Jackson Creek Investment Advisors LLC Purchases New Stake in PetIQ, Inc. (NASDAQ:PETQ)

Jackson Creek Investment Advisors LLC purchased a new stake in PetIQ, Inc. (NASDAQ:PETQ) during the 2nd quarter, according to the company in its most recent filing with the Securities & Exchange Commission. The firm purchased 60,712 shares of the company’s stock, valued at approximately $1,339,000. Jackson Creek Investment Advisors LLC owned about 0.20% of PetIQ as of its most recent SEC filing.

Several other hedge funds have also added to or reduced their stakes in PETQ. CWM LLC boosted its holdings in 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 acquiring an additional 579 shares during the last quarter. ICA Group Wealth Management LLC bought a new position in PetIQ during the fourth quarter worth about $35,000. First Horizon Advisors Inc. bought a new position in PetIQ during the second quarter worth 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 buying an additional 875 shares during the last quarter. Finally, DekaBank Deutsche Girozentrale boosted its holdings in PetIQ by 107.4% during the first quarter. DekaBank Deutsche Girozentrale now owns 5,221 shares of the company’s stock worth $91,000 after buying an additional 2,704 shares during the last quarter. Institutional investors own 94.99% of the company’s stock.

PetIQ Trading Down 0.1 %

NASDAQ PETQ opened at $30.53 on Wednesday. The firm has a market cap of $912.54 million, a P/E ratio of 138.78 and a beta of 1.71. The company has a debt-to-equity ratio of 1.68, a current ratio of 2.58 and a quick ratio of 1.68. The stock’s 50-day moving average is $25.32 and its 200-day moving average is $20.92. PetIQ, Inc. has a one year low of $15.09 and a one year high of $30.68.

PetIQ (NASDAQ:PETQ) last announced its earnings results on Wednesday, August 7th. The company reported $0.70 earnings per share (EPS) for the quarter, beating analysts’ consensus estimates of $0.50 by $0.20. PetIQ had a return on equity of 18.75% and a net margin of 1.20%. The business had revenue of $328.90 million for the quarter, compared to analyst estimates of $330.14 million. During the same quarter last year, the firm earned $0.37 EPS. PetIQ’s revenue for the quarter was up 4.6% compared to the same quarter last year. Sell-side analysts anticipate that PetIQ, Inc. will post 1.12 earnings per share for the current fiscal year.

Wall Street Analyst Weigh In

A number of equities analysts have issued reports on PETQ shares. 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 raised their target price for the stock from $30.00 to $31.00 in a report on Thursday, August 8th. Finally, Benchmark restated a “buy” rating and set a $30.00 target price on shares of PetIQ in a report on Friday, May 10th. Two investment analysts have rated the stock with a hold rating and three have assigned a buy rating to the stock. According to data from MarketBeat.com, the stock presently has an average rating of “Moderate Buy” and a consensus target price of $29.25.

Insider Activity at PetIQ

In related news, Director Scott Huff sold 12,117 shares of PetIQ stock in a transaction that occurred on Wednesday, June 12th. The stock was sold at an average price of $22.19, for a total value of $268,876.23. The sale was disclosed in a document filed with the SEC, which is available at this link. 9.62% of the stock is owned by insiders.

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.