Paltalk, Inc. (NASDAQ:PALT) CEO Purchases $68,250.00 in Stock

Paltalk, Inc. (NASDAQ:PALT) CEO Jason Katz purchased 25,000 shares of the firm’s stock in a transaction on Thursday, September 5th. The stock was acquired at an average price of $2.73 per share, for a total transaction of $68,250.00. Following the transaction, the chief executive officer now owns 650,912 shares of the company’s stock, valued at approximately $1,776,989.76. The transaction was disclosed in a filing with the SEC, which can be accessed through this hyperlink.

Paltalk Trading Up 8.8 %

Shares of PALT opened at $2.96 on Friday. Paltalk, Inc. has a one year low of $1.53 and a one year high of $5.50. The company has a 50-day moving average of $4.12 and a two-hundred day moving average of $3.88.

Paltalk (NASDAQ:PALT) last posted its quarterly earnings data on Tuesday, August 13th. The company reported ($0.10) earnings per share for the quarter, missing the consensus estimate of ($0.08) by ($0.02). The firm had revenue of $2.22 million for the quarter. Paltalk had a negative return on equity of 9.58% and a negative net margin of 18.39%.

Wall Street Analysts Forecast Growth

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

Institutional Investors Weigh In On Paltalk

An institutional investor recently raised its position in Paltalk stock. Renaissance Technologies LLC increased its stake in shares of Paltalk, Inc. (NASDAQ:PALT) by 11.1% in the 2nd quarter, according to the company in its most recent Form 13F filing with the SEC. The firm owned 25,000 shares of the company’s stock after purchasing an additional 2,500 shares during the quarter. Renaissance Technologies LLC owned approximately 0.27% of Paltalk worth $100,000 as of its most recent filing with the SEC. 3.88% of the stock is owned by hedge funds and other institutional investors.

Paltalk Company Profile

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.