The Vanguard Group, Inc. recently announced the acquisition of new stake in Paltalk Inc. (NASDAQ:PALT). The institutional investor has increased its shareholding in the Technology company by 40.14% to 0.13 million shares with purchase of 36634.0 shares. This fresh investment now brings its stake to 1.37% valued currently at $0.17 million. In addition, G1 Execution Services LLC raised its holdings by 0.1 million to 0.1 million shares.
With over 0.23 million Paltalk Inc. (PALT) shares trading Monday and a closing price of $2.99 on the day, the dollar volume was approximately $0.69 million. The shares have shown a positive half year performance of 45.85% and its price on 01/23/23 gained nearly 15.44%. Currently, there are 9.72M common shares owned by the public and among those 4.50M shares have been available to trade.
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An analysis of what Wall Street brokers have to say about the expected price targets for this stock gives us this picture: 1 analysts who have offered their price forecasts for PALT have a consensus price objective of $4.00. The analysts have set the share’s price value over the next 12 months at a high of $4.00 and a low of $4.00. But an upside of 25.25% will see the stock hit the forecast high price target while median target price for the stock is $4.00.
Insiders at the company have transacted a total of 4 times over the past 12 months, according to data filed with the U.S. Securities and Exchange Commission (SEC). 4 of these insider trades were purchases, accounting for 40,000 shares. Insider sales of the common stock occurred on 0 occasions, with total insider shares sold totaling 0 shares.
The top 3 mutual fund holders in Paltalk Inc. are Vanguard Total Stock Market Index, Vanguard Extended Market Index Fu, and Fidelity Extended Market Index Fu. Vanguard Total Stock Market Index owns 65588.0 shares of the company’s stock, all valued at over $86576.0. Vanguard Extended Market Index Fu bought 67.0 shares to see its total holdings expand to 62385.0 shares valued at over $82348.0 and representing 0.67% of the shares outstanding. Fidelity Extended Market Index Fu now owns shares totaling to 0.17% of the shares outstanding.
However, the script later moved the day high at 3.1300, up 15.44%. The company’s stock has a 5-day price change of 35.91% and 98.01% over the past three months. PALT shares are trading 126.52% year to date (YTD), with the 12-month market performance up to 11.15% higher. It has a 12-month low price of $1.28 and touched a high of $4.44 over the same period. PALT has an average intraday trading volume of 54.20K shares. The stock is trading above its simple moving averages at the SMA20, SMA50, and SMA200, as the current price level is off by 70.54%, 85.34%, and 62.27% respectively.
Institutional ownership of Paltalk Inc. (NASDAQ: PALT) shares accounts for 7.80% of the company’s 9.72M shares outstanding. Mutual fund holders own 14.89%, while other institutional holders and individual stakeholders account for 6.48% and 1.60% respectively.
It has a market capitalization of $25.50M and a beta (3y monthly) value of 0.02. The earnings-per-share (ttm) stands at -$0.30. Price movements for the stock have been influenced by the stock’s volatility, which stands at 10.06% over the week and 9.21% over the month.
Analysts forecast that Paltalk Inc. (PALT) will achieve an EPS of -$0.07 for the current quarter, -$0.07 for the next quarter and -$0.18 for 2023. The lowest estimate earnings-per-share for the quarter is -$0.07 while analysts give the company a high EPS estimate of -$0.07. Earnings per share for the fiscal year are expected to decrease by -14.80%, and 19.50% over the next financial year.
If you are looking to buy this stock, then you may note that the average analyst recommendation by 1 brokerage firm advisors rate Paltalk Inc. (PALT) as a “Hold” at a consensus score of 3.00. Specifically, 0 Wall Street analysts polled rate the stock as a buy, while 1 of the 1 advise that investors “hold,” and 0 rated it as a “Sell.”
