Voloridge Investment Management LLC Takes Position in PetIQ, Inc. (NASDAQ:PETQ)


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Voloridge Investment Management LLC purchased a new stake in PetIQ, Inc. (NASDAQ:PETQ) in the 4th quarter, according to the company in its most recent filing with the Securities & Exchange Commission. The institutional investor purchased 8,899 shares of the company’s stock, valued at approximately $342,000.

Several other institutional investors also recently added to or reduced their stakes in the company. Yiheng Capital Management L.P. boosted its holdings in shares of PetIQ by 2.6% in the fourth quarter. Yiheng Capital Management L.P. now owns 686,987 shares of the company’s stock valued at $26,415,000 after buying an additional 17,300 shares during the period. Canada Pension Plan Investment Board acquired a new position in PetIQ during the fourth quarter worth $1,242,000. Kiwi Wealth Investments Limited Partnership acquired a new position in PetIQ during the fourth quarter worth $3,254,000. HN Saltoro Capital LP acquired a new position in PetIQ during the fourth quarter worth $615,000. Finally, Morgan Stanley boosted its holdings in PetIQ by 130.8% during the fourth quarter. Morgan Stanley now owns 335,285 shares of the company’s stock worth $12,892,000 after purchasing an additional 190,045 shares during the last quarter.

Several research analysts recently commented on PETQ shares. Zacks Investment Research upgraded shares of PetIQ from a “strong sell” rating to a “hold” rating in a report on Saturday, March 27th. Raymond James increased their target price on shares of PetIQ from $35.00 to $45.00 and gave the stock an “outperform” rating in a report on Thursday, March 4th. One equities research analyst has rated the stock with a hold rating and four have given a buy rating to the company. The company has a consensus rating of “Buy” and an average price target of $69.40.

In other news, EVP Michael A. Smith sold 11,213 shares of the stock in a transaction dated Monday, March 15th. The shares were sold at an average price of $37.75, for a total value of $423,290.75. Following the transaction, the executive vice president now directly owns 1,580 shares of the company’s stock, valued at $59,645. The sale was disclosed in a legal filing with the Securities & Exchange Commission, which is available through the SEC website. Also, CFO John Newland sold 9,000 shares of the stock in a transaction dated Thursday, January 21st. The shares were sold at an average price of $36.00, for a total transaction of $324,000.00. Following the completion of the transaction, the chief financial officer now directly owns 77,329 shares in the company, valued at $2,783,844. The disclosure for this sale can be found here. In the last quarter, insiders sold 1,582,235 shares of company stock valued at $55,733,506. Corporate insiders own 24.12% of the company’s stock.

Shares of PETQ stock opened at $36.27 on Tuesday. The stock has a market cap of $1.05 billion, a P/E ratio of -11.44, a P/E/G ratio of 1.44 and a beta of 1.50. The company has a debt-to-equity ratio of 1.19, a current ratio of 2.45 and a quick ratio of 1.62. The company has a fifty day moving average price of $35.28 and a two-hundred day moving average price of $33.31. PetIQ, Inc. has a one year low of $21.17 and a one year high of $39.29.

PetIQ (NASDAQ:PETQ) last announced its quarterly earnings results on Thursday, February 25th. The company reported ($0.20) EPS for the quarter, beating analysts’ consensus estimates of ($0.21) by $0.01. The firm had revenue of $164.21 million during the quarter, compared to analysts’ expectations of $146.48 million. PetIQ had a negative net margin of 10.13% and a positive return on equity of 4.47%. As a group, equities research analysts anticipate that PetIQ, Inc. will post 0.18 EPS for the current fiscal year.

PetIQ Profile

PetIQ, Inc operates as a pet medication and wellness company. It operates in two segments, Products and Services. The company offers Rx pet medications, which include heartworm preventatives, arthritis, thyroid, diabetes and pain treatments, antibiotics, and other specialty medications; and co-develops and manufactures its own proprietary value-branded products, as well as distributes third-party branded medications.

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Institutional Ownership by Quarter for PetIQ (NASDAQ:PETQ)

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