Should You Retain Your Holdings in PetIQ (PETQ)?

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Aristotle Capital Boston, LLC, an investment advisor, released its “Small Cap Equity” third quarter 2022 investor letter. A copy of the same can be downloaded here. In the third quarter, the fund delivered a return of -3.09% net of fees, underperforming the -2.19% return of the Russell 2000 Index. Sector allocation contributed positively to the fund’s performance in the quarter, while stock selection detracted. In addition, you can check the top 5 holdings of the fund to know its best picks in 2022.

Aristotle Capital highlighted stocks like PetIQ, Inc. (NASDAQ:PETQ) in the Q3 2022 investor letter. Headquartered in Eagle, Idaho, PetIQ, Inc. (NASDAQ:PETQ) is a pet medication and wellness company. On November 23, 2022, PetIQ, Inc. (NASDAQ:PETQ) stock closed at $11.04 per share. One-month return of PetIQ, Inc. (NASDAQ:PETQ) was 36.80% and its shares lost 50.05% of their value over the last 52 weeks. PetIQ, Inc. (NASDAQ:PETQ) has a market capitalization of $336.519 million.

Aristotle Capital made the following comment about PetIQ, Inc. (NASDAQ:PETQ) in its Q3 2022 investor letter:

PetIQ, Inc. (NASDAQ:PETQ), a holding company that engages in the manufacturing, procurement, packaging and distribution of pet health and wellness, declined amid a soft start to flea and tick season along with near-term inflationary pressures. We maintain our position, as we believe the company is well-positioned to benefit from secular demand tailwinds for pet health products. Additionally, we believe management’s focus on increased penetration for its wellness clinics has the potential to create additional value for shareholders.”

Veterinarian, Vet, Dogs, Pets, Animals

Veterinarian, Vet, Dogs, Pets, Animals

Photo by Karlo Tottoc on Unsplash

PetIQ, Inc. (NASDAQ:PETQ) is not on our list of 30 Most Popular Stocks Among Hedge Funds. As per our database, 18 hedge fund portfolios held PetIQ, Inc. (NASDAQ:PETQ) at the end of the third quarter, which was 16 in the previous quarter.

We discussed PetIQ, Inc. (NASDAQ:PETQ) in another article and shared the list of stocks that are being downgraded on May 13. In addition, please check out our hedge fund investor letters Q3 2022 page for more investor letters from hedge funds and other leading investors.

 

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Disclosure: None. This article is originally published at Insider Monkey.

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