Eos Management L.P. Invests $143.84 Million in PetIQ, Inc. (PETQ)

Eos Management L.P. bought a new position in shares of PetIQ, Inc. (NASDAQ:PETQ) during the third quarter, according to its most recent disclosure with the Securities & Exchange Commission. The institutional investor bought 5,311,523 shares of the company’s stock, valued at approximately $143,836,000. PetIQ accounts for about 43.9% of Eos Management L.P.’s investment portfolio, making the stock its biggest position. Eos Management L.P. owned 16.87% of PetIQ at the end of the most recent reporting period.

Other hedge funds and other institutional investors also recently added to or reduced their stakes in the company. American International Group Inc. bought a new position in PetIQ in the 3rd quarter valued at $131,000. Wasatch Advisors Inc. bought a new position in PetIQ in the 3rd quarter valued at $7,229,000. EAM Investors LLC bought a new position in PetIQ in the 3rd quarter valued at $2,615,000. Chartwell Investment Partners LLC bought a new position in PetIQ in the 3rd quarter valued at $3,228,000. Finally, Cortina Asset Management LLC bought a new position in PetIQ in the 3rd quarter valued at $5,956,000. 34.94% of the stock is owned by institutional investors and hedge funds.

Shares of PetIQ, Inc. (PETQ) opened at $22.20 on Friday. The company has a debt-to-equity ratio of 0.19, a current ratio of 6.83 and a quick ratio of 4.67. PetIQ, Inc. has a 1-year low of $17.03 and a 1-year high of $28.23.

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A number of research analysts have issued reports on PETQ shares. Jefferies Group LLC started coverage on PetIQ in a research note on Tuesday, August 15th. They issued a “hold” rating and a $25.00 price objective for the company. William Blair initiated coverage on PetIQ in a research note on Tuesday, August 15th. They set an “outperform” rating for the company. SunTrust Banks, Inc. initiated coverage on PetIQ in a research note on Tuesday, August 15th. They set a “buy” rating and a $28.00 price target for the company. Oppenheimer Holdings, Inc. initiated coverage on PetIQ in a research note on Tuesday, August 15th. They set an “outperform” rating and a $28.00 price target for the company. Finally, Raymond James Financial, Inc. initiated coverage on PetIQ in a research note on Tuesday, August 15th. They set an “outperform” rating and a $26.00 price target for the company. Six equities research analysts have rated the stock with a buy rating, The company has a consensus rating of “Buy” and an average price target of $27.20.

PetIQ Profile

PetIQ, Inc is engaged in manufacturing and distributing pet medication and health and wellness products to the retail channel in the United States. The Company provides retail stores with third-party brands, including Frontline Plus, Heartgard Plus, PetAction Plus, Advecta II, Pet Lock Plus, Pet Lock Max, TruProfen and Heartshield.

Institutional Ownership by Quarter for PetIQ (NASDAQ:PETQ)

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