Acadian Asset Management LLC Has $848,000 Stock Position in PetIQ, Inc. (NASDAQ:PETQ)

Acadian Asset Management LLC cut its stake in PetIQ, Inc. (NASDAQ:PETQ) by 74.7% in the second quarter, according to the company in its most recent filing with the Securities and Exchange Commission. The institutional investor owned 38,476 shares of the company’s stock after selling 113,469 shares during the period. Acadian Asset Management LLC owned about 0.13% of PetIQ worth $848,000 at the end of the most recent reporting period.

Other hedge funds and other institutional investors have also modified their holdings of the company. CWM LLC grew its position in 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 acquiring an additional 579 shares during the period. First Horizon Advisors Inc. bought a new stake in shares of PetIQ in the 2nd quarter worth about $36,000. ICA Group Wealth Management LLC acquired a new stake in shares of PetIQ during the 4th quarter worth about $35,000. FinTrust Capital Advisors LLC lifted its holdings in PetIQ by 50.2% during the 1st 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 PetIQ by 107.4% in the first quarter. DekaBank Deutsche Girozentrale now owns 5,221 shares of the company’s stock valued at $91,000 after buying an additional 2,704 shares in the last quarter. Institutional investors own 94.99% of the company’s stock.

PetIQ Price Performance

Shares of PETQ stock opened at $30.73 on Tuesday. PetIQ, Inc. has a 1 year low of $15.09 and a 1 year high of $30.84. The company has a current ratio of 2.58, a quick ratio of 1.68 and a debt-to-equity ratio of 1.68. The firm’s 50 day moving average is $26.80 and its 200-day moving average is $21.70. The firm has a market capitalization of $918.52 million, a price-to-earnings ratio of 139.69 and a beta of 1.73.

PetIQ (NASDAQ:PETQ) last announced its quarterly earnings data on Wednesday, August 7th. The company reported $0.70 EPS for the quarter, beating analysts’ consensus estimates of $0.50 by $0.20. The firm had revenue of $328.90 million for the quarter, compared to analyst estimates of $330.14 million. PetIQ had a return on equity of 18.75% and a net margin of 1.20%. The business’s quarterly revenue was up 4.6% compared to the same quarter last year. During the same period last year, the company earned $0.37 EPS. Sell-side analysts forecast that PetIQ, Inc. will post 1.12 EPS for the current fiscal year.

Wall Street Analysts Forecast Growth

Several analysts have recently weighed in on PETQ shares. 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 report on Thursday, August 8th. William Blair cut PetIQ from a “strong-buy” rating to a “hold” rating in a report on Wednesday, August 7th. Two analysts have rated the stock with a hold rating and two have issued a buy rating to the stock. According to data from MarketBeat, the stock presently has an average rating of “Moderate Buy” and an average target price 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.