Yalla Group (NYSE:YALA) Sees Unusually-High Trading Volume – Still a Buy?

Shares of Yalla Group Limited (NYSE:YALA) saw unusually-high trading volume on Friday . Approximately 279,156 shares changed hands during trading, an increase of 12% from the previous session’s volume of 250,013 shares.The stock last traded at $4.20 and had previously closed at $4.23.

Yalla Group Price Performance

The stock has a 50 day simple moving average of $4.31 and a 200-day simple moving average of $4.36. The firm has a market cap of $678.56 million, a PE ratio of 5.86 and a beta of 1.19.

Institutional Trading of Yalla Group

A number of institutional investors and hedge funds have recently bought and sold shares of YALA. Public Employees Retirement System of Ohio bought a new stake in shares of Yalla Group in the 3rd quarter worth $53,000. State Street Corp lifted its holdings 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 period. Walleye Capital LLC purchased a new position in Yalla Group in the third quarter worth about $68,000. GSA Capital Partners LLP grew its stake in shares of Yalla Group by 19.4% during the 3rd quarter. GSA Capital Partners LLP now owns 300,462 shares of the company’s stock valued at $1,364,000 after purchasing an additional 48,831 shares during the period. Finally, Robeco Institutional Asset Management B.V. increased its position in shares of Yalla Group by 81.9% during the 3rd quarter. Robeco Institutional Asset Management B.V. now owns 131,899 shares of the company’s stock valued at $599,000 after purchasing an additional 59,378 shares during the last quarter. 4.73% of the stock is currently owned by institutional investors.

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.