Allspring Global Investments Holdings LLC Sells 2,174 Shares of PetIQ, Inc. (NASDAQ:PETQ)

Allspring Global Investments Holdings LLC lessened its holdings in PetIQ, Inc. (NASDAQ:PETQ) by 1.5% during the second quarter, according to the company in its most recent filing with the Securities and Exchange Commission. The firm owned 138,486 shares of the company’s stock after selling 2,174 shares during the period. Allspring Global Investments Holdings LLC’s holdings in PetIQ were worth $3,055,000 as of its most recent filing with the Securities and Exchange Commission.

A number of other large investors have also added to or reduced their stakes in PETQ. CWM LLC grew its position in shares of PetIQ by 86.2% in the second quarter. CWM LLC now owns 1,251 shares of the company’s stock valued at $28,000 after purchasing an additional 579 shares during the last quarter. First Horizon Advisors Inc. acquired a new position in PetIQ in the 2nd quarter valued at $36,000. ICA Group Wealth Management LLC acquired a new position in PetIQ in the 4th quarter valued at $35,000. FinTrust Capital Advisors LLC increased its position in PetIQ by 50.2% during the 1st quarter. FinTrust Capital Advisors LLC now owns 2,618 shares of the company’s stock worth $48,000 after buying an additional 875 shares during the period. Finally, AJOVista LLC acquired a new stake in shares of PetIQ during the fourth quarter worth $65,000. Institutional investors own 94.99% of the company’s stock.

Insider Buying and Selling at PetIQ

In other news, Director Scott Huff sold 12,117 shares of the stock in a transaction dated Wednesday, June 12th. The shares were sold at an average price of $22.19, for a total value of $268,876.23. The transaction was disclosed in a legal filing with the Securities & Exchange Commission, which is accessible through the SEC website. Company insiders own 9.62% of the company’s stock.

Wall Street Analyst Weigh In

PETQ has been the topic of a number of recent research reports. William Blair lowered shares of PetIQ from a “strong-buy” rating to a “hold” rating in a research report on Wednesday, August 7th. Benchmark reaffirmed a “buy” rating and set a $30.00 target price on shares of PetIQ in a report on Friday, May 10th. Finally, Truist Financial downgraded shares of PetIQ from a “buy” rating to a “hold” rating and lifted their price target for the company from $30.00 to $31.00 in a research report on Thursday, August 8th. Two analysts have rated the stock with a hold rating and three have assigned a buy rating to the stock. According to MarketBeat.com, the company has a consensus rating of “Moderate Buy” and a consensus target price of $29.25.

PetIQ Trading Up 0.1 %

PETQ opened at $30.55 on Monday. The company has a quick ratio of 1.68, a current ratio of 2.58 and a debt-to-equity ratio of 1.68. PetIQ, Inc. has a twelve month low of $15.09 and a twelve month high of $30.68. The stock has a market capitalization of $913.14 million, a price-to-earnings ratio of 138.87 and a beta of 1.71. The company has a 50-day simple moving average of $24.98 and a 200 day simple moving average of $20.76.

PetIQ (NASDAQ:PETQ) last issued its earnings results on Wednesday, August 7th. The company reported $0.70 earnings per share for the quarter, beating analysts’ consensus estimates of $0.50 by $0.20. PetIQ had a return on equity of 18.75% and a net margin of 1.20%. The firm had revenue of $328.90 million for the quarter, compared to the consensus estimate of $330.14 million. During the same quarter last year, the business posted $0.37 EPS. The company’s revenue was up 4.6% compared to the same quarter last year. Analysts predict that PetIQ, Inc. will post 1.12 EPS for the current fiscal year.

PetIQ Company 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.