804,315 Shares in PSQ Holdings, Inc. $PSQH Acquired by Belpointe Asset Management LLC

Key Points

• Belpointe Asset Management LLC has acquired a new stake in PSQ Holdings, purchasing approximately 804,315 shares valued at around $1.84 million, representing 1.87% of the company.
• The stock has recently received a downgrade from "hold" to "sell" by Wall Street Zen, despite having two analysts rating it as a Buy with a consensus target price of $6.00.
• PSQ Holdings reported a loss of ($0.18) EPS in its latest earnings, outperforming estimates and noting revenues of $7.08 million compared to an expected $9.11 million.

Belpointe Asset Management LLC purchased a new position in shares of PSQ Holdings, Inc. (NYSE:PSQH - Free Report) in the 1st quarter, according to its most recent Form 13F filing with the SEC. The firm purchased 804,315 shares of the company's stock, valued at approximately $1,842,000. Belpointe Asset Management LLC owned about 1.87% of PSQ at the end of the most recent quarter.

Several other hedge funds have also added to or reduced their stakes in the company. Northern Trust Corp raised its holdings in shares of PSQ by 135.9% during the 4th quarter. Northern Trust Corp now owns 64,759 shares of the company's stock worth $294,000 after buying an additional 37,306 shares in the last quarter. Man Group plc acquired a new position in shares of PSQ during the 4th quarter worth $77,000. Toronto Dominion Bank acquired a new position in shares of PSQ during the 4th quarter worth $91,000. Two Sigma Investments LP acquired a new position in shares of PSQ during the 4th quarter worth $523,000. Finally, Squarepoint Ops LLC acquired a new position in shares of PSQ during the 4th quarter worth $109,000. 17.32% of the stock is owned by institutional investors and hedge funds.

Wall Street Analyst Weigh In

Separately, Wall Street Zen cut PSQ from a "hold" rating to a "sell" rating in a report on Saturday, August 9th. Two investment analysts have rated the stock with a Buy rating, Based on data from MarketBeat.com, the company has an average rating of "Buy" and an average target price of $6.00.

PSQ Price Performance

PSQH traded down $0.03 on Friday, reaching $1.95. The stock had a trading volume of 863,894 shares, compared to its average volume of 1,330,304. PSQ Holdings, Inc. has a fifty-two week low of $1.55 and a fifty-two week high of $7.77. The firm has a 50-day moving average of $1.98 and a 200-day moving average of $2.11. The company has a current ratio of 2.97, a quick ratio of 2.73 and a debt-to-equity ratio of 1.27. The company has a market capitalization of $89.53 million, a price-to-earnings ratio of -1.44 and a beta of -0.04.

PSQ (NYSE:PSQH - Get Free Report) last issued its earnings results on Tuesday, August 12th. The company reported ($0.18) earnings per share (EPS) for the quarter, topping analysts' consensus estimates of ($0.27) by $0.09. PSQ had a negative return on equity of 224.55% and a negative net margin of 169.29%.The business had revenue of $7.08 million during the quarter, compared to analysts' expectations of $9.11 million. As a group, sell-side analysts anticipate that PSQ Holdings, Inc. will post -1.54 EPS for the current year.

About PSQ

PSQ Holdings, Inc, together with its subsidiaries, operates an online marketplace through advertising and eCommerce in the United States. It operates through two segments, Marketplace and Brands segments. The PSQ platform is accessible through its mobile application and website. The company also sells diapers and wipes to mothers online under the EveryLife brand name.