Belpointe Asset Management LLC Sells 106,000 Shares of PSQ Holdings, Inc. $PSQH

Belpointe Asset Management LLC lowered its holdings in shares of PSQ Holdings, Inc. (NYSE:PSQH) by 13.2% in the second quarter, according to its most recent disclosure with the SEC. The firm owned 698,315 shares of the company’s stock after selling 106,000 shares during the period. Belpointe Asset Management LLC’s holdings in PSQ were worth $1,432,000 as of its most recent filing with the SEC.

A number of other hedge funds and other institutional investors have also bought and sold shares of PSQH. Spire Wealth Management grew its holdings in PSQ by 68.0% during the first quarter. Spire Wealth Management now owns 396,751 shares of the company’s stock worth $909,000 after purchasing an additional 160,601 shares during the period. Cubist Systematic Strategies LLC bought a new position in PSQ during the first quarter worth about $341,000. OMERS ADMINISTRATION Corp bought a new position in PSQ during the first quarter worth about $267,000. Merit Financial Group LLC bought a new position in PSQ during the first quarter worth about $215,000. Finally, XTX Topco Ltd bought a new position in PSQ during the first quarter worth about $98,000. Institutional investors own 17.32% of the company’s stock.

PSQ Trading Down 6.6%

Shares of NYSE:PSQH opened at $2.19 on Wednesday. PSQ Holdings, Inc. has a 12-month low of $1.55 and a 12-month high of $7.77. The stock has a market cap of $100.31 million and a PE ratio of -1.62. The business has a 50 day moving average of $1.93 and a 200-day moving average of $2.05. The company has a quick ratio of 2.73, a current ratio of 2.97 and a debt-to-equity ratio of 1.27.

PSQ (NYSE:PSQH) last released its quarterly earnings results on Tuesday, August 12th. The company reported ($0.18) earnings per share for the quarter, beating analysts’ consensus estimates of ($0.27) by $0.09. PSQ had a negative net margin of 169.29% and a negative return on equity of 224.55%. The company had revenue of $7.08 million during the quarter, compared to the consensus estimate of $9.11 million. As a group, equities research analysts forecast that PSQ Holdings, Inc. will post -1.54 earnings per share for the current year.

Wall Street Analyst Weigh In

A number of equities research analysts have recently issued reports on the company. Weiss Ratings restated a “sell (e+)” rating on shares of PSQ in a report on Saturday, September 27th. Wall Street Zen cut PSQ from a “hold” rating to a “sell” rating in a report on Saturday, August 9th. Two equities research analysts have rated the stock with a Buy rating and one has given a Sell rating to the company. Based on data from MarketBeat, PSQ presently has an average rating of “Hold” and a consensus price target of $6.00.

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.