655,067 Shares in PetIQ, Inc. (NASDAQ:PETQ) Purchased by Alpine Associates Management Inc.

Alpine Associates Management Inc. acquired a new position in shares of PetIQ, Inc. (NASDAQ:PETQ) in the 3rd quarter, according to the company in its most recent Form 13F filing with the Securities and Exchange Commission. The fund acquired 655,067 shares of the company’s stock, valued at approximately $20,156,000. Alpine Associates Management Inc. owned about 2.19% of PetIQ as of its most recent filing with the Securities and Exchange Commission.

Several other large investors have also made changes to their positions in PETQ. Sei Investments Co. raised its holdings in PetIQ by 2.4% in the 1st quarter. Sei Investments Co. now owns 259,315 shares of the company’s stock valued at $4,740,000 after acquiring an additional 6,102 shares in the last quarter. Vanguard Group Inc. raised its holdings in PetIQ by 4.9% in the 1st quarter. Vanguard Group Inc. now owns 2,252,842 shares of the company’s stock valued at $41,182,000 after acquiring an additional 105,083 shares in the last quarter. Acadian Asset Management LLC raised its holdings in PetIQ by 243.8% in the 1st quarter. Acadian Asset Management LLC now owns 151,945 shares of the company’s stock valued at $2,777,000 after acquiring an additional 107,752 shares in the last quarter. Boston Partners raised its holdings in PetIQ by 6.8% in the 1st quarter. Boston Partners now owns 1,067,677 shares of the company’s stock valued at $19,124,000 after acquiring an additional 67,797 shares in the last quarter. Finally, DekaBank Deutsche Girozentrale raised its holdings in PetIQ by 107.4% in the 1st quarter. DekaBank Deutsche Girozentrale now owns 5,221 shares of the company’s stock valued at $91,000 after acquiring an additional 2,704 shares in the last quarter. Institutional investors and hedge funds own 94.99% of the company’s stock.

Analysts Set New Price Targets

Several equities analysts have commented on the company. William Blair cut PetIQ from a “strong-buy” rating to a “hold” rating in a report on Wednesday, August 7th. Truist Financial cut PetIQ from a “buy” rating to a “hold” rating and upped their price target for the company from $30.00 to $31.00 in a report on Thursday, August 8th.

PetIQ Stock Performance

PETQ stock opened at $30.98 on Wednesday. PetIQ, Inc. has a 1-year low of $15.09 and a 1-year high of $31.06. The firm has a market cap of $925.99 million, a P/E ratio of 79.44 and a beta of 1.73. The business’s 50 day moving average is $30.88 and its 200-day moving average is $26.21. The company has a current ratio of 2.58, a quick ratio of 1.68 and a debt-to-equity ratio of 1.68.

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.