Spire Wealth Management Buys 160,601 Shares of PSQ Holdings, Inc. (NYSE:PSQH)

Spire Wealth Management lifted its holdings in PSQ Holdings, Inc. (NYSE:PSQH - Free Report) by 68.0% during the 1st quarter, according to its most recent filing with the Securities & Exchange Commission. The firm owned 396,751 shares of the company's stock after purchasing an additional 160,601 shares during the period. Spire Wealth Management owned about 0.92% of PSQ worth $909,000 at the end of the most recent reporting period.

Several other institutional investors have also recently made changes to their positions in PSQH. Man Group plc purchased a new position in PSQ during the fourth quarter valued at $77,000. Toronto Dominion Bank bought a new position in shares of PSQ in the fourth quarter worth about $91,000. Squarepoint Ops LLC purchased a new position in shares of PSQ during the 4th quarter valued at about $109,000. Merit Financial Group LLC purchased a new position in shares of PSQ during the 1st quarter valued at about $215,000. Finally, Northern Trust Corp grew its stake in shares of PSQ by 135.9% during the 4th quarter. Northern Trust Corp now owns 64,759 shares of the company's stock valued at $294,000 after acquiring an additional 37,306 shares during the period. Institutional investors own 17.32% of the company's stock.

PSQ Price Performance

Shares of NYSE PSQH traded up $0.10 during mid-day trading on Tuesday, reaching $2.15. The company's stock had a trading volume of 534,504 shares, compared to its average volume of 1,547,096. The company has a debt-to-equity ratio of 1.09, a current ratio of 4.52 and a quick ratio of 4.24. PSQ Holdings, Inc. has a 52 week low of $1.63 and a 52 week high of $7.77. The stock has a fifty day moving average of $2.09 and a two-hundred day moving average of $2.84. The firm has a market capitalization of $92.26 million, a PE ratio of -1.41 and a beta of -0.02.

PSQ (NYSE:PSQH - Get Free Report) last posted its quarterly earnings results on Thursday, May 8th. The company reported ($0.24) EPS for the quarter, topping analysts' consensus estimates of ($0.30) by $0.06. PSQ had a negative return on equity of 259.58% and a negative net margin of 187.14%. The company had revenue of $6.75 million for the quarter, compared to analysts' expectations of $7.46 million. As a group, sell-side analysts anticipate that PSQ Holdings, Inc. will post -1.54 EPS for the current fiscal year.

Wall Street Analyst Weigh In

A number of research firms have commented on PSQH. Roth Mkm decreased their target price on shares of PSQ from $5.00 to $4.00 and set a "buy" rating on the stock in a research note on Thursday, March 20th. Wall Street Zen cut shares of PSQ from a "hold" rating to a "sell" rating in a research note on Friday.

Insider Activity

In related news, Director Willie Langston bought 27,000 shares of the company's stock in a transaction that occurred on Tuesday, May 20th. The stock was purchased at an average price of $1.95 per share, for a total transaction of $52,650.00. Following the completion of the transaction, the director owned 274,776 shares in the company, valued at $535,813.20. The trade was a 10.90% increase in their ownership of the stock. The acquisition was disclosed in a legal filing with the SEC, which is available through this hyperlink. 32.11% of the stock is currently owned by insiders.

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.