Yalla Group (NYSE:YALA) Sees Unusually-High Trading Volume – Here’s What Happened

Shares of Yalla Group Limited (NYSE:YALA) saw unusually-strong trading volume on Monday . Approximately 237,555 shares changed hands during trading, an increase of 7% from the previous session’s volume of 222,902 shares.The stock last traded at $4.86 and had previously closed at $4.68.

Yalla Group Price Performance

The stock has a market cap of $836.31 million, a P/E ratio of 7.23 and a beta of 1.19. The company has a fifty day moving average price of $4.12 and a 200 day moving average price of $4.21.

Yalla Group (NYSE:YALA) last released its quarterly earnings data on Monday, March 10th. The company reported $0.18 EPS for the quarter. The firm had revenue of $90.83 million during the quarter. Yalla Group had a return on equity of 21.80% and a net margin of 40.72%. During the same quarter in the prior year, the firm earned $0.17 EPS.

Institutional Inflows and Outflows

Hedge funds have recently modified their holdings of the stock. Public Employees Retirement System of Ohio purchased a new position in shares of Yalla Group during the third quarter valued at approximately $53,000. Walleye Capital LLC purchased a new position in shares of Yalla Group during the third quarter valued at approximately $68,000. Dynamic Technology Lab Private Ltd purchased a new position in shares of Yalla Group during the fourth quarter valued at approximately $74,000. GAMMA Investing LLC boosted its position in shares of Yalla Group by 150.3% during the fourth quarter. GAMMA Investing LLC now owns 23,248 shares of the company’s stock valued at $94,000 after buying an additional 13,960 shares during the last quarter. Finally, QRG Capital Management Inc. boosted its position in shares of Yalla Group by 14.7% during the fourth quarter. QRG Capital Management Inc. now owns 23,400 shares of the company’s stock valued at $95,000 after buying an additional 2,996 shares during the last quarter. Hedge funds and other institutional investors own 4.73% of the company’s stock.

About Yalla Group

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.