Belpointe Asset Management LLC Invests $1.84 Million in PSQ Holdings, Inc. $PSQH

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 bought a new stake in shares of PSQ Holdings, Inc. (NYSE:PSQH - Free Report) in the first quarter, according to its most recent filing with the Securities and Exchange Commission. The fund bought 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.

A number of other institutional investors have also recently made changes to their positions in PSQH. Spire Wealth Management boosted its stake in PSQ by 68.0% in the first quarter. Spire Wealth Management now owns 396,751 shares of the company's stock valued at $909,000 after acquiring an additional 160,601 shares in the last quarter. Cubist Systematic Strategies LLC purchased a new stake in PSQ during the 1st quarter valued at about $341,000. OMERS ADMINISTRATION Corp acquired a new position in PSQ in the 1st quarter valued at about $267,000. Two Sigma Investments LP acquired a new position in shares of PSQ in the 4th quarter worth approximately $523,000. Finally, Merit Financial Group LLC purchased a new stake in shares of PSQ in the 1st quarter valued at approximately $215,000. Institutional investors own 17.32% of the company's stock.

Wall Street Analysts Forecast Growth

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

PSQ Stock Performance

PSQH stock traded down $0.07 during midday trading on Tuesday, hitting $1.96. 359,434 shares of the company traded hands, compared to its average volume of 951,593. PSQ Holdings, Inc. has a twelve month low of $1.55 and a twelve month high of $7.77. The company has a quick ratio of 2.73, a current ratio of 2.97 and a debt-to-equity ratio of 1.27. The stock has a market capitalization of $89.76 million, a price-to-earnings ratio of -1.45 and a beta of -0.04. The business has a 50 day simple moving average of $1.98 and a 200-day simple moving average of $2.10.

PSQ (NYSE:PSQH - Get Free Report) last released its quarterly earnings results on Tuesday, August 12th. The company reported ($0.18) earnings per share (EPS) for the quarter, beating 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, equities research analysts predict that PSQ Holdings, Inc. will post -1.54 earnings per share for the current year.

PSQ Company Profile

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.