Russell Investments Group Ltd. Has $5.22 Million Stock Holdings in PetIQ, Inc. (NASDAQ:PETQ)

Russell Investments Group Ltd. reduced its stake in PetIQ, Inc. (NASDAQ:PETQ) by 14.3% in the 4th quarter, according to the company in its most recent disclosure with the Securities and Exchange Commission. The institutional investor owned 264,324 shares of the company’s stock after selling 44,018 shares during the period. Russell Investments Group Ltd. owned 0.90% of PetIQ worth $5,220,000 as of its most recent SEC filing.

Several other institutional investors have also recently made changes to their positions in PETQ. DekaBank Deutsche Girozentrale acquired a new position in PetIQ during the 4th quarter worth approximately $50,000. China Universal Asset Management Co. Ltd. increased its stake in PetIQ by 351.4% during the 4th quarter. China Universal Asset Management Co. Ltd. now owns 3,372 shares of the company’s stock valued at $67,000 after purchasing an additional 2,625 shares in the last quarter. SG Americas Securities LLC acquired a new position in PetIQ during the third quarter worth $113,000. Zurcher Kantonalbank Zurich Cantonalbank bought a new position in shares of PetIQ in the fourth quarter valued at $177,000. Finally, Olympiad Research LP acquired a new position in shares of PetIQ during the third quarter valued at about $205,000. Institutional investors and hedge funds own 94.99% of the company’s stock.

PetIQ Stock Performance

NASDAQ PETQ opened at $18.69 on Friday. The company’s 50 day moving average is $17.06 and its 200-day moving average is $17.99. The firm has a market cap of $550.07 million, a P/E ratio of 311.50 and a beta of 1.68. PetIQ, Inc. has a 12-month low of $11.92 and a 12-month high of $22.98. The company has a quick ratio of 1.43, a current ratio of 2.27 and a debt-to-equity ratio of 1.97.

PetIQ (NASDAQ:PETQ) last issued its earnings results on Wednesday, February 28th. The company reported ($0.16) EPS for the quarter, topping the consensus estimate of ($0.38) by $0.22. PetIQ had a return on equity of 11.72% and a net margin of 0.19%. The business had revenue of $219.93 million during the quarter, compared to the consensus estimate of $189.70 million. Sell-side analysts predict that PetIQ, Inc. will post 0.94 earnings per share for the current year.

Analyst Upgrades and Downgrades

Separately, Jefferies Financial Group upped their target price on shares of PetIQ from $24.00 to $28.00 and gave the stock a “buy” rating in a report on Tuesday, March 19th. Four equities research analysts have rated the stock with a buy rating, Based on data from MarketBeat.com, the stock has a consensus rating of “Buy” and a consensus target price of $29.00.

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.