Yalla Group (NYSE:YALA) Sees Unusually-High Trading Volume – Here’s What Happened

Yalla Group Limited (NYSE:YALA) shares saw strong trading volume on Monday . 405,312 shares were traded during mid-day trading, an increase of 67% from the previous session’s volume of 243,395 shares.The stock last traded at $5.04 and had previously closed at $5.41.

Yalla Group Trading Down 4.3 %

The company’s fifty day moving average is $4.35 and its 200-day moving average is $4.28. The firm has a market capitalization of $821.25 million, a P/E ratio of 7.10 and a beta of 1.19.

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

Institutional Inflows and Outflows

A number of large investors have recently modified their holdings of YALA. Millennium Management LLC grew its stake in shares of Yalla Group by 57.9% in the fourth 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 grew 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 worth $2,446,000 after purchasing an additional 7,924 shares during the last quarter. BNP Paribas Financial Markets bought a new position in shares of Yalla Group during the 4th quarter worth about $1,838,000. Marshall Wace LLP acquired a new position in shares of Yalla Group during the fourth quarter valued at about $900,000. Finally, Robeco Institutional Asset Management B.V. lifted 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 valued at $682,000 after buying an additional 36,166 shares during the period. 4.73% of the stock is currently owned by institutional investors and hedge funds.

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.