Wakefield Asset Management LLLP Invests $991,000 in PetIQ, Inc. (NASDAQ:PETQ)

Wakefield Asset Management LLLP bought a new stake in shares of PetIQ, Inc. (NASDAQ:PETQ) in the 2nd quarter, according to its most recent Form 13F filing with the Securities & Exchange Commission. The institutional investor bought 44,943 shares of the company’s stock, valued at approximately $991,000.

A number of other large investors have also recently added to or reduced their stakes in PETQ. CWM LLC increased its holdings in shares of PetIQ by 86.2% in the second quarter. CWM LLC now owns 1,251 shares of the company’s stock valued at $28,000 after buying an additional 579 shares in the last quarter. ICA Group Wealth Management LLC acquired a new position in shares of PetIQ in the 4th quarter worth $35,000. First Horizon Advisors Inc. acquired a new stake in shares of PetIQ during the second quarter worth $36,000. FinTrust Capital Advisors LLC lifted its holdings in shares of PetIQ by 50.2% during the first quarter. FinTrust Capital Advisors LLC now owns 2,618 shares of the company’s stock valued at $48,000 after purchasing an additional 875 shares during the last quarter. Finally, DekaBank Deutsche Girozentrale boosted its position in shares of PetIQ by 107.4% in the 1st quarter. DekaBank Deutsche Girozentrale now owns 5,221 shares of the company’s stock valued at $91,000 after purchasing an additional 2,704 shares during the period. 94.99% of the stock is currently owned by institutional investors.

Insider Activity at PetIQ

In other PetIQ news, Director Scott Huff sold 12,117 shares of the company’s stock in a transaction dated Wednesday, June 12th. The stock was sold at an average price of $22.19, for a total value of $268,876.23. The sale was disclosed in a document filed with the SEC, which is available through this hyperlink. Insiders own 9.62% of the company’s stock.

PetIQ Stock Performance

PETQ stock opened at $30.55 on Friday. The firm has a 50 day simple moving average of $25.84 and a 200 day simple moving average of $21.14. PetIQ, Inc. has a 52 week low of $15.09 and a 52 week high of $30.68. The stock has a market cap of $908.92 million, a P/E ratio of 138.86 and a beta of 1.73. The company has a debt-to-equity ratio of 1.68, a quick ratio of 1.68 and a current ratio of 2.58.

PetIQ (NASDAQ:PETQ) last issued its earnings results on Wednesday, August 7th. The company reported $0.70 earnings per share (EPS) for the quarter, beating analysts’ consensus estimates of $0.50 by $0.20. PetIQ had a net margin of 1.20% and a return on equity of 18.75%. The company had revenue of $328.90 million during the quarter, compared to analyst estimates of $330.14 million. During the same quarter last year, the business posted $0.37 EPS. The company’s revenue for the quarter was up 4.6% on a year-over-year basis. Research analysts anticipate that PetIQ, Inc. will post 1.12 earnings per share for the current fiscal year.

Wall Street Analyst Weigh In

PETQ has been the topic of several recent analyst reports. Benchmark restated a “buy” rating and set a $30.00 price objective on shares of PetIQ in a report on Friday, May 10th. William Blair downgraded shares of PetIQ from a “strong-buy” rating to a “hold” rating in a research report on Wednesday, August 7th. Finally, Truist Financial lowered shares of PetIQ from a “buy” rating to a “hold” rating and raised their price objective for the stock from $30.00 to $31.00 in a research note on Thursday, August 8th. Two investment analysts have rated the stock with a hold rating and two have issued a buy rating to the company’s stock. According to data from MarketBeat.com, the stock currently has a consensus rating of “Moderate Buy” and an average price target of $29.67.

PetIQ Company Profile

PetIQ, Inc operates as a pet medication and wellness company in the United States and internationally. It operates in two segments, Products and Services. The company offers Rx pet medications, which sells flea and tick control, heartworm preventatives, arthritis, thyroid, diabetes and pain treatments, antibiotics, and other specialty medications; and develops and manufactures its own proprietary value-branded products, as well as third-party branded products for dogs and cats.