Yalla Group (NYSE:YALA) Sees Strong Trading Volume – Here’s Why

Shares of Yalla Group Limited (NYSE:YALA) saw unusually-strong trading volume on Monday . Approximately 237,555 shares were traded during 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 business has a fifty day moving average of $4.08 and a two-hundred day moving average of $4.20. The firm has a market capitalization of $780.82 million, a price-to-earnings ratio of 6.75 and a beta of 1.19.

Yalla Group (NYSE:YALA) last issued its quarterly earnings data 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 previous year, the company earned $0.17 earnings per share.

Institutional Inflows and Outflows

A number of institutional investors and hedge funds have recently added to or reduced their stakes in the company. QRG Capital Management Inc. raised its holdings in Yalla Group by 14.7% in the 4th quarter. QRG Capital Management Inc. now owns 23,400 shares of the company’s stock valued at $95,000 after acquiring an additional 2,996 shares in the last quarter. State Street Corp increased its stake in Yalla Group by 1.5% in the third quarter. State Street Corp now owns 538,689 shares of the company’s stock valued at $2,446,000 after acquiring an additional 7,924 shares during the last quarter. Blue Trust Inc. boosted its holdings in shares of Yalla Group by 29.7% in 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. Public Employees Retirement System of Ohio acquired a new stake in Yalla Group in the third quarter valued at about $53,000. Finally, Jump Financial LLC increased its position 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 purchasing an additional 12,571 shares in the last quarter. 4.73% of the stock is owned by institutional investors and hedge funds.

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.