Renaissance Technologies LLC Has $10.68 Million Holdings in PetIQ, Inc. (NASDAQ:PETQ)

Renaissance Technologies LLC grew its position in PetIQ, Inc. (NASDAQ:PETQ) by 13.1% during the 2nd quarter, according to its most recent Form 13F filing with the Securities and Exchange Commission. The fund owned 484,144 shares of the company’s stock after purchasing an additional 56,068 shares during the quarter. Renaissance Technologies LLC owned about 1.63% of PetIQ worth $10,680,000 as of its most recent SEC filing.

Several other institutional investors and hedge funds also recently made changes to their positions in the company. Dimensional Fund Advisors LP grew its position in shares of PetIQ by 3.6% in the second quarter. Dimensional Fund Advisors LP now owns 1,236,632 shares of the company’s stock valued at $27,281,000 after purchasing an additional 43,268 shares during the last quarter. Envestnet Asset Management Inc. grew its position in shares of PetIQ by 370.9% in the second quarter. Envestnet Asset Management Inc. now owns 117,102 shares of the company’s stock valued at $2,581,000 after purchasing an additional 92,234 shares during the last quarter. ClariVest Asset Management LLC grew its position in shares of PetIQ by 1.3% in the second quarter. ClariVest Asset Management LLC now owns 94,603 shares of the company’s stock valued at $2,087,000 after purchasing an additional 1,209 shares during the last quarter. Ashton Thomas Private Wealth LLC acquired a new position in shares of PetIQ in the second quarter valued at approximately $98,000. Finally, Wakefield Asset Management LLLP bought a new stake in shares of PetIQ in the second quarter valued at approximately $991,000. Institutional investors and hedge funds own 94.99% of the company’s stock.

PetIQ Stock Performance

NASDAQ PETQ opened at $30.79 on Tuesday. The company has a market capitalization of $916.06 million, a price-to-earnings ratio of 139.95 and a beta of 1.73. PetIQ, Inc. has a twelve month low of $15.09 and a twelve month high of $30.84. The stock has a fifty day simple moving average of $27.67 and a 200 day simple moving average of $22.20. The company has a quick ratio of 1.68, a current ratio of 2.58 and a debt-to-equity ratio of 1.68.

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

Analyst Upgrades and Downgrades

PETQ has been the subject of several recent research reports. William Blair cut PetIQ from a “strong-buy” rating to a “hold” rating in a research note on Wednesday, August 7th. Truist Financial cut PetIQ from a “buy” rating to a “hold” rating and boosted their price target for the company from $30.00 to $31.00 in a research note on Thursday, August 8th. Two equities research analysts have rated the stock with a hold rating and two have issued a buy rating to the company’s stock. Based on data from MarketBeat.com, the stock 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.