Darwin Wealth Management LLC Buys Shares of 2,472 PetIQ, Inc. (NASDAQ:PETQ)

Darwin Wealth Management LLC bought a new position in shares of PetIQ, Inc. (NASDAQ:PETQ) during the 3rd quarter, Holdings Channel reports. The institutional investor bought 2,472 shares of the company’s stock, valued at approximately $76,000.

Other hedge funds have also recently bought and sold shares of the company. Alpine Associates Management Inc. bought a new position in shares of PetIQ in the third quarter valued at $20,156,000. Tributary Capital Management LLC acquired a new stake in shares of PetIQ during the second quarter worth $11,414,000. Millennium Management LLC lifted 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 worth $10,731,000 after buying an additional 402,057 shares in the last quarter. Assenagon Asset Management S.A. acquired a new position in PetIQ in the second quarter valued at about $3,164,000. Finally, Acadian Asset Management LLC raised its stake in PetIQ by 243.8% in the first quarter. Acadian Asset Management LLC now owns 151,945 shares of the company’s stock valued at $2,777,000 after purchasing an additional 107,752 shares in the last quarter. 94.99% of the stock is currently owned by institutional investors and hedge funds.

Wall Street Analyst Weigh In

Several brokerages have commented on PETQ. Truist Financial downgraded PetIQ from a “buy” rating to a “hold” rating and boosted their target price for the stock from $30.00 to $31.00 in a research note on Thursday, August 8th. William Blair lowered PetIQ from a “strong-buy” rating to a “hold” rating in a research note on Wednesday, August 7th.

PetIQ Stock Performance

Shares of NASDAQ PETQ opened at $30.98 on Thursday. The stock has a market cap of $925.99 million, a price-to-earnings ratio of 79.44 and a beta of 1.73. The company has a current ratio of 2.58, a quick ratio of 1.68 and a debt-to-equity ratio of 1.68. PetIQ, Inc. has a 1-year low of $15.09 and a 1-year high of $31.06. The stock’s 50-day moving average is $30.89 and its 200 day moving average is $26.24.

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.