Yalla Group (NYSE:YALA) Sees Large Volume Increase – Still a Buy?

Yalla Group Limited (NYSE:YALA) shares saw unusually-strong trading volume on Friday . Approximately 379,504 shares traded hands during trading, an increase of 147% from the previous session’s volume of 153,472 shares.The stock last traded at $4.26 and had previously closed at $4.34.

Yalla Group Trading Down 2.4 %

The stock’s 50-day moving average is $4.09 and its 200-day moving average is $4.17. The company has a market cap of $671.26 million, a price-to-earnings ratio of 5.80 and a beta of 1.19.

Institutional Inflows and Outflows

A number of institutional investors have recently modified their holdings of YALA. Public Employees Retirement System of Ohio raised its holdings in Yalla Group by 123.9% during the fourth 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 last quarter. Vident Advisory LLC raised its holdings in 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 buying an additional 100,872 shares during the last quarter. Millennium Management LLC raised its holdings in 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 buying an additional 214,625 shares during the last quarter. Cubist Systematic Strategies LLC acquired a new position in Yalla Group during the fourth quarter worth $99,000. Finally, BNP Paribas Financial Markets acquired a new position in Yalla Group during the fourth quarter worth $1,838,000. Institutional investors and hedge funds own 4.73% of the company’s stock.

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.