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

Algert Global LLC lessened its stake in PetIQ, Inc. (NASDAQ:PETQ) by 10.2% during the second quarter, Holdings Channel reports. The firm owned 29,534 shares of the company’s stock after selling 3,347 shares during the period. Algert Global LLC’s holdings in PetIQ were worth $652,000 as of its most recent SEC filing.

Several other hedge funds also recently modified their holdings of the stock. CWM LLC lifted its stake in PetIQ by 86.2% during the 2nd quarter. CWM LLC now owns 1,251 shares of the company’s stock valued at $28,000 after acquiring an additional 579 shares in the last quarter. First Horizon Advisors Inc. bought a new position in shares of PetIQ during the second quarter valued at about $36,000. FinTrust Capital Advisors LLC boosted its holdings in PetIQ by 50.2% during the first 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 last quarter. Canada Pension Plan Investment Board bought a new stake in PetIQ in the 2nd quarter worth about $51,000. Finally, DekaBank Deutsche Girozentrale increased its stake in PetIQ by 107.4% in the 1st 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 during the last quarter. Hedge funds and other institutional investors own 94.99% of the company’s stock.

Wall Street Analysts Forecast Growth

A number of equities analysts have recently weighed in on the company. William Blair downgraded PetIQ from a “strong-buy” rating to a “hold” rating in a research note on Wednesday, August 7th. Truist Financial downgraded PetIQ from a “buy” rating to a “hold” rating and upped their price objective for the company from $30.00 to $31.00 in a research note on Thursday, August 8th. Two investment analysts have rated the stock with a hold rating and two have issued a buy rating to the stock. According to data from MarketBeat.com, PetIQ has an average rating of “Moderate Buy” and an average target price of $29.67.

PetIQ Price Performance

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

PetIQ (NASDAQ:PETQ) last released its quarterly earnings data on Wednesday, August 7th. The company reported $0.70 earnings per share for the quarter, beating analysts’ consensus estimates of $0.50 by $0.20. The business had revenue of $328.90 million during 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 was up 4.6% compared to the same quarter last year. During the same period in the previous year, the business earned $0.37 EPS. Equities analysts expect that PetIQ, Inc. will post 1.15 EPS for the current year.

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.