Oppenheimer Asset Management Inc. Makes New Investment in PetIQ, Inc. (NASDAQ:PETQ)

Oppenheimer Asset Management Inc. purchased a new position in shares of PetIQ, Inc. (NASDAQ:PETQGet Rating) during the first quarter, HoldingsChannel reports. The firm purchased 9,876 shares of the company’s stock, valued at approximately $241,000.

A number of other institutional investors have also recently bought and sold shares of PETQ. Capital Research Global Investors grew its position in shares of PetIQ by 93.4% in the fourth quarter. Capital Research Global Investors now owns 351,000 shares of the company’s stock valued at $7,971,000 after purchasing an additional 169,500 shares during the last quarter. Geneva Capital Management LLC grew its position in shares of PetIQ by 3.0% in the first quarter. Geneva Capital Management LLC now owns 1,264,020 shares of the company’s stock valued at $30,842,000 after purchasing an additional 36,461 shares during the last quarter. Fulcrum Asset Management LLP acquired a new position in shares of PetIQ in the first quarter valued at approximately $1,574,000. Acuitas Investments LLC acquired a new position in shares of PetIQ in the first quarter valued at approximately $3,628,000. Finally, Walleye Capital LLC acquired a new position in shares of PetIQ in the fourth quarter valued at approximately $1,249,000.

PetIQ Trading Down 3.9 %

Shares of PETQ stock opened at $8.68 on Tuesday. The company has a current ratio of 2.88, a quick ratio of 1.54 and a debt-to-equity ratio of 1.69. The stock has a market cap of $255.28 million, a P/E ratio of -17.71, a price-to-earnings-growth ratio of 1.34 and a beta of 1.52. The stock has a 50 day simple moving average of $15.62 and a 200 day simple moving average of $18.23. PetIQ, Inc. has a 1 year low of $8.60 and a 1 year high of $28.58.

Analyst Ratings Changes

Several equities analysts have recently commented on the company. Raymond James decreased their target price on PetIQ from $29.00 to $21.00 in a research report on Wednesday, August 10th. Oppenheimer downgraded PetIQ from an “outperform” rating to a “market perform” rating in a research report on Friday, May 13th. One equities research analyst has rated the stock with a hold rating and three have assigned a buy rating to the company’s stock. Based on data from MarketBeat.com, PetIQ has an average rating of “Moderate Buy” and an average price target of $29.25.

PetIQ Company Profile

(Get Rating)

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 include 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 distributes third-party branded medications.

See Also

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Institutional Ownership by Quarter for PetIQ (NASDAQ:PETQ)

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