Yalla Group (NYSE:YALA) Issues Quarterly Earnings Results

Yalla Group (NYSE:YALA) released its earnings results on Monday. The company reported $0.18 earnings per share for the quarter, Zacks reports. Yalla Group had a return on equity of 18.03% and a net margin of 42.03%.

Yalla Group Stock Performance

Shares of YALA traded down $0.15 during mid-day trading on Monday, reaching $5.33. The company had a trading volume of 762,519 shares, compared to its average volume of 298,464. The company has a market capitalization of $815.28 million, a price-to-earnings ratio of 6.75 and a beta of 0.47. The company’s 50 day simple moving average is $5.38 and its 200 day simple moving average is $6.20. Yalla Group has a 1-year low of $5.01 and a 1-year high of $8.10.

Institutional Inflows and Outflows

A number of large investors have recently added to or reduced their stakes in the business. EverSource Wealth Advisors LLC boosted its position in Yalla Group by 73.7% during the 2nd quarter. EverSource Wealth Advisors LLC now owns 6,481 shares of the company’s stock worth $44,000 after buying an additional 2,749 shares during the period. Verition Fund Management LLC acquired a new position in Yalla Group in the 4th quarter valued at approximately $73,000. Cresset Asset Management LLC bought a new position in shares of Yalla Group during the third quarter valued at $82,000. Jump Financial LLC acquired a new position in shares of Yalla Group during the fourth quarter worth $94,000. Finally, Envestnet Asset Management Inc. acquired a new position in shares of Yalla Group during the third quarter worth $100,000. Institutional investors own 4.73% of the company’s stock.

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.