Yalla Group (NYSE:YALA) Sets New 1-Year High – What’s Next?

Yalla Group Limited (NYSE:YALA) shares reached a new 52-week high on Tuesday . The stock traded as high as $4.97 and last traded at $4.95, with a volume of 679361 shares changing hands. The stock had previously closed at $4.68.

Yalla Group Price Performance

The stock’s 50-day moving average is $4.10 and its two-hundred day moving average is $4.20. The company has a market cap of $784.00 million, a P/E ratio of 6.77 and a beta of 1.19.

Yalla Group (NYSE:YALA) last released its quarterly earnings results on Monday, March 10th. The company reported $0.18 earnings per share for the quarter. Yalla Group had a return on equity of 21.80% and a net margin of 40.72%. The firm had revenue of $90.83 million for the quarter. During the same period in the previous year, the company earned $0.17 earnings per share.

Institutional Inflows and Outflows

Several institutional investors and hedge funds have recently bought and sold shares of YALA. Millennium Management LLC boosted its stake in shares of Yalla Group by 57.9% during the 4th quarter. Millennium Management LLC now owns 585,284 shares of the company’s stock worth $2,376,000 after acquiring an additional 214,625 shares during the last quarter. State Street Corp raised its holdings in Yalla Group by 1.5% in the 3rd quarter. State Street Corp now owns 538,689 shares of the company’s stock worth $2,446,000 after purchasing an additional 7,924 shares during the period. BNP Paribas Financial Markets purchased a new position in Yalla Group during the fourth quarter valued at $1,838,000. Marshall Wace LLP purchased a new position in Yalla Group during the fourth quarter valued at $900,000. Finally, Robeco Institutional Asset Management B.V. increased its position in 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 buying an additional 36,166 shares in the last quarter. 4.73% of the stock is owned by hedge funds and other 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.