SCHEDULE 13G/A: Hotchkis and Wiley Capital Management Discloses 4.7% Stake in PetMed Express

Hotchkis and Wiley Capital Management, LLC has filed an amended Schedule 13G, reporting a 4.7% beneficial ownership stake in PetMed Express Inc. as of December 31, 2024.

Summary

• Hotchkis and Wiley Capital Management, LLC, an investment adviser based in Delaware, has filed an Amendment No. 1 to Schedule 13G regarding its beneficial ownership in PetMed Express Inc.
• As of December 31, 2024, Hotchkis and Wiley beneficially owned an aggregate of 974,103 shares of PetMed Express Inc. common stock.
• This ownership represents 4.7% of the total outstanding common stock of PetMed Express Inc.
• The firm holds sole voting power over 827,903 shares and sole dispositive power over all 974,103 shares.
• The filing certifies that the securities were acquired and are held in the ordinary course of business and not for the purpose of changing or influencing the control of PetMed Express Inc.
• A note clarifies that certain clients of Hotchkis and Wiley Capital Management, LLC have retained voting power over some of the beneficially owned shares, which explains the difference between sole voting power and sole dispositive power.

Sentiment

Score: 5

Explanation: The document is a factual, regulatory disclosure of beneficial ownership and does not contain qualitative information that would suggest a positive or negative sentiment regarding the issuer's performance or outlook.

Positives

• The disclosure indicates continued institutional interest in PetMed Express Inc. by Hotchkis and Wiley Capital Management, LLC.
• The investment is stated to be for ordinary course of business, not for control, suggesting a passive, long-term investment perspective.

Future Outlook

This Schedule 13G filing is a disclosure of past beneficial ownership as of December 31, 2024, and does not contain forward-looking statements or guidance regarding PetMed Express Inc.'s future performance or Hotchkis and Wiley Capital Management, LLC's future investment intentions beyond the certification of passive holding.

Management Comments

• The filing includes a certification by Hotchkis and Wiley Capital Management, LLC that 'the securities referred to above were acquired and are held in the ordinary course of business and were not acquired and are not held for the purpose of or with the effect of changing or influencing the control of the issuer of the securities and were not acquired and are not held in connection with or as a participant in any transaction having that purpose or effect, other than activities solely in connection with a nomination under ?? 240.14a-11.'

Industry Context

This filing reflects a standard disclosure by an institutional investment adviser, Hotchkis and Wiley Capital Management, LLC, regarding its passive ownership stake in a publicly traded company, PetMed Express Inc. Such disclosures are common in the financial industry, providing transparency on significant holdings by large investors and indicating their investment strategies, typically long-term and non-activist in nature when filed under Rule 13d-1(b).

Comparison to Industry Standards

• As a Schedule 13G filing, this document primarily serves as a regulatory disclosure of beneficial ownership and does not provide financial results or operational metrics for comparison. Therefore, a direct comparison to industry-specific financial benchmarks or competitor performance is not applicable based solely on the content of this filing.

Stakeholder Impact

• Shareholders: Provides transparency regarding a significant institutional investor's stake, potentially signaling confidence or a long-term holding strategy by a respected firm.
• Company Management: Awareness of a notable passive institutional shareholder.

Key Dates

Keywords

PetMed Express Inc., Hotchkis and Wiley Capital Management, Schedule 13G, Beneficial Ownership, Common Stock, Institutional Investment, Investment Adviser, SEC Filing, PMED