Darwin Wealth Management LLC Takes $76,000 Position in PetIQ, Inc. (NASDAQ:PETQ)

Darwin Wealth Management LLC purchased a new stake in shares of PetIQ, Inc. (NASDAQ:PETQ) in the third quarter, according to the company in its most recent Form 13F filing with the Securities and Exchange Commission (SEC). The fund purchased 2,472 shares of the company’s stock, valued at approximately $76,000.

Other institutional investors have also recently added to or reduced their stakes in the company. Alpine Associates Management Inc. purchased a new stake in shares of PetIQ in the third quarter worth about $20,156,000. Tributary Capital Management LLC bought a new position in shares of PetIQ during the second quarter valued at approximately $11,414,000. Millennium Management LLC grew its holdings in shares of PetIQ by 476.4% during the second quarter. Millennium Management LLC now owns 486,445 shares of the company’s stock valued at $10,731,000 after purchasing an additional 402,057 shares during the last quarter. Assenagon Asset Management S.A. bought a new position in shares of PetIQ during the second quarter valued at approximately $3,164,000. Finally, Acadian Asset Management LLC grew its holdings in PetIQ by 243.8% in the 1st quarter. Acadian Asset Management LLC now owns 151,945 shares of the company’s stock worth $2,777,000 after buying an additional 107,752 shares in the last quarter. Hedge funds and other institutional investors own 94.99% of the company’s stock.

PetIQ Price Performance

NASDAQ:PETQ opened at $30.98 on Thursday. PetIQ, Inc. has a one year low of $15.09 and a one year high of $31.06. The stock has a market cap of $925.99 million, a P/E ratio of 79.44 and a beta of 1.73. 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 company has a fifty day moving average price of $30.89 and a 200 day moving average price of $26.24.

Wall Street Analyst Weigh In

PETQ has been the subject of a number of recent analyst reports. Truist Financial lowered PetIQ from a “buy” rating to a “hold” rating and increased their price objective for the stock from $30.00 to $31.00 in a report on Thursday, August 8th. William Blair lowered PetIQ from a “strong-buy” rating to a “hold” rating in a report on Wednesday, August 7th.

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.