Paltalk (NASDAQ:PALT) Announces Quarterly Earnings Results

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

Paltalk Stock Down 0.5 %

NASDAQ PALT opened at $1.83 on Friday. The company has a market capitalization of $16.91 million, a price-to-earnings ratio of -5.38 and a beta of 0.84. Paltalk has a twelve month low of $1.64 and a twelve month high of $5.50. The stock has a fifty day simple moving average of $2.54 and a 200 day simple moving average of $3.42.

Wall Street Analysts Forecast Growth

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

Insiders Place Their Bets

In other news, CEO Jason Katz purchased 25,000 shares of the stock in a transaction on Thursday, September 5th. The stock was purchased at an average price of $2.73 per share, for a total transaction of $68,250.00. Following the acquisition, the chief executive officer now owns 650,912 shares in the company, valued at $1,776,989.76. This trade represents a 3.99 % increase in their ownership of the stock. The transaction was disclosed in a filing with the Securities & Exchange Commission, which is available at the SEC website. Company insiders own 18.70% of the company’s stock.

Institutional Investors Weigh In On Paltalk

A number of institutional investors have recently modified their holdings of the company. GSA Capital Partners LLP bought a new position in Paltalk during the third quarter worth $65,000. Virtu Financial LLC bought a new position in shares of Paltalk in the 1st quarter worth about $75,000. Finally, Renaissance Technologies LLC lifted its stake in shares of Paltalk by 11.1% in the 2nd quarter. Renaissance Technologies LLC now owns 25,000 shares of the company’s stock valued at $100,000 after purchasing an additional 2,500 shares during the period. 3.88% of the stock is owned by 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.