Yalla Group (NYSE:YALA) Trading Up 4.4% – Here’s Why

Yalla Group Limited (NYSE:YALA)’s share price shot up 4.4% during trading on Thursday . The company traded as high as $5.47 and last traded at $5.40. 271,595 shares traded hands during mid-day trading, an increase of 3% from the average session volume of 264,162 shares. The stock had previously closed at $5.17.

Yalla Group Trading Up 3.2 %

The firm has a market capitalization of $845.83 million, a price-to-earnings ratio of 7.31 and a beta of 0.96. The firm has a 50 day moving average price of $4.57 and a two-hundred day moving average price of $4.35.

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

Institutional Investors Weigh In On Yalla Group

Several institutional investors and hedge funds have recently modified their holdings of the stock. QRG Capital Management Inc. lifted its position in 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 acquiring an additional 2,996 shares in the last quarter. State Street Corp lifted its position in shares of Yalla Group by 1.5% during the third quarter. State Street Corp now owns 538,689 shares of the company’s stock worth $2,446,000 after purchasing an additional 7,924 shares in the last quarter. Blue Trust Inc. boosted its stake in shares of Yalla Group by 29.7% in the fourth quarter. Blue Trust Inc. now owns 40,929 shares of the company’s stock valued at $166,000 after purchasing an additional 9,366 shares during the period. Public Employees Retirement System of Ohio acquired a new stake in Yalla Group during the 3rd quarter valued at $53,000. Finally, Jump Financial LLC increased its stake in Yalla Group by 36.3% during the 4th quarter. Jump Financial LLC now owns 47,200 shares of the company’s stock worth $192,000 after buying an additional 12,571 shares during the period. Hedge funds and other institutional investors own 4.73% of the company’s stock.

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.