Petco Health and Wellness Company (NASDAQ:WOOF) rallied in early trading on Wednesday after CEO Joel Anderson picked up more shares in the pet retailer.

In an SEC filing, Petco (NASDAQ:WOOF) disclosed that Anderson purchased 1,586,088 shares in a range of $2.91 to $3.03 for a total amount of more than $4.7 million. Anderson assumed the role of CEO on July 29, 2024, and also serves on Petco's (WOOF) board of directors. Before joining Petco (WOOF), Anderson served as CEO of Five Below (FIVE), where he oversaw significant growth, expanding the company from 366 stores to over 1,500 locations and increasing revenue from $500 million to over $3.5 billion.

With its Q4 earnings report, Petco (WOOF) reported revenue fell 7.3% year-over-year to $1.6 billion, while comparable sales were up 0.5%. Adjusted EBITDA was $96.1 million vs. $105.3 million a year ago. EPS was reported at -$0.05 vs. -$0.02 consensus and -$0.08 a year ago. 

Shares of Petco (WOOF) were up 6.1% in premarket action to $3.14 vs. the 52-week range of $1.41 to $6.29. Short interest on WOOF stands at 11.8% of the total float.