Paltalk, Inc. (NASDAQ:PALT) CEO Jason Katz Acquires 25,000 Shares of Stock

Paltalk, Inc. (NASDAQ:PALT) CEO Jason Katz bought 25,000 shares of the business’s stock in a transaction on Thursday, September 5th. The stock was bought at an average price of $2.73 per share, for a total transaction of $68,250.00. Following the completion of the purchase, the chief executive officer now directly 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 link.

Paltalk Trading Up 8.8 %

Shares of NASDAQ PALT opened at $2.96 on Friday. Paltalk, Inc. has a 12-month low of $1.53 and a 12-month high of $5.50. The stock has a 50 day simple moving average of $4.12 and a 200-day simple moving average of $3.88.

Paltalk (NASDAQ:PALT) last announced its earnings results 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). Paltalk had a negative net margin of 18.39% and a negative return on equity of 9.58%. The business had revenue of $2.22 million for the quarter.

Institutional Investors Weigh In On Paltalk

A hedge fund recently raised its stake in Paltalk stock. Renaissance Technologies LLC lifted its position in Paltalk, Inc. (NASDAQ:PALT) by 11.1% during the second quarter, according to its most recent 13F filing with the SEC. The institutional investor owned 25,000 shares of the company’s stock after buying an additional 2,500 shares during the period. Renaissance Technologies LLC owned approximately 0.27% of Paltalk worth $100,000 at the end of the most recent reporting period. Institutional investors and hedge funds own 3.88% of the company’s stock.

Analyst Upgrades and Downgrades

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

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.