Yalla Group (NYSE:YALA) Sees Large Volume Increase – Here’s Why

Yalla Group Limited (NYSE:YALA) shares saw unusually-strong trading volume on Monday . Approximately 228,904 shares traded hands during mid-day trading, a decline of 1% from the previous session’s volume of 231,370 shares.The stock last traded at $5.32 and had previously closed at $5.14.

Yalla Group Trading Up 1.1 %

The stock has a market cap of $852.96 million, a price-to-earnings ratio of 7.37 and a beta of 1.19. The firm’s 50 day moving average is $4.26 and its two-hundred day moving average is $4.25.

Yalla Group (NYSE:YALA) last announced its earnings results on Monday, March 10th. The company reported $0.18 earnings per share (EPS) for the quarter. The firm 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 quarter last year, the business posted $0.17 EPS.

Hedge Funds Weigh In On Yalla Group

Institutional investors have recently added to or reduced their stakes in the business. Millennium Management LLC increased 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 valued at $2,376,000 after acquiring an additional 214,625 shares during the last quarter. State Street Corp increased its position 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 purchased a new position in Yalla Group during the fourth quarter worth approximately $1,838,000. Marshall Wace LLP acquired a new position in shares of Yalla Group in the 4th quarter valued at $900,000. Finally, Robeco Institutional Asset Management B.V. grew its stake in shares of 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 valued at $682,000 after buying an additional 36,166 shares during the period. 4.73% of the stock is currently 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.