Sei Investments Co. Trims Stock Position in PetIQ, Inc. (NASDAQ:PETQ)

Sei Investments Co. trimmed its holdings in shares of PetIQ, Inc. (NASDAQ:PETQ) by 4.7% in the second quarter, according to the company in its most recent filing with the Securities and Exchange Commission (SEC). The institutional investor owned 247,054 shares of the company’s stock after selling 12,261 shares during the period. Sei Investments Co.’s holdings in PetIQ were worth $5,450,000 as of its most recent SEC filing.

Several other institutional investors have also recently modified their holdings of PETQ. CWM LLC grew its holdings 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 buying an additional 579 shares during the last quarter. FinTrust Capital Advisors LLC boosted its stake in shares of PetIQ by 50.2% during the first quarter. FinTrust Capital Advisors LLC now owns 2,618 shares of the company’s stock valued at $48,000 after acquiring an additional 875 shares during the last quarter. ClariVest Asset Management LLC increased its position in PetIQ by 1.3% during the 2nd quarter. ClariVest Asset Management LLC now owns 94,603 shares of the company’s stock worth $2,087,000 after purchasing an additional 1,209 shares in the last quarter. First Horizon Advisors Inc. purchased a new stake in PetIQ during the 2nd quarter worth about $36,000. Finally, ICA Group Wealth Management LLC acquired a new position in PetIQ in the 4th quarter valued at about $35,000. 94.99% of the stock is currently owned by institutional investors and hedge funds.

Analyst Upgrades and Downgrades

A number of analysts recently issued reports on PETQ shares. William Blair lowered shares of 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 raised their price objective for the stock from $30.00 to $31.00 in a report on Thursday, August 8th. Two research analysts have rated the stock with a hold rating and two have issued a buy rating to the stock. Based on data from MarketBeat.com, the stock presently has a consensus rating of “Moderate Buy” and a consensus price target of $29.67.

PetIQ Stock Up 0.1 %

Shares of NASDAQ:PETQ opened at $30.77 on Tuesday. PetIQ, Inc. has a 1 year low of $15.09 and a 1 year high of $30.84. The stock has a 50-day simple moving average of $28.56 and a 200-day simple moving average of $22.71. 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 stock has a market capitalization of $919.72 million, a P/E ratio of 139.87 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 (EPS) for the quarter, topping the consensus estimate of $0.50 by $0.20. The company 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%. The business’s quarterly revenue was up 4.6% compared to the same quarter last year. During the same quarter in the prior year, the business earned $0.37 earnings per share. Equities analysts forecast that PetIQ, Inc. will post 1.15 earnings per share for the current year.

PetIQ Company 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.