6,800 Shares in PetIQ, Inc. (NASDAQ:PETQ) Acquired by Wolverine Asset Management LLC

Wolverine Asset Management LLC acquired a new position in shares of PetIQ, Inc. (NASDAQ:PETQ) in the 3rd quarter, according to its most recent disclosure with the Securities & Exchange Commission. The fund acquired 6,800 shares of the company’s stock, valued at approximately $209,000.

A number of other institutional investors also recently bought and sold shares of PETQ. Tributary Capital Management LLC purchased a new position in shares of PetIQ in the second quarter valued at $11,414,000. Millennium Management LLC increased its holdings in PetIQ by 476.4% during the 2nd quarter. Millennium Management LLC now owns 486,445 shares of the company’s stock valued at $10,731,000 after acquiring an additional 402,057 shares in the last quarter. Assenagon Asset Management S.A. acquired a new position in PetIQ during the second quarter worth about $3,164,000. Acadian Asset Management LLC grew its position in shares of PetIQ by 243.8% in the first quarter. Acadian Asset Management LLC now owns 151,945 shares of the company’s stock valued at $2,777,000 after purchasing an additional 107,752 shares during the last quarter. Finally, Vanguard Group Inc. increased its stake in shares of PetIQ by 4.9% during the 1st quarter. Vanguard Group Inc. now owns 2,252,842 shares of the company’s stock worth $41,182,000 after purchasing an additional 105,083 shares in the last quarter. 94.99% of the stock is currently owned by hedge funds and other institutional investors.

Analyst Ratings Changes

A number of brokerages have commented on PETQ. William Blair cut PetIQ from a “strong-buy” rating to a “hold” rating in a report on Wednesday, August 7th. Truist Financial cut PetIQ from a “buy” rating to a “hold” rating and lifted their price objective for the stock from $30.00 to $31.00 in a research report on Thursday, August 8th.

PetIQ Stock Performance

Shares of PETQ opened at $30.98 on Friday. PetIQ, Inc. has a fifty-two week low of $15.09 and a fifty-two week high of $31.06. The company has a market capitalization of $925.99 million, a PE ratio of 79.44 and a beta of 1.73. The stock has a fifty day moving average of $30.86 and a two-hundred day moving average of $25.78. The company has a debt-to-equity ratio of 1.68, a quick ratio of 1.68 and a current ratio of 2.58.

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.