Assenagon Asset Management S.A. Takes Position in PetIQ, Inc. (NASDAQ:PETQ)

Assenagon Asset Management S.A. purchased a new stake in shares of PetIQ, Inc. (NASDAQ:PETQ) in the 2nd quarter, Holdings Channel reports. The fund purchased 143,449 shares of the company’s stock, valued at approximately $3,164,000.

Several other hedge funds and other institutional investors have also recently made changes to their positions in PETQ. CWM LLC boosted its stake in PetIQ by 86.2% in the 2nd quarter. CWM LLC now owns 1,251 shares of the company’s stock worth $28,000 after purchasing an additional 579 shares during the period. ICA Group Wealth Management LLC bought a new position in PetIQ in the 4th quarter worth approximately $35,000. FinTrust Capital Advisors LLC boosted its stake in PetIQ by 50.2% in the 1st quarter. FinTrust Capital Advisors LLC now owns 2,618 shares of the company’s stock worth $48,000 after purchasing an additional 875 shares during the period. AJOVista LLC bought a new position in PetIQ in the 4th quarter worth approximately $65,000. Finally, DekaBank Deutsche Girozentrale boosted its stake in PetIQ by 107.4% in the 1st quarter. DekaBank Deutsche Girozentrale now owns 5,221 shares of the company’s stock worth $91,000 after purchasing an additional 2,704 shares during the period. Hedge funds and other institutional investors own 94.99% of the company’s stock.

PetIQ Stock Down 0.2 %

NASDAQ PETQ opened at $30.53 on Tuesday. The company has a debt-to-equity ratio of 1.68, a quick ratio of 1.68 and a current ratio of 2.58. The company has a market capitalization of $908.27 million, a P/E ratio of 138.78 and a beta of 1.71. PetIQ, Inc. has a one year low of $15.09 and a one year high of $30.68. The stock has a 50 day moving average price of $23.44 and a 200-day moving average price of $19.96.

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, topping analysts’ consensus estimates of $0.50 by $0.20. The company had revenue of $328.90 million during the quarter, compared to the consensus estimate of $330.14 million. PetIQ had a return on equity of 18.75% and a net margin of 1.20%. PetIQ’s revenue was up 4.6% on a year-over-year basis. During the same period last year, the company earned $0.37 earnings per share. As a group, equities analysts predict that PetIQ, Inc. will post 1.12 EPS for the current fiscal year.

Insider Buying and Selling

In related news, Director Scott Huff sold 12,117 shares of the firm’s stock in a transaction on 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 filing with the Securities & Exchange Commission, which is available through this link. 9.62% of the stock is owned by corporate insiders.

Wall Street Analyst Weigh In

Several research analysts have weighed in on PETQ shares. Truist Financial downgraded PetIQ from a “buy” rating to a “hold” rating and upped their price target for the stock from $30.00 to $31.00 in a research note on Thursday, August 8th. William Blair downgraded PetIQ from a “strong-buy” rating to a “hold” rating in a research report on Wednesday, August 7th. Finally, Benchmark reiterated a “buy” rating and set a $30.00 target price on shares of PetIQ in a research report on Friday, May 10th. Two equities research analysts have rated the stock with a hold rating and three have given a buy rating to the company. According to MarketBeat, the stock has an average rating of “Moderate Buy” and an average price target of $29.25.

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.