Cornercap Investment Counsel Inc. Has $814,000 Stock Position in PetIQ, Inc. (NASDAQ:PETQ)

Cornercap Investment Counsel Inc. cut its holdings in shares of PetIQ, Inc. (NASDAQ:PETQ) by 53.7% in the third quarter, according to its most recent filing with the Securities and Exchange Commission. The firm owned 26,441 shares of the company’s stock after selling 30,633 shares during the quarter. Cornercap Investment Counsel Inc. owned 0.09% of PetIQ worth $814,000 at the end of the most recent quarter.

Other institutional investors have also recently bought and sold shares of the company. Vanguard Group Inc. raised its stake in shares of 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. Dimensional Fund Advisors LP increased its position in shares of PetIQ by 3.6% during the second quarter. Dimensional Fund Advisors LP now owns 1,236,632 shares of the company’s stock valued at $27,281,000 after purchasing an additional 43,268 shares during the period. Boston Partners boosted its stake 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 buying an additional 67,797 shares in the last quarter. Nepsis Inc. boosted its stake in PetIQ by 0.4% in the second quarter. Nepsis Inc. now owns 901,425 shares of the company’s stock worth $19,885,000 after purchasing an additional 3,256 shares in the last quarter. Finally, Thornburg Investment Management Inc. boosted its stake in PetIQ by 7.6% in the first quarter. Thornburg Investment Management Inc. now owns 690,980 shares of the company’s stock worth $12,630,000 after purchasing an additional 49,056 shares in the last quarter. 94.99% of the stock is currently owned by institutional investors and hedge funds.

PetIQ Price Performance

Shares of NASDAQ PETQ opened at $30.98 on Friday. The business’s 50 day moving average is $30.87 and its 200-day moving average is $25.88. PetIQ, Inc. has a 1-year low of $15.09 and a 1-year high of $31.06. The company has a current ratio of 2.58, a quick ratio of 1.68 and a debt-to-equity ratio of 1.68. The firm has a market cap of $925.99 million, a P/E ratio of 79.44 and a beta of 1.73.

Analysts Set New Price Targets

Several equities analysts have recently issued reports on PETQ shares. William Blair lowered PetIQ from a “strong-buy” rating to a “hold” rating in a research note on Wednesday, August 7th. Truist Financial downgraded PetIQ from a “buy” rating to a “hold” rating and upped their price objective for the company from $30.00 to $31.00 in a report on Thursday, August 8th.

PetIQ Profile

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.