Marshall Wace LLP Boosts Stake in PetIQ, Inc. (NASDAQ:PETQ)

Marshall Wace LLP raised its position in shares of PetIQ, Inc. (NASDAQ:PETQ) by 21.7% in the 2nd quarter, according to its most recent 13F filing with the Securities and Exchange Commission (SEC). The institutional investor owned 396,373 shares of the company’s stock after buying an additional 70,786 shares during the quarter. Marshall Wace LLP owned about 1.33% of PetIQ worth $8,744,000 as of its most recent SEC filing.

Other large investors have also added to or reduced their stakes in the company. CWM LLC grew its holdings in shares of PetIQ by 86.2% in the second quarter. CWM LLC now owns 1,251 shares of the company’s stock valued at $28,000 after purchasing an additional 579 shares in the last quarter. ICA Group Wealth Management LLC bought a new position in PetIQ during the fourth quarter valued at $35,000. First Horizon Advisors Inc. purchased a new position in shares of PetIQ in the 2nd quarter worth $36,000. FinTrust Capital Advisors LLC increased its holdings in shares of 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 buying an additional 875 shares during the last quarter. Finally, Canada Pension Plan Investment Board purchased a new stake in shares of PetIQ during the 2nd quarter valued at about $51,000. Institutional investors own 94.99% of the company’s stock.

Wall Street Analysts Forecast Growth

Several research analysts recently commented on the company. William Blair lowered PetIQ from a “strong-buy” rating to a “hold” rating in a research report on Wednesday, August 7th. Truist Financial cut PetIQ from a “buy” rating to a “hold” rating and lifted their target price for the stock from $30.00 to $31.00 in a report on Thursday, August 8th. Two investment analysts have rated the stock with a hold rating and two have assigned a buy rating to the company. According to data from MarketBeat.com, the stock presently has an average rating of “Moderate Buy” and an average target price of $29.67.

PetIQ Stock Performance

Shares of NASDAQ:PETQ opened at $30.75 on Monday. The company has a current ratio of 2.58, a quick ratio of 1.68 and a debt-to-equity ratio of 1.68. PetIQ, Inc. has a 12 month low of $15.09 and a 12 month high of $30.84. The company has a market capitalization of $919.12 million, a price-to-earnings ratio of 139.78 and a beta of 1.73. The firm’s 50-day moving average is $28.37 and its 200 day moving average is $22.60.

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 the consensus estimate 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 for the quarter, compared to the consensus estimate of $330.14 million. During the same period in the prior year, the business posted $0.37 earnings per share. The company’s revenue for the quarter was up 4.6% on a year-over-year basis. Research analysts predict 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.