Paltalk (NASDAQ:PALT) Releases Quarterly Earnings Results

Paltalk (NASDAQ:PALT) released its earnings results on Tuesday. The company reported ($0.16) earnings per share (EPS) for the quarter, reports. The company had revenue of $2.12 million for the quarter. Paltalk had a negative net margin of 33.40% and a negative return on equity of 16.94%.

Paltalk Stock Performance

Shares of Paltalk stock opened at $1.83 on Friday. The stock has a market capitalization of $16.91 million, a PE ratio of -5.38 and a beta of 0.84. Paltalk has a 52 week low of $1.64 and a 52 week high of $5.50. The stock has a 50 day moving average price of $2.54 and a two-hundred day moving average price of $3.42.

Analysts Set New Price Targets

Separately, Maxim Group reiterated a “hold” rating on shares of Paltalk in a report on Wednesday, August 14th.

Insider Transactions at Paltalk

In other Paltalk news, CEO Jason Katz acquired 25,000 shares of Paltalk stock in a transaction dated Thursday, September 5th. The stock was purchased at an average cost of $2.73 per share, for a total transaction of $68,250.00. Following the completion of the acquisition, the chief executive officer now directly owns 650,912 shares of the company’s stock, valued at $1,776,989.76. This represents a 3.99 % increase in their ownership of the stock. The transaction was disclosed in a legal filing with the SEC, which can be accessed through this link. 18.70% of the stock is owned by insiders.

Hedge Funds Weigh In On Paltalk

Several large investors have recently added to or reduced their stakes in PALT. GSA Capital Partners LLP bought a new stake in Paltalk during the 3rd quarter worth approximately $65,000. Virtu Financial LLC purchased a new position in shares of Paltalk during the first quarter valued at approximately $75,000. Finally, Renaissance Technologies LLC grew its holdings in Paltalk by 11.1% during the second quarter. Renaissance Technologies LLC now owns 25,000 shares of the company’s stock worth $100,000 after buying an additional 2,500 shares in the last quarter. Institutional investors own 3.88% of the company’s stock.

About Paltalk

Paltalk, Inc, together with its subsidiaries, develops communications software and multimedia social applications worldwide. It offers consumer applications, which include Paltalk, Camfrog, and Tinychat for live video chat; and owns and operates Vumber, a telecommunications services provider that enables users to have multiple phone numbers in any area code through which calls can be forwarded to a user’s existing cell phone or land line telephone number.