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

Yalla Group Limited (NYSE:YALA) shares were up 4.4% during trading on Thursday . The company traded as high as $5.47 and last traded at $5.40. Approximately 271,595 shares traded hands during trading, an increase of 3% from the average daily volume of 264,162 shares. The stock had previously closed at $5.17.

Yalla Group Stock Performance

The company has a 50-day moving average price of $4.64 and a 200-day moving average price of $4.36. The company has a market capitalization of $929.54 million, a price-to-earnings ratio of 8.03 and a beta of 0.96.

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

Institutional Investors Weigh In On Yalla Group

Several institutional investors have recently added to or reduced their stakes in the stock. Millennium Management LLC grew its stake in shares of Yalla Group by 57.9% during the 4th 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 in the last quarter. State Street Corp boosted its holdings in 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 during the last quarter. BNP Paribas Financial Markets bought a new position in Yalla Group in the fourth quarter valued at $1,838,000. Marshall Wace LLP acquired a new stake in Yalla Group in the 4th quarter valued at $900,000. Finally, Robeco Institutional Asset Management B.V. lifted its position in Yalla Group by 27.4% during the 4th 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. 4.73% of the stock is owned by institutional investors.

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.