Yalla Group (NYSE:YALA) Sees Unusually-High Trading Volume

Yalla Group Limited (NYSE:YALA) shares saw strong trading volume on Wednesday . 286,258 shares traded hands during mid-day trading, an increase of 12% from the previous session’s volume of 254,974 shares.The stock last traded at $3.96 and had previously closed at $3.95.

Yalla Group Stock Performance

The stock’s fifty day moving average price is $4.19 and its 200-day moving average price is $4.60. The company has a market capitalization of $646.84 million, a P/E ratio of 5.86 and a beta of 1.16.

Yalla Group (NYSE:YALA) last announced its earnings results on Monday, August 12th. The company reported $0.17 EPS for the quarter. The business had revenue of $81.20 million during the quarter. Yalla Group had a net margin of 40.07% and a return on equity of 22.50%.

Institutional Investors Weigh In On Yalla Group

A number of hedge funds and other institutional investors have recently modified their holdings of YALA. Acadian Asset Management LLC grew its position in shares of Yalla Group by 16.4% during the 2nd quarter. Acadian Asset Management LLC now owns 1,894,487 shares of the company’s stock worth $8,592,000 after purchasing an additional 267,399 shares in the last quarter. Blue Trust Inc. grew its stake in Yalla Group by 36,378.6% during the second quarter. Blue Trust Inc. now owns 10,214 shares of the company’s stock worth $49,000 after buying an additional 10,186 shares in the last quarter. EverSource Wealth Advisors LLC lifted its holdings in shares of Yalla Group by 1,104.3% during the 1st quarter. EverSource Wealth Advisors LLC now owns 5,576 shares of the company’s stock worth $26,000 after acquiring an additional 5,113 shares during the period. Russell Investments Group Ltd. increased its stake in Yalla Group by 9.0% in the first quarter. Russell Investments Group Ltd. now owns 52,028 shares of the company’s stock valued at $251,000 after acquiring an additional 4,286 shares during the last quarter. Finally, GSA Capital Partners LLP lifted its stake in Yalla Group by 328.4% during the first quarter. GSA Capital Partners LLP now owns 150,847 shares of the company’s stock worth $726,000 after purchasing an additional 115,632 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.