Jackson Creek Investment Advisors LLC Makes New $1.34 Million Investment in PetIQ, Inc. (NASDAQ:PETQ)

Jackson Creek Investment Advisors LLC purchased a new position in shares of PetIQ, Inc. (NASDAQ:PETQ) in the 2nd quarter, HoldingsChannel reports. The firm purchased 60,712 shares of the company’s stock, valued at approximately $1,339,000.

Several other hedge funds have also recently added to or reduced their stakes in PETQ. Tributary Capital Management LLC bought a new position in PetIQ during the 2nd quarter worth approximately $11,414,000. Assenagon Asset Management S.A. bought a new stake in shares of PetIQ in the 2nd quarter valued at $3,164,000. Dimensional Fund Advisors LP increased its stake in shares of PetIQ by 13.9% in the 4th quarter. Dimensional Fund Advisors LP now owns 1,086,625 shares of the company’s stock valued at $21,461,000 after acquiring an additional 132,450 shares in the last quarter. Goldman Sachs Group Inc. increased its stake in shares of PetIQ by 11.7% in the 4th quarter. Goldman Sachs Group Inc. now owns 1,036,292 shares of the company’s stock valued at $20,467,000 after acquiring an additional 108,870 shares in the last quarter. Finally, Acadian Asset Management LLC increased its stake in shares of PetIQ by 243.8% in the 1st quarter. Acadian Asset Management LLC now owns 151,945 shares of the company’s stock valued at $2,777,000 after acquiring an additional 107,752 shares in the last quarter. Institutional investors own 94.99% of the company’s stock.

Insiders Place Their Bets

In other PetIQ news, Director Scott Huff sold 12,117 shares of the company’s stock in a transaction on Wednesday, June 12th. The shares were sold at an average price of $22.19, for a total transaction of $268,876.23. The transaction was disclosed in a filing with the SEC, which is accessible through this hyperlink. Corporate insiders own 9.62% of the company’s stock.

PetIQ Stock Performance

PETQ opened at $30.53 on Wednesday. The company has a current ratio of 2.58, a quick ratio of 1.68 and a debt-to-equity ratio of 1.68. The company’s fifty day moving average price is $25.32 and its two-hundred day moving average price is $20.92. PetIQ, Inc. has a 1-year low of $15.09 and a 1-year high of $30.68. The company has a market cap of $912.54 million, a price-to-earnings ratio of 138.78 and a beta of 1.71.

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

Analyst Upgrades and Downgrades

PETQ has been the subject of several research analyst reports. Benchmark reiterated a “buy” rating and issued a $30.00 price objective on shares of PetIQ in a research note on Friday, May 10th. Truist Financial lowered shares of PetIQ from a “buy” rating to a “hold” rating and lifted their price objective for the company from $30.00 to $31.00 in a research note on Thursday, August 8th. Finally, William Blair lowered shares of PetIQ from a “strong-buy” rating to a “hold” rating in a research note on Wednesday, August 7th. Two research analysts have rated the stock with a hold rating and three have assigned a buy rating to the stock. Based on data from MarketBeat.com, the stock presently has an average rating of “Moderate Buy” and an average price target of $29.25.

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.