1620 Investment Advisors Inc. Has $42,000 Stake in PetIQ, Inc. (NASDAQ:PETQ)

1620 Investment Advisors Inc. decreased its position in PetIQ, Inc. (NASDAQ:PETQ) by 69.8% during the 3rd quarter, according to its most recent filing with the Securities and Exchange Commission (SEC). The firm owned 1,373 shares of the company’s stock after selling 3,180 shares during the quarter. 1620 Investment Advisors Inc.’s holdings in PetIQ were worth $42,000 at the end of the most recent reporting period.

Several other hedge funds also recently modified their holdings of the stock. CWM LLC grew its holdings in shares of PetIQ by 86.2% in the 2nd quarter. CWM LLC now owns 1,251 shares of the company’s stock valued at $28,000 after acquiring an additional 579 shares in the last quarter. FinTrust Capital Advisors LLC boosted its holdings 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 worth $48,000 after acquiring an additional 875 shares during the period. ClariVest Asset Management LLC boosted its holdings in shares of PetIQ by 1.3% during the second quarter. ClariVest Asset Management LLC now owns 94,603 shares of the company’s stock worth $2,087,000 after acquiring an additional 1,209 shares during the period. First Horizon Advisors Inc. bought a new stake in shares of PetIQ during the second quarter worth approximately $36,000. Finally, China Universal Asset Management Co. Ltd. boosted its holdings in shares of PetIQ by 64.4% during the third quarter. China Universal Asset Management Co. Ltd. now owns 5,703 shares of the company’s stock worth $175,000 after acquiring an additional 2,233 shares during the period. Institutional investors own 94.99% of the company’s stock.

Wall Street Analyst Weigh In

A number of equities research analysts have recently issued reports on the company. Truist Financial cut PetIQ from a “buy” rating to a “hold” rating and boosted their price objective for the stock from $30.00 to $31.00 in a report on Thursday, August 8th. William Blair downgraded shares of PetIQ from a “strong-buy” rating to a “hold” rating in a research report on Wednesday, August 7th. Two equities research analysts have rated the stock with a hold rating and two have assigned a buy rating to the stock. According to MarketBeat.com, PetIQ presently has an average rating of “Moderate Buy” and a consensus target price of $29.67.

PetIQ Price Performance

NASDAQ PETQ opened at $30.98 on Thursday. The company has a current ratio of 2.58, a quick ratio of 1.68 and a debt-to-equity ratio of 1.68. PetIQ, Inc. has a 1-year low of $15.09 and a 1-year high of $31.06. The company has a 50 day moving average of $30.76 and a 200-day moving average of $24.72. The company has a market cap of $925.99 million, a price-to-earnings ratio of 79.44 and a beta of 1.73.

PetIQ (NASDAQ:PETQ) last released its quarterly earnings results on Wednesday, August 7th. The company reported $0.70 earnings per share for the quarter, beating analysts’ consensus estimates of $0.50 by $0.20. PetIQ had a net margin of 1.20% and a return on equity of 18.75%. The company had revenue of $328.90 million during the quarter, compared to the consensus estimate of $330.14 million. During the same period in the previous year, the business earned $0.37 earnings per share. The firm’s quarterly revenue was up 4.6% on a year-over-year basis. On average, equities research analysts expect that PetIQ, Inc. will post 1.12 earnings per share for the current fiscal year.

PetIQ 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.