Yalla Group (NYSE:YALA) Reaches New 52-Week High – Here’s What Happened

Yalla Group Limited (NYSE:YALA) hit a new 52-week high during mid-day trading on Wednesday . The company traded as high as $5.41 and last traded at $5.36, with a volume of 47111 shares changing hands. The stock had previously closed at $5.38.

Yalla Group Stock Performance

The firm has a market cap of $858.51 million, a P/E ratio of 7.43 and a beta of 1.19. The business’s fifty day moving average is $4.26 and its 200-day moving average is $4.25.

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

Institutional Investors Weigh In On Yalla Group

Several institutional investors and hedge funds have recently made changes to their positions in the stock. Public Employees Retirement System of Ohio increased its position in Yalla Group by 123.9% during the 4th quarter. Public Employees Retirement System of Ohio now owns 26,173 shares of the company’s stock valued at $106,000 after purchasing an additional 14,483 shares during the period. Vident Advisory LLC increased its position in shares of 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 period. Millennium Management LLC increased its position in shares of 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 period. Cubist Systematic Strategies LLC bought 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 in the fourth quarter valued at $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.