Landscape Capital Management L.L.C. Sells 37,400 Shares of PetIQ, Inc. (NASDAQ:PETQ)

Landscape Capital Management L.L.C. trimmed its holdings in shares of PetIQ, Inc. (NASDAQ:PETQ) by 39.7% in the 3rd quarter, according to its most recent Form 13F filing with the Securities and Exchange Commission. The firm owned 56,832 shares of the company’s stock after selling 37,400 shares during the quarter. Landscape Capital Management L.L.C. owned approximately 0.19% of PetIQ worth $1,749,000 at the end of the most recent quarter.

Several other institutional investors have also added to or reduced their stakes in the business. CWM LLC raised its stake in PetIQ by 86.2% during the 2nd quarter. CWM LLC now owns 1,251 shares of the company’s stock worth $28,000 after acquiring an additional 579 shares during the period. First Horizon Advisors Inc. bought a new position in shares of PetIQ during the second quarter worth $36,000. Quest Partners LLC purchased a new position in shares of PetIQ during the third quarter valued at about $49,000. Canada Pension Plan Investment Board purchased a new stake in shares of PetIQ in the second quarter worth about $51,000. Finally, Darwin Wealth Management LLC bought a new position in PetIQ during the third quarter valued at approximately $76,000. 94.99% of the stock is currently owned by institutional investors.

PetIQ Price Performance

Shares of PETQ opened at $30.98 on Friday. The company has a quick ratio of 1.68, a current ratio of 2.58 and a debt-to-equity ratio of 1.68. The business has a fifty day moving average of $30.89 and a 200 day moving average of $26.28. The company has a market cap of $925.99 million, a PE ratio of 79.44 and a beta of 1.73. PetIQ, Inc. has a 52-week low of $15.09 and a 52-week high of $31.06.

Wall Street Analyst Weigh In

A number of research firms recently weighed in on PETQ. Truist Financial lowered shares of PetIQ from a “buy” rating to a “hold” rating and raised their target price for the company 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 report on Wednesday, August 7th.

About PetIQ

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.