the transaction, the insider now directly owns 1,120,916 shares in the company, valued at $2,466,015.20. The disclosure for this sale can be found here. In the last 90 days, insiders sold 307,173 shares of company stock valued at $648,769. Company insiders own 23.20% of the company’s stock.

Institutional Investors Weigh In On Wag! Group

Several institutional investors have recently added to or reduced their stakes in the stock. StepStone Group LP acquired a new position in Wag! Group in the 3rd quarter valued at about $225,000. SVB Wealth LLC raised its holdings in Wag! Group by 100.0% in the 4th quarter. SVB Wealth LLC now owns 140,000 shares of the company’s stock valued at $245,000 after acquiring an additional 70,000 shares during the period. ATW Spac Management LLC bought a new position in Wag! Group in the 3rd quarter valued at about $117,000. Finally, Cerity Partners LLC bought a new position in Wag! Group in the 4th quarter valued at about $40,000. 86.16% of the stock is owned by institutional investors.

Analyst Ratings Changes

Separately, Chardan Capital restated a “buy” rating and set a $8.00 price target on shares of Wag! Group in a research note on Friday.

Read Our Latest Research Report on PET

About Wag! Group

(Get Free Report)

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.

Further Reading

Earnings History for Wag! Group (NASDAQ:PET)

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