Yalla Group (NYSE:YALA) Sees Strong Trading Volume – Still a Buy?

Shares of Yalla Group Limited (NYSE:YALA) saw an uptick in trading volume on Monday . 237,555 shares were traded during mid-day 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 Stock Performance

The stock has a 50-day simple moving average of $4.08 and a 200 day simple moving average of $4.20. The stock has a market capitalization of $780.82 million, a P/E ratio of 6.75 and a beta of 1.19.

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

Institutional Investors Weigh In On Yalla Group

Several hedge funds have recently bought and sold shares of YALA. BNP Paribas Financial Markets acquired a new stake in Yalla Group during the 4th quarter worth $1,838,000. Marshall Wace LLP bought a new position in shares of Yalla Group during the 4th quarter valued at about $900,000. Millennium Management LLC grew its position in shares of Yalla Group by 57.9% in the 4th quarter. Millennium Management LLC now owns 585,284 shares of the company’s stock valued at $2,376,000 after purchasing an additional 214,625 shares during the period. Vident Advisory LLC increased its stake in Yalla Group by 180.3% during the 4th quarter. Vident Advisory LLC now owns 156,823 shares of the company’s stock worth $637,000 after purchasing an additional 100,872 shares in the last quarter. Finally, Walleye Capital LLC raised its holdings in Yalla Group by 615.9% during the 4th quarter. Walleye Capital LLC now owns 107,389 shares of the company’s stock worth $436,000 after buying an additional 92,389 shares during the period. 4.73% of the stock is currently owned by institutional investors and hedge funds.

Yalla Group Company Profile

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.