Yalla Group (NYSE:YALA) Shares Up 5.7% – What’s Next?

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

Yalla Group Trading Up 3.7 %

The company has a fifty day moving average of $4.29 and a 200-day moving average of $4.26. The company has a market capitalization of $902.90 million, a price-to-earnings ratio of 7.86 and a beta of 1.19.

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

Institutional Investors Weigh In On Yalla Group

Hedge funds and other institutional investors have recently made changes to their positions in the stock. Public Employees Retirement System of Ohio acquired a new stake in shares of Yalla Group in the 3rd quarter worth $53,000. Walleye Capital LLC acquired a new stake in Yalla Group during the third quarter worth about $68,000. Dynamic Technology Lab Private Ltd purchased a new position in Yalla Group during the fourth quarter worth about $74,000. GAMMA Investing LLC grew its stake in shares of Yalla Group by 150.3% in the 4th 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 period. Finally, QRG Capital Management Inc. increased its holdings in shares of Yalla Group by 14.7% during the 4th quarter. QRG Capital Management Inc. now owns 23,400 shares of the company’s stock worth $95,000 after buying an additional 2,996 shares during the last quarter. Institutional investors and hedge funds 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.