Algert Global LLC Sells 3,347 Shares of PetIQ, Inc. (NASDAQ:PETQ)

Algert Global LLC lowered its holdings in shares of PetIQ, Inc. (NASDAQ:PETQ) by 10.2% during the second quarter, according to the company in its most recent Form 13F filing with the Securities and Exchange Commission (SEC). The firm owned 29,534 shares of the company’s stock after selling 3,347 shares during the quarter. Algert Global LLC owned 0.10% of PetIQ worth $652,000 at the end of the most recent quarter.

Other institutional investors have also recently bought and sold shares of the company. Vanguard Group Inc. lifted its position in PetIQ by 4.9% during the 1st quarter. Vanguard Group Inc. now owns 2,252,842 shares of the company’s stock worth $41,182,000 after buying an additional 105,083 shares in the last quarter. Dimensional Fund Advisors LP boosted its stake in 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 buying an additional 43,268 shares in the last quarter. Boston Partners increased its position in PetIQ by 6.8% during the 1st quarter. Boston Partners now owns 1,067,677 shares of the company’s stock worth $19,124,000 after purchasing an additional 67,797 shares in the last quarter. Goldman Sachs Group Inc. increased its holdings in shares of PetIQ by 11.7% during the fourth quarter. Goldman Sachs Group Inc. now owns 1,036,292 shares of the company’s stock worth $20,467,000 after buying an additional 108,870 shares in the last quarter. Finally, Nepsis Inc. raised its position in PetIQ by 0.4% in the second quarter. Nepsis Inc. now owns 901,425 shares of the company’s stock valued at $19,885,000 after purchasing an additional 3,256 shares during the last quarter. Institutional investors own 94.99% of the company’s stock.

Wall Street Analysts Forecast Growth

Several research analysts recently issued reports on PETQ shares. Truist Financial lowered PetIQ from a “buy” rating to a “hold” rating and raised their target price for the stock from $30.00 to $31.00 in a research report on Thursday, August 8th. William Blair downgraded shares of PetIQ from a “strong-buy” rating to a “hold” rating in a research note on Wednesday, August 7th. Two equities research analysts have rated the stock with a hold rating and two have assigned a buy rating to the company. According to MarketBeat, the stock currently has an average rating of “Moderate Buy” and a consensus price target of $29.67.

PetIQ Stock Performance

Shares of PETQ stock opened at $30.87 on Friday. The firm has a 50 day moving average of $29.30 and a 200-day moving average of $23.03. The company has a market cap of $918.44 million, a price-to-earnings ratio of 140.32 and a beta of 1.73. 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, Inc. has a 52 week low of $15.09 and a 52 week high of $30.89.

PetIQ (NASDAQ:PETQ) last posted its quarterly earnings results on Wednesday, August 7th. The company reported $0.70 EPS for the quarter, topping analysts’ consensus estimates of $0.50 by $0.20. The business had revenue of $328.90 million during the quarter, compared to analysts’ expectations of $330.14 million. PetIQ had a net margin of 1.20% and a return on equity of 18.75%. The business’s quarterly revenue was up 4.6% on a year-over-year basis. During the same period last year, the company posted $0.37 earnings per share. On average, equities analysts forecast that PetIQ, Inc. will post 1.15 earnings per share for the current year.

PetIQ 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.