Paltalk (NASDAQ:PALT) Posts Earnings Results

Paltalk (NASDAQ:PALT) posted its quarterly earnings data on Tuesday. The company reported ($0.16) earnings per share (EPS) for the quarter, reports. The business had revenue of $2.12 million for the quarter. Paltalk had a negative return on equity of 16.46% and a negative net margin of 33.40%.

Paltalk Stock Performance

Paltalk stock opened at $1.84 on Thursday. The company has a market cap of $16.96 million, a price-to-earnings ratio of -5.41 and a beta of 0.84. Paltalk has a 1 year low of $1.64 and a 1 year high of $5.50. The firm has a 50 day moving average price of $2.55 and a 200 day moving average price of $3.43.

Analysts Set New Price Targets

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

Insiders Place Their Bets

In related news, CEO Jason Katz acquired 25,000 shares of the stock in a transaction dated Thursday, September 5th. The stock was bought at an average cost of $2.73 per share, with a total value of $68,250.00. Following the purchase, the chief executive officer now directly owns 650,912 shares of the company’s stock, valued at approximately $1,776,989.76. This represents a 0.00 % increase in their ownership of the stock. The transaction was disclosed in a filing with the Securities & Exchange Commission, which is available at this link. 18.70% of the stock is currently owned by insiders.

Hedge Funds Weigh In On Paltalk

Hedge funds and other institutional investors have recently modified their holdings of the company. Virtu Financial LLC acquired a new stake in Paltalk during the 1st quarter worth approximately $75,000. Renaissance Technologies LLC lifted its position in Paltalk by 11.1% during the second quarter. Renaissance Technologies LLC now owns 25,000 shares of the company’s stock valued at $100,000 after buying an additional 2,500 shares in the last quarter. Finally, GSA Capital Partners LLP purchased a new stake in Paltalk during the third quarter worth approximately $65,000. 3.88% of the stock is owned by institutional investors and hedge funds.

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.