Yalla Group (NYSE:YALA) Shares Gap Up – Time to Buy?

Yalla Group Limited (NYSE:YALA) gapped up prior to trading on Friday . The stock had previously closed at $5.63, but opened at $5.78. Yalla Group shares last traded at $5.70, with a volume of 148,037 shares changing hands.

Yalla Group Price Performance

The firm has a market capitalization of $887.05 million, a P/E ratio of 7.66 and a beta of 1.19. The firm’s 50 day moving average is $4.32 and its two-hundred day moving average is $4.27.

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 return on equity of 21.80% and a net margin of 40.72%. During the same period in the previous year, the business earned $0.17 earnings per share.

Hedge Funds Weigh In On Yalla Group

Several institutional investors and hedge funds have recently modified their holdings of YALA. Public Employees Retirement System of Ohio boosted its holdings in shares of Yalla Group by 123.9% during the 4th quarter. Public Employees Retirement System of Ohio now owns 26,173 shares of the company’s stock worth $106,000 after buying an additional 14,483 shares during the period. Vident Advisory LLC boosted its holdings in shares of Yalla Group by 180.3% during the fourth quarter. Vident Advisory LLC now owns 156,823 shares of the company’s stock worth $637,000 after acquiring an additional 100,872 shares during the period. Millennium Management LLC boosted its holdings in shares of Yalla Group by 57.9% during the fourth quarter. Millennium Management LLC now owns 585,284 shares of the company’s stock worth $2,376,000 after acquiring an additional 214,625 shares during the period. Cubist Systematic Strategies LLC acquired a new position in shares of Yalla Group in the fourth quarter valued at approximately $99,000. Finally, BNP Paribas Financial Markets acquired a new stake in Yalla Group during the 4th quarter worth approximately $1,838,000. 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.