Gabelli Funds LLC trimmed its position in PetIQ, Inc. (NASDAQ:PETQ – Get Rating) by 95.0% during the fourth quarter, according to the company in its most recent 13F filing with the Securities and Exchange Commission (SEC). The fund owned 301,568 shares of the company’s stock after selling 5,762,997 shares during the period. Gabelli Funds LLC owned approximately 1.03% of PetIQ worth $2,780,000 as of its most recent SEC filing.
Other hedge funds and other institutional investors have also recently bought and sold shares of the company. Captrust Financial Advisors grew its position in PetIQ by 1,149.6% in the 2nd quarter. Captrust Financial Advisors now owns 1,562 shares of the company’s stock valued at $26,000 after buying an additional 1,437 shares during the last quarter. Eagle Bay Advisors LLC grew its position in PetIQ by 142.9% in the 2nd quarter. Eagle Bay Advisors LLC now owns 1,683 shares of the company’s stock valued at $28,000 after buying an additional 990 shares during the last quarter. Point72 Hong Kong Ltd grew its position in PetIQ by 3,817.5% in the 3rd quarter. Point72 Hong Kong Ltd now owns 8,070 shares of the company’s stock valued at $56,000 after buying an additional 7,864 shares during the last quarter. FDx Advisors Inc. purchased a new position in PetIQ in the 3rd quarter valued at $71,000. Finally, Tower Research Capital LLC TRC grew its position in PetIQ by 880.4% in the 3rd quarter. Tower Research Capital LLC TRC now owns 10,637 shares of the company’s stock valued at $74,000 after buying an additional 9,552 shares during the last quarter. 94.71% of the stock is currently owned by hedge funds and other institutional investors.
Analysts Set New Price Targets
PETQ has been the subject of a number of recent analyst reports. Truist Financial reduced their target price on PetIQ from $30.00 to $20.00 in a report on Friday, February 17th. Benchmark reissued a “buy” rating and issued a $30.00 target price on shares of PetIQ in a report on Monday, February 13th.
PetIQ Price Performance
PetIQ (NASDAQ:PETQ – Get Rating) last released its earnings results on Tuesday, May 9th. The company reported $0.38 EPS for the quarter, beating analysts’ consensus estimates of $0.25 by $0.13. The company had revenue of $290.47 million during the quarter, compared to the consensus estimate of $278.69 million. PetIQ had a positive return on equity of 8.91% and a negative net margin of 4.45%. As a group, analysts predict that PetIQ, Inc. will post 0.42 earnings per share for the current fiscal year.
PetIQ Profile
PetIQ, Inc is a holding company, which engages in the manufacture, procurement, packaging, and distribution of pet health and wellness products. It operates through the Products and Services segments. The Products segment produces and distributes pet medication and health and wellness products to the retail channel.
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