Yalla Group (NYSE:YALA) Stock Price Up 5.7% – Time to Buy?

Yalla Group Limited (NYSE:YALA) shot up 5.7% on Thursday . The company traded as high as $5.78 and last traded at $5.81. 671,259 shares changed hands during trading, an increase of 183% from the average session volume of 237,556 shares. The stock had previously closed at $5.49.

Yalla Group Trading Up 3.7 %

The stock has a market capitalization of $902.90 million, a PE ratio of 7.86 and a beta of 1.19. The firm’s fifty day moving average is $4.29 and its 200-day moving average is $4.26.

Yalla Group (NYSE:YALA) last issued its quarterly earnings data on Monday, March 10th. The company reported $0.18 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 in the prior year, the company posted $0.17 earnings per share.

Hedge Funds Weigh In On Yalla Group

Hedge funds and other institutional investors have recently bought and sold shares of the company. QRG Capital Management Inc. lifted its position in shares of Yalla Group by 14.7% during the fourth quarter. QRG Capital Management Inc. now owns 23,400 shares of the company’s stock worth $95,000 after purchasing an additional 2,996 shares in the last quarter. Blue Trust Inc. lifted its holdings in Yalla Group by 29.7% during the 4th quarter. Blue Trust Inc. now owns 40,929 shares of the company’s stock worth $166,000 after buying an additional 9,366 shares in the last quarter. State Street Corp boosted its position in Yalla Group by 1.5% in the 3rd 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 during the period. Robeco Institutional Asset Management B.V. grew its stake in shares of Yalla Group by 27.4% in the fourth quarter. Robeco Institutional Asset Management B.V. now owns 168,065 shares of the company’s stock worth $682,000 after acquiring an additional 36,166 shares in the last quarter. Finally, GAMMA Investing LLC increased its position in shares of Yalla Group by 150.3% during the fourth quarter. GAMMA Investing LLC now owns 23,248 shares of the company’s stock worth $94,000 after acquiring an additional 13,960 shares during the period. 4.73% of the stock is currently owned by hedge funds and other 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.