Investors Buy Large Volume of PetIQ Put Options (NASDAQ:PETQ)

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PetIQ Inc (NASDAQ:PETQ) was the recipient of some unusual options trading activity on Tuesday. Traders purchased 682 put options on the company. This represents an increase of 1,118% compared to the average daily volume of 56 put options.

A number of equities analysts have recently commented on PETQ shares. Zacks Investment Research raised shares of PetIQ from a “hold” rating to a “buy” rating and set a $36.00 price target on the stock in a research report on Friday, August 9th. BidaskClub lowered shares of PetIQ from a “hold” rating to a “sell” rating in a research report on Saturday, September 7th. Guggenheim started coverage on shares of PetIQ in a research report on Thursday, May 23rd. They issued a “buy” rating and a $35.00 price target on the stock. Finally, ValuEngine lowered shares of PetIQ from a “buy” rating to a “hold” rating in a research report on Thursday, August 1st. One investment analyst has rated the stock with a sell rating, one has given a hold rating and six have given a buy rating to the company’s stock. The company currently has an average rating of “Buy” and an average price target of $41.33.

Shares of PETQ stock opened at $26.21 on Thursday. PetIQ has a 1 year low of $21.29 and a 1 year high of $42.75. The firm’s fifty day simple moving average is $30.94 and its 200 day simple moving average is $30.54. The firm has a market capitalization of $750.99 million, a P/E ratio of 20.97, a price-to-earnings-growth ratio of 0.99 and a beta of 2.09. The company has a current ratio of 2.97, a quick ratio of 1.66 and a debt-to-equity ratio of 0.33.

PetIQ (NASDAQ:PETQ) last posted its quarterly earnings results on Wednesday, August 7th. The company reported $0.70 earnings per share for the quarter, topping the Zacks’ consensus estimate of $0.35 by $0.35. PetIQ had a net margin of 0.68% and a return on equity of 10.17%. The firm had revenue of $220.60 million for the quarter, compared to the consensus estimate of $193.89 million. During the same quarter in the previous year, the company earned $0.66 earnings per share. The business’s revenue was up 28.9% compared to the same quarter last year. Equities research analysts anticipate that PetIQ will post 1.07 EPS for the current fiscal year.

In other PetIQ news, insider Will Santana sold 10,000 shares of PetIQ stock in a transaction that occurred on Thursday, August 22nd. The shares were sold at an average price of $32.34, for a total value of $323,400.00. The transaction was disclosed in a legal filing with the Securities & Exchange Commission, which can be accessed through the SEC website. Insiders sold 80,000 shares of company stock valued at $2,639,000 over the last quarter. Corporate insiders own 23.79% of the company’s stock.

A number of institutional investors and hedge funds have recently bought and sold shares of the business. AQR Capital Management LLC boosted its stake in PetIQ by 4.0% during the second quarter. AQR Capital Management LLC now owns 9,620 shares of the company’s stock worth $317,000 after buying an additional 367 shares in the last quarter. Manchester Capital Management LLC acquired a new stake in PetIQ during the first quarter worth $30,000. Zions Bancorporation N.A. boosted its stake in PetIQ by 14.2% during the second quarter. Zions Bancorporation N.A. now owns 7,700 shares of the company’s stock worth $254,000 after buying an additional 955 shares in the last quarter. GSA Capital Partners LLP boosted its stake in PetIQ by 12.2% during the second quarter. GSA Capital Partners LLP now owns 9,089 shares of the company’s stock worth $300,000 after buying an additional 989 shares in the last quarter. Finally, Boston Partners boosted its stake in PetIQ by 1.3% during the second quarter. Boston Partners now owns 100,206 shares of the company’s stock worth $3,302,000 after buying an additional 1,266 shares in the last quarter. Hedge funds and other institutional investors own 91.72% of the company’s stock.

About PetIQ

PetIQ, Inc operates as a pet health and wellness company. It operates through two segments, Products and Services. It manufactures and distributes veterinarian services and veterinarian-grade pet products, including prescription (Rx) medications, over-the-counter (OTC) flea and tick preventatives, and health and wellness products for dogs and cats.

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