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

Paltalk, Inc. (NASDAQ:PALT) CEO Jason Katz bought 25,000 shares of the company’s stock in a transaction that occurred on Thursday, September 5th. The shares were acquired at an average cost of $2.73 per share, with a total value of $68,250.00. Following the transaction, the chief executive officer now owns 650,912 shares in the company, valued at approximately $1,776,989.76. The transaction was disclosed in a document filed with the Securities & Exchange Commission, which can be accessed through the SEC website.

Paltalk Stock Up 3.7 %

Shares of NASDAQ:PALT opened at $2.82 on Friday. Paltalk, Inc. has a 52-week low of $1.53 and a 52-week high of $5.50. The company has a 50 day moving average of $4.14 and a two-hundred day moving average of $3.89. The company has a market capitalization of $26.01 million, a price-to-earnings ratio of -30.22 and a beta of 0.76.

Paltalk (NASDAQ:PALT) last issued its quarterly earnings data on Tuesday, August 13th. The company reported ($0.10) earnings per share (EPS) 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 firm had revenue of $2.22 million during the quarter.

Wall Street Analysts Forecast Growth

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

Institutional Trading of Paltalk

An institutional investor recently raised its position in Paltalk stock. Renaissance Technologies LLC grew its holdings in shares of Paltalk, Inc. (NASDAQ:PALT) by 11.1% in the 2nd quarter, according to the company in its most recent 13F filing with the Securities and Exchange Commission. The fund owned 25,000 shares of the company’s stock after buying an additional 2,500 shares during the quarter. Renaissance Technologies LLC owned 0.27% of Paltalk worth $100,000 as of its most recent SEC filing. Hedge funds and other institutional investors 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.