Heritage Wealth Management LLC Sells 2,228 Shares of PetIQ, Inc. (NASDAQ:PETQ)

Heritage Wealth Management LLC cut its stake in PetIQ, Inc. (NASDAQ:PETQ) by 60.6% in the second quarter, according to the company in its most recent filing with the Securities and Exchange Commission (SEC). The firm owned 1,450 shares of the company’s stock after selling 2,228 shares during the period. Heritage Wealth Management LLC’s holdings in PetIQ were worth $56,000 as of its most recent SEC filing.

A number of other institutional investors also recently modified their holdings of the business. BlackRock Inc. boosted its holdings in PetIQ by 6.7% in the 2nd quarter. BlackRock Inc. now owns 2,306,277 shares of the company’s stock valued at $89,021,000 after purchasing an additional 144,740 shares during the period. Thornburg Investment Management Inc. raised its stake in shares of PetIQ by 0.5% in the 2nd quarter. Thornburg Investment Management Inc. now owns 766,146 shares of the company’s stock valued at $29,573,000 after buying an additional 3,846 shares in the last quarter. Principal Financial Group Inc. raised its stake in shares of PetIQ by 9.8% in the 2nd quarter. Principal Financial Group Inc. now owns 50,162 shares of the company’s stock valued at $1,936,000 after buying an additional 4,476 shares in the last quarter. Skandinaviska Enskilda Banken AB publ raised its stake in shares of PetIQ by 48.3% in the 2nd quarter. Skandinaviska Enskilda Banken AB publ now owns 47,744 shares of the company’s stock valued at $1,843,000 after buying an additional 15,544 shares in the last quarter. Finally, State Board of Administration of Florida Retirement System raised its stake in shares of PetIQ by 8.0% in the 2nd quarter. State Board of Administration of Florida Retirement System now owns 7,472 shares of the company’s stock valued at $288,000 after buying an additional 556 shares in the last quarter.

PETQ has been the subject of a number of recent research reports. Jefferies Financial Group dropped their price objective on shares of PetIQ from $40.00 to $36.00 and set a “buy” rating for the company in a research note on Wednesday, September 8th. Zacks Investment Research cut shares of PetIQ from a “hold” rating to a “sell” rating in a research report on Friday, August 6th.

Shares of PetIQ stock opened at $24.68 on Friday. The company has a quick ratio of 2.01, a current ratio of 3.20 and a debt-to-equity ratio of 1.70. The stock has a market capitalization of $724.01 million, a P/E ratio of -9.07, a price-to-earnings-growth ratio of 1.27 and a beta of 1.49. PetIQ, Inc. has a 12-month low of $23.68 and a 12-month high of $46.00. The company has a 50-day simple moving average of $28.77 and a 200 day simple moving average of $35.36.

PetIQ (NASDAQ:PETQ) last posted its quarterly earnings data on Wednesday, August 4th. The company reported $0.57 earnings per share for the quarter, missing the consensus estimate of $0.64 by ($0.07). The company had revenue of $271.01 million during the quarter, compared to analyst estimates of $305.61 million. PetIQ had a negative net margin of 7.92% and a positive return on equity of 5.31%. On average, equities analysts anticipate that PetIQ, Inc. will post 0.8 earnings per share for the current year.

In other PetIQ news, CFO John Newland sold 4,500 shares of the firm’s stock in a transaction dated Wednesday, July 21st. The shares were sold at an average price of $36.69, for a total value of $165,105.00. Following the completion of the sale, the chief financial officer now owns 58,682 shares in the company, valued at approximately $2,153,042.58. The transaction was disclosed in a filing with the Securities & Exchange Commission, which is available at this hyperlink. Company insiders own 8.71% of the company’s stock.

About PetIQ

PetIQ, Inc is a holding company, which engages in the manufacture, procurement, packaging, and distribution of pet health and wellness products. It operates through the Products and Services segments. The Products segment produces and distributes pet medication and health and wellness products to the retail channel.

Further Reading: How to read a candlestick chart

Institutional Ownership by Quarter for PetIQ (NASDAQ:PETQ)

Receive News & Ratings for PetIQ Daily - Enter your email address below to receive a concise daily summary of the latest news and analysts' ratings for PetIQ and related companies with MarketBeat.com's FREE daily email newsletter.