Paltalk (NASDAQ:PALT) Announces Quarterly Earnings Results

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

Paltalk Stock Down 7.1 %

NASDAQ:PALT opened at $1.84 on Thursday. Paltalk has a fifty-two week low of $1.64 and a fifty-two week high of $5.50. The stock has a market cap of $16.96 million, a PE ratio of -5.41 and a beta of 0.84. The firm’s fifty day simple moving average is $2.55 and its 200-day simple moving average is $3.43.

Analyst Ratings Changes

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

Insider Transactions at Paltalk

In other Paltalk news, CEO Jason Katz acquired 25,000 shares of the stock in a transaction that occurred on Thursday, September 5th. The shares were purchased 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 owns 650,912 shares in the company, valued at approximately $1,776,989.76. The trade was a 0.00 % increase in their ownership of the stock. The purchase was disclosed in a legal filing with the SEC, which is available through the SEC website. Corporate insiders own 18.70% of the company’s stock.

Institutional Investors Weigh In On Paltalk

A number of large investors have recently bought and sold shares of PALT. Virtu Financial LLC purchased a new stake in shares of Paltalk in the first quarter valued at $75,000. GSA Capital Partners LLP acquired a new position in Paltalk in the 3rd quarter valued at about $65,000. Finally, Renaissance Technologies LLC lifted its holdings in 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 in the last quarter. Institutional investors and hedge funds own 3.88% of the company’s stock.

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.