Yalla Group (NYSE:YALA) Sees Large Volume Increase – Here’s What Happened

Yalla Group Limited (NYSE:YALA) shares saw unusually-strong trading volume on Monday . Approximately 218,847 shares traded hands during mid-day trading, an increase of 27% from the previous session’s volume of 171,746 shares.The stock last traded at $4.14 and had previously closed at $4.01.

Yalla Group Trading Up 4.4 %

The stock has a market capitalization of $665.25 million, a price-to-earnings ratio of 5.75 and a beta of 1.19. The firm has a 50-day moving average of $4.05 and a 200 day moving average of $4.18.

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

Institutional Investors Weigh In On Yalla Group

A number of institutional investors and hedge funds have recently modified their holdings of the stock. Public Employees Retirement System of Ohio raised its position in shares of Yalla Group by 123.9% during the fourth quarter. Public Employees Retirement System of Ohio now owns 26,173 shares of the company’s stock worth $106,000 after purchasing an additional 14,483 shares during the period. Vident Advisory LLC grew its stake in Yalla Group by 180.3% in the fourth quarter. Vident Advisory LLC now owns 156,823 shares of the company’s stock valued at $637,000 after purchasing an additional 100,872 shares in the last quarter. Millennium Management LLC grew its stake in Yalla Group by 57.9% in the fourth quarter. Millennium Management LLC now owns 585,284 shares of the company’s stock valued at $2,376,000 after purchasing an additional 214,625 shares in the last quarter. Cubist Systematic Strategies LLC bought a new stake in shares of Yalla Group during the 4th quarter worth about $99,000. Finally, BNP Paribas Financial Markets bought a new stake in shares of Yalla Group during the 4th quarter worth about $1,838,000. 4.73% of the stock is 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.