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

Belpointe Asset Management LLC reduced its stake in PSQ Holdings, Inc. (NYSE:PSQH) by 13.2% during the 2nd quarter, according to its most recent 13F filing with the Securities & Exchange Commission. The fund owned 698,315 shares of the company’s stock after selling 106,000 shares during the period. Belpointe Asset Management LLC owned 1.63% of PSQ worth $1,432,000 at the end of the most recent quarter.

Other hedge funds have also added to or reduced their stakes in the company. Cubist Systematic Strategies LLC acquired a new stake in PSQ during the 1st quarter worth $341,000. Merit Financial Group LLC acquired a new stake in PSQ during the 1st quarter worth $215,000. XTX Topco Ltd acquired a new stake in PSQ during the 1st quarter worth $98,000. Squarepoint Ops LLC acquired a new stake in PSQ during the 4th quarter worth $109,000. Finally, OMERS ADMINISTRATION Corp acquired a new stake in PSQ during the 1st quarter worth $267,000. Institutional investors and hedge funds own 17.32% of the company’s stock.

PSQ Price Performance

NYSE:PSQH opened at $2.19 on Wednesday. The company has a debt-to-equity ratio of 1.27, a quick ratio of 2.73 and a current ratio of 2.97. The stock’s 50-day simple moving average is $1.93 and its 200 day simple moving average is $2.05. The company has a market cap of $100.31 million and a P/E ratio of -1.62. PSQ Holdings, Inc. has a 52-week low of $1.55 and a 52-week high of $7.77.

PSQ (NYSE:PSQH) last released its 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. The business had revenue of $7.08 million for the quarter, compared to the consensus estimate of $9.11 million. PSQ had a negative return on equity of 224.55% and a negative net margin of 169.29%. As a group, sell-side analysts forecast that PSQ Holdings, Inc. will post -1.54 EPS for the current fiscal year.

Wall Street Analyst Weigh In

Several research firms have issued reports on PSQH. Wall Street Zen downgraded PSQ from a “hold” rating to a “sell” rating in a research note on Saturday, August 9th. Weiss Ratings reissued a “sell (e+)” rating on shares of PSQ in a research note on Saturday, September 27th. Two analysts have rated the stock with a Buy rating and one has given a Sell rating to the company’s stock. According to MarketBeat.com, the company has a consensus 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.