Yalla Group (NYSE:YALA) Shares Gap Up – What’s Next?

Yalla Group Limited (NYSE:YALA) gapped up prior to trading on Tuesday . The stock had previously closed at $4.32, but opened at $4.50. Yalla Group shares last traded at $4.41, with a volume of 141,463 shares trading hands.

Yalla Group Stock Down 0.2 %

The company has a 50-day moving average of $4.27 and a 200 day moving average of $4.39. The firm has a market capitalization of $683.32 million, a PE ratio of 6.42 and a beta of 1.19.

Yalla Group (NYSE:YALA) last released its 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 22.50% and a net margin of 40.07%. The company had revenue of $81.20 million during the quarter.

Hedge Funds Weigh In On Yalla Group

Several hedge funds and other institutional investors have recently added to or reduced their stakes in the business. EverSource Wealth Advisors LLC raised 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 worth $26,000 after purchasing an additional 5,113 shares during the period. GAMMA Investing LLC raised its holdings in Yalla Group by 145.1% in the 3rd quarter. GAMMA Investing LLC now owns 9,288 shares of the company’s stock worth $42,000 after purchasing an additional 5,498 shares during the period. Blue Trust Inc. raised its holdings in Yalla Group by 36,378.6% in the 2nd quarter. Blue Trust Inc. now owns 10,214 shares of the company’s stock worth $49,000 after purchasing an additional 10,186 shares during the period. Russell Investments Group Ltd. raised its holdings in Yalla Group by 9.0% in the 1st quarter. Russell Investments Group Ltd. now owns 52,028 shares of the company’s stock worth $251,000 after purchasing an additional 4,286 shares during the period. Finally, Robeco Institutional Asset Management B.V. raised its holdings in Yalla Group by 81.9% in the 3rd quarter. Robeco Institutional Asset Management B.V. now owns 131,899 shares of the company’s stock worth $599,000 after purchasing an additional 59,378 shares during the period. 4.73% of the stock is owned by institutional investors.

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.