Oppenheimer & Co. Inc. Makes New Investment in PetIQ Inc (NASDAQ:PETQ)

Oppenheimer & Co. Inc. acquired a new position in shares of PetIQ Inc (NASDAQ:PETQ) in the 2nd quarter, according to its most recent disclosure with the Securities & Exchange Commission. The fund acquired 6,549 shares of the company’s stock, valued at approximately $216,000.

Other hedge funds and other institutional investors have also recently bought and sold shares of the company. BNP Paribas Arbitrage SA boosted its stake in shares of PetIQ by 327,900.0% during the first quarter. BNP Paribas Arbitrage SA now owns 3,280 shares of the company’s stock valued at $103,000 after purchasing an additional 3,279 shares during the period. Boston Partners purchased a new stake in shares of PetIQ during the first quarter valued at $3,108,000. Raymond James Financial Services Advisors Inc. purchased a new stake in shares of PetIQ during the first quarter valued at $505,000. Raymond James & Associates boosted its stake in shares of PetIQ by 152.1% during the first quarter. Raymond James & Associates now owns 110,612 shares of the company’s stock valued at $3,474,000 after purchasing an additional 66,735 shares during the period. Finally, Redwood Investments LLC boosted its stake in shares of PetIQ by 19.0% during the first quarter. Redwood Investments LLC now owns 451,152 shares of the company’s stock valued at $14,171,000 after purchasing an additional 72,099 shares during the period. 91.80% of the stock is owned by institutional investors.

Shares of PETQ traded down $0.11 during trading hours on Friday, reaching $26.90. 9,276 shares of the company traded hands, compared to its average volume of 386,504. The firm has a market cap of $781.75 million, a price-to-earnings ratio of 21.53, a PEG ratio of 1.03 and a beta of 2.09. PetIQ Inc has a 12-month low of $21.29 and a 12-month high of $43.93. The company has a current ratio of 2.97, a quick ratio of 1.66 and a debt-to-equity ratio of 0.33. The stock’s fifty day moving average price is $32.04 and its 200 day moving average price is $30.65.

PetIQ (NASDAQ:PETQ) last released its quarterly earnings data on Wednesday, August 7th. The company reported $0.70 earnings per share for the quarter, beating the consensus estimate of $0.35 by $0.35. The firm had revenue of $220.60 million during the quarter, compared to the consensus estimate of $193.89 million. PetIQ had a return on equity of 10.17% and a net margin of 0.68%. The firm’s quarterly revenue was up 28.9% on a year-over-year basis. During the same period in the previous year, the company posted $0.66 earnings per share. On average, research analysts forecast that PetIQ Inc will post 1.07 earnings per share for the current year.

PETQ has been the subject of a number of recent analyst reports. ValuEngine lowered shares of PetIQ from a “buy” rating to a “hold” rating in a research note on Thursday, August 1st. Guggenheim initiated coverage on shares of PetIQ in a research note on Thursday, May 23rd. They set a “buy” rating and a $35.00 target price for the company. BidaskClub lowered shares of PetIQ from a “hold” rating to a “sell” rating in a research note on Saturday, September 7th. Finally, Zacks Investment Research raised shares of PetIQ from a “hold” rating to a “buy” rating and set a $36.00 target price for the company in a research note on Friday, August 9th. One research analyst has rated the stock with a sell rating, one has issued a hold rating and six have given a buy rating to the company. PetIQ currently has an average rating of “Buy” and an average price target of $41.33.

In related news, insider Will Santana sold 20,000 shares of PetIQ stock in a transaction dated Wednesday, July 10th. The stock was sold at an average price of $34.07, for a total value of $681,400.00. The transaction was disclosed in a filing with the Securities & Exchange Commission, which is available through this hyperlink. Insiders sold 80,000 shares of company stock valued at $2,639,000 over the last 90 days. 23.79% of the stock is currently owned by corporate insiders.

About PetIQ

PetIQ, Inc operates as a pet health and wellness company. It operates through two segments, Products and Services. It manufactures and distributes veterinarian services and veterinarian-grade pet products, including prescription (Rx) medications, over-the-counter (OTC) flea and tick preventatives, and health and wellness products for dogs and cats.

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Institutional Ownership by Quarter for PetIQ (NASDAQ:PETQ)

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