Traders Buy High Volume of Put Options on PetIQ (NASDAQ:PETQ)

PetIQ, Inc. (NASDAQ:PETQ) was the target of unusually large options trading on Wednesday. Stock investors acquired 940 put options on the stock. This is an increase of approximately 1,153% compared to the average volume of 75 put options.

In other news, Director Ronald Kennedy sold 10,000 shares of PetIQ stock in a transaction dated Friday, March 5th. The stock was sold at an average price of $32.88, for a total transaction of $328,800.00. The transaction was disclosed in a legal filing with the SEC, which is accessible through the SEC website. Also, CFO John Newland sold 4,500 shares of the business’s stock in a transaction dated Monday, March 22nd. The shares were sold at an average price of $36.00, for a total value of $162,000.00. Following the completion of the sale, the chief financial officer now directly owns 76,682 shares of the company’s stock, valued at $2,760,552. The disclosure for this sale can be found here. Insiders have sold a total of 1,573,235 shares of company stock worth $55,409,506 in the last three months. Corporate insiders own 24.12% of the company’s stock.

A number of hedge funds and other institutional investors have recently added to or reduced their stakes in PETQ. Great West Life Assurance Co. Can grew its holdings in PetIQ by 289.3% in the third quarter. Great West Life Assurance Co. Can now owns 4,901 shares of the company’s stock valued at $40,000 after purchasing an additional 3,642 shares during the last quarter. SG Americas Securities LLC acquired a new stake in PetIQ in the 4th quarter valued at about $181,000. Ritholtz Wealth Management acquired a new stake in PetIQ in the 4th quarter valued at about $231,000. Squarepoint Ops LLC purchased a new position in PetIQ during the 3rd quarter valued at about $288,000. Finally, ProShare Advisors LLC raised its holdings in shares of PetIQ by 30.9% in the fourth quarter. ProShare Advisors LLC now owns 8,637 shares of the company’s stock worth $332,000 after acquiring an additional 2,038 shares during the last quarter.

NASDAQ:PETQ opened at $42.15 on Friday. PetIQ has a 1 year low of $22.75 and a 1 year high of $42.69. The company has a debt-to-equity ratio of 1.19, a quick ratio of 1.62 and a current ratio of 2.45. The stock has a fifty day moving average price of $35.92 and a two-hundred day moving average price of $33.58. The stock has a market capitalization of $1.22 billion, a price-to-earnings ratio of -13.30, a PEG ratio of 1.44 and a beta of 1.50.

PetIQ (NASDAQ:PETQ) last announced its quarterly earnings results on Thursday, February 25th. The company reported ($0.20) earnings per share (EPS) for the quarter, beating the Zacks’ consensus estimate of ($0.21) by $0.01. The business had revenue of $164.21 million during the quarter, compared to the consensus estimate of $146.48 million. PetIQ had a negative net margin of 10.13% and a positive return on equity of 4.47%. On average, analysts predict that PetIQ will post 0.18 EPS for the current year.

Several brokerages have recently weighed in on PETQ. Zacks Investment Research upgraded shares of PetIQ from a “strong sell” rating to a “hold” rating in a research note on Saturday, March 27th. Raymond James increased their price objective on PetIQ from $35.00 to $45.00 and gave the stock an “outperform” rating in a research report on Thursday, March 4th. One investment analyst has rated the stock with a hold rating and four have assigned a buy rating to the company’s stock. The company presently has an average rating of “Buy” and an average price target of $69.40.

About PetIQ

PetIQ, Inc operates as a pet medication and wellness company. It operates in two segments, Products and Services. The company offers Rx pet medications, which include heartworm preventatives, arthritis, thyroid, diabetes and pain treatments, antibiotics, and other specialty medications; and co-develops and manufactures its own proprietary value-branded products, as well as distributes third-party branded medications.

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