Divisadero Street Capital Management LP Buys Shares of 55,266 PetIQ, Inc. (NASDAQ:PETQ)

Divisadero Street Capital Management LP acquired a new stake in shares of PetIQ, Inc. (NASDAQ:PETQ) during the second quarter, according to its most recent filing with the Securities & Exchange Commission. The firm acquired 55,266 shares of the company’s stock, valued at approximately $1,219,000. Divisadero Street Capital Management LP owned approximately 0.19% of PetIQ as of its most recent filing with the Securities & Exchange Commission.

Other institutional investors also recently bought and sold shares of the company. Goldman Sachs Group Inc. boosted its position in PetIQ by 11.7% during the 4th quarter. Goldman Sachs Group Inc. now owns 1,036,292 shares of the company’s stock valued at $20,467,000 after acquiring an additional 108,870 shares in the last quarter. ProShare Advisors LLC boosted its position in PetIQ by 119.6% during the first quarter. ProShare Advisors LLC now owns 173,453 shares of the company’s stock valued at $3,171,000 after purchasing an additional 94,453 shares in the last quarter. Swiss National Bank purchased a new position in PetIQ in the fourth quarter valued at about $1,080,000. Los Angeles Capital Management LLC raised its holdings in PetIQ by 196.6% in the first quarter. Los Angeles Capital Management LLC now owns 129,632 shares of the company’s stock worth $2,370,000 after purchasing an additional 85,920 shares in the last quarter. Finally, Allspring Global Investments Holdings LLC lifted its position in shares of PetIQ by 105.4% during the first quarter. Allspring Global Investments Holdings LLC now owns 140,660 shares of the company’s stock valued at $2,571,000 after buying an additional 72,187 shares during the last quarter. 94.99% of the stock is owned by hedge funds and other institutional investors.

PetIQ Stock Performance

PETQ opened at $30.76 on Friday. The company has a market cap of $915.17 million, a P/E ratio of 139.91 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. The firm’s 50-day moving average price is $27.15 and its 200-day moving average price is $21.86. PetIQ, Inc. has a 52-week low of $15.09 and a 52-week high of $30.84.

PetIQ (NASDAQ:PETQ) last issued its quarterly 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. The business had revenue of $328.90 million for the quarter, compared to analyst estimates of $330.14 million. PetIQ had a net margin of 1.20% and a return on equity of 18.75%. PetIQ’s revenue for the quarter was up 4.6% compared to the same quarter last year. During the same quarter in the prior year, the business posted $0.37 EPS. As a group, equities analysts anticipate that PetIQ, Inc. will post 1.12 EPS for the current fiscal year.

Wall Street Analyst Weigh In

PETQ has been the subject of a number of analyst reports. Truist Financial cut shares of PetIQ from a “buy” rating to a “hold” rating and increased their target price for the company from $30.00 to $31.00 in a research report on Thursday, August 8th. William Blair lowered 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 given a buy rating to the company. According to data from MarketBeat, the stock presently has a consensus rating of “Moderate Buy” and an average price target of $29.67.

About PetIQ

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.