Yalla Group (NYSE:YALA) Reaches New 52-Week High – Here’s Why

Yalla Group Limited (NYSE:YALA)’s share price hit a new 52-week high during trading on Tuesday . The stock traded as high as $4.97 and last traded at $4.95, with a volume of 679361 shares changing hands. The stock had previously closed at $4.68.

Yalla Group Stock Performance

The stock’s 50-day moving average price is $4.10 and its two-hundred day moving average price is $4.20. The stock has a market capitalization of $784.00 million, a PE ratio of 6.77 and a beta of 1.19.

Yalla Group (NYSE:YALA) last announced its quarterly earnings data 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 business had revenue of $90.83 million for the quarter. During the same quarter last year, the company posted $0.17 EPS.

Institutional Investors Weigh In On Yalla Group

Institutional investors have recently modified their holdings of the stock. QRG Capital Management Inc. raised its position in shares of Yalla Group by 14.7% in the 4th quarter. QRG Capital Management Inc. now owns 23,400 shares of the company’s stock worth $95,000 after purchasing an additional 2,996 shares during the last quarter. Blue Trust Inc. increased its stake in Yalla Group by 29.7% during the 4th 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 in the last quarter. State Street Corp raised its holdings in Yalla Group by 1.5% in the third quarter. State Street Corp now owns 538,689 shares of the company’s stock worth $2,446,000 after buying an additional 7,924 shares during the last quarter. Robeco Institutional Asset Management B.V. lifted its stake in shares of Yalla Group by 27.4% in the fourth quarter. Robeco Institutional Asset Management B.V. now owns 168,065 shares of the company’s stock worth $682,000 after buying an additional 36,166 shares in the last quarter. Finally, GAMMA Investing LLC grew its holdings 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. 4.73% of the stock is owned by hedge funds and other institutional investors.

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.