Park West Asset Management LLC boosted its stake in shares of PetIQ Inc (NASDAQ:PETQ) by 4.6% in the first quarter, HoldingsChannel.com reports. The fund owned 935,317 shares of the company’s stock after purchasing an additional 41,213 shares during the period. Park West Asset Management LLC’s holdings in PetIQ were worth $24,879,000 at the end of the most recent reporting period.
Other large investors also recently bought and sold shares of the company. Eagle Asset Management Inc. acquired a new position in PetIQ during the fourth quarter worth $2,020,000. Fred Alger Management Inc. raised its position in PetIQ by 544.6% during the fourth quarter. Fred Alger Management Inc. now owns 112,302 shares of the company’s stock worth $2,453,000 after acquiring an additional 94,880 shares during the period. Brown Advisory Inc. acquired a new position in PetIQ during the fourth quarter worth $324,000. Cooper Creek Partners Management LLC raised its position in PetIQ by 192.3% during the fourth quarter. Cooper Creek Partners Management LLC now owns 366,801 shares of the company’s stock worth $8,011,000 after acquiring an additional 241,292 shares during the period. Finally, Spark Investment Management LLC raised its position in PetIQ by 10.5% during the fourth quarter. Spark Investment Management LLC now owns 150,000 shares of the company’s stock worth $3,276,000 after acquiring an additional 14,300 shares during the period. Institutional investors own 64.00% of the company’s stock.
Shares of PetIQ opened at $21.90 on Thursday, according to MarketBeat Ratings. The stock has a market capitalization of $518.63 million and a PE ratio of 56.15. The company has a quick ratio of 1.09, a current ratio of 2.35 and a debt-to-equity ratio of 0.69. PetIQ Inc has a 52 week low of $17.03 and a 52 week high of $28.23.
In related news, CFO John Newland sold 5,500 shares of the company’s stock in a transaction dated Monday, March 19th. The shares were sold at an average price of $24.83, for a total value of $136,565.00. The sale was disclosed in a document filed with the Securities & Exchange Commission, which is available at this link. Also, Director Ronald Kennedy acquired 20,200 shares of the company’s stock in a transaction that occurred on Monday, May 21st. The stock was purchased at an average cost of $17.88 per share, with a total value of $361,176.00. The disclosure for this purchase can be found here. Insiders sold 65,500 shares of company stock valued at $1,657,765 over the last quarter. Company insiders own 45.26% of the company’s stock.
A number of equities research analysts have recently commented on PETQ shares. Zacks Investment Research upgraded shares of PetIQ from a “sell” rating to a “hold” rating in a research report on Wednesday, June 6th. BidaskClub upgraded shares of PetIQ from a “sell” rating to a “hold” rating in a research report on Friday, May 25th. Finally, Jefferies Financial Group reiterated a “buy” rating and issued a $30.00 target price on shares of PetIQ in a research report on Wednesday, May 16th. Two equities research analysts have rated the stock with a hold rating and six have issued a buy rating to the company’s stock. The stock presently has a consensus rating of “Buy” and an average price target of $28.00.
PetIQ, Inc develops, manufactures, and distributes pet medications, and health and wellness products for dogs and cats in the United States, Canada, and Europe. It offers pet prescription medications, including products for arthritis, thyroid, and diabetes and pain treatments, as well as heartworm preventatives, antibiotics, and other specialty medications; over-the-counter medications and supplies, such as flea and tick control products in various forms comprising spot on treatments, chewables, and collars; and health and wellness products consisting of specialty treats and other pet products, which include dental treats and nutritional supplements.
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