Yalla Group (NYSE:YALA) Trading 5.7% Higher – Here’s Why

Yalla Group Limited (NYSE:YALA) shares shot up 5.7% during trading on Thursday . The company traded as high as $5.78 and last traded at $5.81. 671,259 shares traded hands during trading, an increase of 183% from the average session volume of 237,556 shares. The stock had previously closed at $5.49.

Yalla Group Stock Down 3.8 %

The firm has a 50 day moving average price of $4.35 and a 200 day moving average price of $4.28. The stock has a market capitalization of $858.51 million, a PE ratio of 7.42 and a beta of 1.19.

Yalla Group (NYSE:YALA) last issued its quarterly earnings data on Monday, March 10th. The company reported $0.18 earnings per share for the quarter. Yalla Group had a return on equity of 21.80% and a net margin of 40.72%. The business had revenue of $90.83 million for the quarter. During the same quarter last year, the business posted $0.17 earnings per share.

Institutional Investors Weigh In On Yalla Group

Several institutional investors and hedge funds have recently added to or reduced their stakes in YALA. Millennium Management LLC grew its holdings in shares of Yalla Group by 57.9% in the fourth quarter. Millennium Management LLC now owns 585,284 shares of the company’s stock valued at $2,376,000 after acquiring an additional 214,625 shares in the last quarter. State Street Corp grew its stake in Yalla Group by 1.5% in the 3rd quarter. State Street Corp now owns 538,689 shares of the company’s stock valued at $2,446,000 after purchasing an additional 7,924 shares during the period. BNP Paribas Financial Markets purchased a new stake in shares of Yalla Group during the 4th quarter valued at $1,838,000. Marshall Wace LLP bought a new stake in shares of Yalla Group during the 4th quarter worth $900,000. Finally, Robeco Institutional Asset Management B.V. boosted its holdings in shares of Yalla Group by 27.4% in the 4th quarter. Robeco Institutional Asset Management B.V. now owns 168,065 shares of the company’s stock worth $682,000 after buying an additional 36,166 shares during the last quarter. Hedge funds and other institutional investors own 4.73% of the company’s stock.

Yalla Group Company Profile

Yalla Group Limited operates a social networking and gaming platform primarily in the Middle East and North Africa region. It provides mobile applications, including Yalla, a voice-centric group chat platform; and Yalla Ludo, a casual gaming application. The company’s platform offers group chatting and games services; and sells virtual items, as well as provides upgrade services.