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

Yalla Group Limited (NYSE:YALA) saw an uptick in trading volume on Thursday . 263,910 shares were traded during mid-day trading, an increase of 6% from the previous session’s volume of 249,703 shares.The stock last traded at $4.37 and had previously closed at $4.49.

Yalla Group Trading Down 4.0 %

The business has a 50 day moving average of $4.28 and a 200-day moving average of $4.38. The stock has a market cap of $683.31 million, a PE ratio of 6.14 and a beta of 1.19.

Yalla Group (NYSE:YALA) last issued its quarterly earnings results on Monday, August 12th. The company reported $0.17 earnings per share for the quarter. Yalla Group had a return on equity of 22.45% and a net margin of 40.72%. The company had revenue of $81.20 million for the quarter.

Institutional Trading of Yalla Group

A number of institutional investors and hedge funds have recently made changes to their positions in YALA. EverSource Wealth Advisors LLC increased its holdings in Yalla Group by 1,104.3% in the 1st quarter. EverSource Wealth Advisors LLC now owns 5,576 shares of the company’s stock valued at $26,000 after purchasing an additional 5,113 shares in the last quarter. GAMMA Investing LLC boosted its position in Yalla Group by 145.1% in the 3rd quarter. GAMMA Investing LLC now owns 9,288 shares of the company’s stock valued at $42,000 after buying an additional 5,498 shares during the last quarter. Blue Trust Inc. boosted its position in Yalla Group by 36,378.6% in the 2nd quarter. Blue Trust Inc. now owns 10,214 shares of the company’s stock valued at $49,000 after buying an additional 10,186 shares during the last quarter. Walleye Capital LLC purchased a new position in Yalla Group in the 3rd quarter valued at about $68,000. Finally, Russell Investments Group Ltd. boosted its position in Yalla Group by 9.0% in the 1st quarter. Russell Investments Group Ltd. now owns 52,028 shares of the company’s stock valued at $251,000 after buying an additional 4,286 shares during the last quarter. 4.73% of the stock is currently owned by institutional investors and hedge funds.

Yalla Group Company Profile

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.