Applied Fundamental Research LLC Has $6.74 Million Stake in PetIQ, Inc. (NASDAQ:PETQ)

Applied Fundamental Research LLC trimmed its position in PetIQ, Inc. (NASDAQ:PETQ) by 64.9% during the third quarter, according to the company in its most recent 13F filing with the SEC. The firm owned 219,076 shares of the company’s stock after selling 405,000 shares during the quarter. PetIQ makes up 4.5% of Applied Fundamental Research LLC’s holdings, making the stock its 10th largest position. Applied Fundamental Research LLC’s holdings in PetIQ were worth $6,741,000 at the end of the most recent reporting period.

Several other hedge funds have also bought and sold shares of the company. Boston Partners lifted its holdings in PetIQ by 6.8% during the 1st quarter. Boston Partners now owns 1,067,677 shares of the company’s stock valued at $19,124,000 after purchasing an additional 67,797 shares during the last quarter. Vanguard Group Inc. boosted its holdings 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 buying an additional 105,083 shares during the period. Wedge Capital Management L L P NC bought a new stake in shares of PetIQ during the 2nd quarter worth about $1,277,000. Divisadero Street Capital Management LP acquired a new position in PetIQ in the 2nd quarter valued at about $1,219,000. Finally, Assenagon Asset Management S.A. bought a new position in PetIQ in the 2nd quarter valued at about $3,164,000. 94.99% of the stock is currently owned by institutional investors and hedge funds.

PetIQ Stock Performance

NASDAQ PETQ opened at $30.98 on Tuesday. The firm has a 50-day moving average price of $30.90 and a two-hundred day moving average price of $26.58. PetIQ, Inc. has a 12-month low of $15.09 and a 12-month high of $31.06. The company has a market capitalization of $925.99 million, a P/E ratio of 79.44 and a beta of 1.73. The company has a quick ratio of 1.68, a current ratio of 2.58 and a debt-to-equity ratio of 1.68.

Analyst Ratings Changes

Several equities analysts have recently commented on the company. William Blair downgraded PetIQ from a “strong-buy” rating to a “hold” rating in a research report on Wednesday, August 7th. Truist Financial downgraded PetIQ from a “buy” rating to a “hold” rating and boosted their price target for the company from $30.00 to $31.00 in a research note on Thursday, August 8th.

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.