Yalla Group (NYSE:YALA) to Buyback $150.00 million in Outstanding Stock

Yalla Group (NYSE:YALA) declared that its Board of Directors has approved a share buyback program on Monday, March 9th, RTT News reports. The company plans to buyback $150.00 million in shares. This buyback authorization authorizes the company to repurchase up to 13.6% of its stock through open market purchases. Stock buyback programs are generally an indication that the company’s board of directors believes its shares are undervalued.

Analyst Ratings Changes

Separately, Weiss Ratings reiterated a “hold (c+)” rating on shares of Yalla Group in a research note on Wednesday, January 21st. One equities research analyst has rated the stock with a Hold rating, Based on data from MarketBeat, the company has a consensus rating of “Hold”.

Yalla Group Trading Up 0.7%

YALA opened at $6.57 on Thursday. The business’s 50 day moving average is $7.02 and its 200-day moving average is $7.20. The stock has a market cap of $1.04 billion, a PE ratio of 7.91 and a beta of 0.43. Yalla Group has a twelve month low of $4.21 and a twelve month high of $9.29.

Yalla Group (NYSE:YALA) last issued its quarterly earnings data on Tuesday, March 10th. The company reported $0.21 earnings per share (EPS) for the quarter. The business had revenue of $83.86 million during the quarter. Yalla Group had a return on equity of 20.02% and a net margin of 43.82%.

About Yalla Group

Yalla Group (NYSE:YALA) operates a voice-centric social networking and entertainment platform designed to connect users through live audio chat rooms, interactive voice channels and mobile gaming. Its core product, the Yalla app, allows participants in the Middle East and North Africa (MENA) region to join real-time voice discussion groups, host audio shows and send virtual gifts. Through the PokerBROS brand, the company offers a mobile-first social poker platform featuring Texas Hold’em, Chinese Poker and other variants, enabling casual and competitive gaming among a growing user base.

Founded in 2016 and incorporated in the Cayman Islands, Yalla Group established its headquarters in Riyadh with additional offices in Dubai and Asia.