Hillsdale Investment Management Inc. Trims Stock Position in PetIQ, Inc. (NASDAQ:PETQ)

Hillsdale Investment Management Inc. lowered its stake in shares of PetIQ, Inc. (NASDAQ:PETQ) by 96.0% in the first quarter, HoldingsChannel.com reports. The institutional investor owned 9,600 shares of the company’s stock after selling 230,600 shares during the period. Hillsdale Investment Management Inc.’s holdings in PetIQ were worth $175,000 as of its most recent filing with the SEC.

A number of other institutional investors have also modified their holdings of the stock. Vanguard Group Inc. boosted its holdings in shares of PetIQ by 4.9% during the 1st quarter. Vanguard Group Inc. now owns 2,252,842 shares of the company’s stock worth $41,182,000 after purchasing an additional 105,083 shares during the last quarter. Dimensional Fund Advisors LP boosted its holdings in shares of PetIQ by 13.9% during the 4th quarter. Dimensional Fund Advisors LP now owns 1,086,625 shares of the company’s stock worth $21,461,000 after purchasing an additional 132,450 shares during the last quarter. Goldman Sachs Group Inc. boosted its holdings in shares of PetIQ by 11.7% during the 4th quarter. Goldman Sachs Group Inc. now owns 1,036,292 shares of the company’s stock worth $20,467,000 after purchasing an additional 108,870 shares during the last quarter. Nomura Holdings Inc. boosted its holdings in shares of PetIQ by 7.1% during the 4th quarter. Nomura Holdings Inc. now owns 423,496 shares of the company’s stock worth $8,364,000 after purchasing an additional 28,231 shares during the last quarter. Finally, Sei Investments Co. boosted its holdings in shares of PetIQ by 2.4% during the 1st quarter. Sei Investments Co. now owns 259,315 shares of the company’s stock worth $4,740,000 after purchasing an additional 6,102 shares during the last quarter. Hedge funds and other institutional investors own 94.99% of the company’s stock.

Analyst Ratings Changes

Separately, Benchmark restated a “buy” rating and set a $30.00 target price on shares of PetIQ in a report on Friday, May 10th. Four investment analysts have rated the stock with a buy rating, According to data from MarketBeat.com, PetIQ presently has a consensus rating of “Buy” and a consensus target price of $29.00.

PetIQ Trading Down 0.3 %

PETQ traded down $0.06 during trading hours on Monday, reaching $21.31. The company’s stock had a trading volume of 160,462 shares, compared to its average volume of 295,587. PetIQ, Inc. has a fifty-two week low of $15.09 and a fifty-two week high of $22.98. The stock has a market cap of $633.97 million, a PE ratio of 96.87 and a beta of 1.71. The business’s 50-day moving average is $21.41 and its 200-day moving average is $18.95. The company has a debt-to-equity ratio of 1.84, a current ratio of 2.42 and a quick ratio of 1.25.

PetIQ (NASDAQ:PETQ) last released its quarterly earnings data on Wednesday, May 8th. The company reported $0.51 EPS for the quarter, beating analysts’ consensus estimates of $0.34 by $0.17. The firm had revenue of $308.44 million for the quarter, compared to analysts’ expectations of $302.16 million. PetIQ had a return on equity of 13.33% and a net margin of 0.66%. As a group, equities research analysts predict that PetIQ, Inc. will post 1.1 earnings per share for the current fiscal year.

Insider Buying and Selling at PetIQ

In other PetIQ news, Director Scott Huff sold 12,117 shares of the business’s stock in a transaction that occurred on Wednesday, June 12th. The stock was sold at an average price of $22.19, for a total value of $268,876.23. The sale was disclosed in a document filed with the SEC, which is available at this hyperlink. 9.62% of the stock is owned by corporate insiders.

About PetIQ

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.