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

Yalla Group Limited (NYSE:YALA) shares saw an uptick in trading volume on Wednesday . 87,190 shares traded hands during trading, a decline of 28% from the previous session’s volume of 121,236 shares.The stock last traded at $3.95 and had previously closed at $4.04.

Yalla Group Stock Down 1.7 %

The company has a market capitalization of $629.42 million, a P/E ratio of 5.44 and a beta of 1.20. The company’s fifty day moving average price is $4.23 and its 200 day moving average price is $4.25.

Institutional Inflows and Outflows

A number of hedge funds and other institutional investors have recently bought and sold shares of the stock. Acadian Asset Management LLC increased its stake in shares of Yalla Group by 16.4% in the 2nd quarter. Acadian Asset Management LLC now owns 1,894,487 shares of the company’s stock valued at $8,592,000 after purchasing an additional 267,399 shares during the last quarter. State Street Corp boosted its stake 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 buying an additional 7,924 shares in the last quarter. GSA Capital Partners LLP grew its position in Yalla Group by 19.4% in the third quarter. GSA Capital Partners LLP now owns 300,462 shares of the company’s stock valued at $1,364,000 after acquiring an additional 48,831 shares during the last quarter. Robeco Institutional Asset Management B.V. raised its stake in Yalla Group by 81.9% during the third quarter. Robeco Institutional Asset Management B.V. now owns 131,899 shares of the company’s stock worth $599,000 after acquiring an additional 59,378 shares in the last quarter. Finally, DGS Capital Management LLC lifted its holdings in shares of Yalla Group by 109.0% in the third quarter. DGS Capital Management LLC now owns 76,785 shares of the company’s stock worth $349,000 after acquiring an additional 40,050 shares during the last quarter. Institutional investors and hedge funds own 4.73% of the company’s stock.

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.