Wag! Group (NASDAQ:PET) Cut to Hold at Lake Street Capital

Lake Street Capital lowered shares of Wag! Group (NASDAQ:PET) from a strong-buy rating to a hold rating in a report published on Wednesday,Zacks.com reports.

A number of other research firms have also weighed in on PET. Roth Mkm decreased their target price on shares of Wag! Group from $4.00 to $3.50 and set a “buy” rating on the stock in a research note on Tuesday, July 16th. Oppenheimer decreased their target price on shares of Wag! Group from $6.00 to $3.00 and set an “outperform” rating on the stock in a research note on Friday, August 9th. Finally, Craig Hallum lowered shares of Wag! Group from a “buy” rating to a “hold” rating in a research note on Thursday. Two analysts have rated the stock with a hold rating and four have given a buy rating to the company’s stock. According to data from MarketBeat, the company currently has an average rating of “Moderate Buy” and an average target price of $4.40.

Wag! Group Stock Down 3.8 %

Shares of NASDAQ:PET traded down $0.01 during trading on Wednesday, reaching $0.17. 2,434,150 shares of the company’s stock traded hands, compared to its average volume of 199,730. Wag! Group has a fifty-two week low of $0.14 and a fifty-two week high of $2.47. The firm has a market cap of $8.54 million, a PE ratio of -0.45 and a beta of 1.79. The company has a 50-day simple moving average of $0.76 and a 200-day simple moving average of $1.20.

Insider Activity

In other news, CTO Maziar Arjomand sold 51,714 shares of the business’s stock in a transaction dated Monday, September 9th. The shares were sold at an average price of $0.72, for a total transaction of $37,234.08. Following the transaction, the chief technology officer now directly owns 1,194,098 shares in the company, valued at $859,750.56. The trade was a 4.15 % decrease in their ownership of the stock. The sale was disclosed in a legal filing with the SEC, which is available through this link. Also, major shareholder John P. Szabo, Jr. bought 50,000 shares of the stock in a transaction on Monday, September 23rd. The shares were bought at an average price of $0.93 per share, for a total transaction 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. This trade represents a 1.56 % increase in their position. The disclosure for this purchase can be found here. Over the last three months, insiders sold 251,727 shares of company stock valued at $188,048. Insiders own 23.20% of the company’s stock.

Hedge Funds Weigh In On Wag! Group

A hedge fund recently raised its stake in Wag! Group stock. Whetstone Capital Advisors LLC lifted its holdings in Wag! Group Co. (NASDAQ:PET) by 156.1% in the 3rd quarter, according to its most recent Form 13F filing with the Securities & Exchange Commission. The institutional investor owned 2,222,413 shares of the company’s stock after acquiring an additional 1,354,558 shares during the period. Wag! Group makes up 0.9% of Whetstone Capital Advisors LLC’s portfolio, making the stock its 25th biggest position. Whetstone Capital Advisors LLC owned about 4.55% of Wag! Group worth $1,911,000 as of its most recent SEC filing. Institutional investors 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.