Yalla Group (NYSE:YALA) Shares Gap Down to $4.58

Yalla Group Limited (NYSE:YALA) gapped down before the market opened on Friday . The stock had previously closed at $4.58, but opened at $4.47. Yalla Group shares last traded at $4.48, with a volume of 44,120 shares.

Yalla Group Stock Performance

The firm’s 50 day simple moving average is $4.71 and its 200-day simple moving average is $5.03. The company has a market capitalization of $721.36 million, a price-to-earnings ratio of 6.50 and a beta of 1.19.

Yalla Group (NYSE:YALA) last posted its quarterly earnings results on Monday, May 20th. The company reported $0.17 earnings per share for the quarter. Yalla Group had a return on equity of 23.49% and a net margin of 39.64%. The firm had revenue of $78.73 million for the quarter.

Hedge Funds Weigh In On Yalla Group

Several institutional investors and hedge funds have recently modified their holdings of YALA. Quadrature Capital Ltd purchased a new position in Yalla Group in the third quarter valued at about $541,000. Exchange Traded Concepts LLC bought a new stake in shares of Yalla Group in the 4th quarter valued at approximately $45,000. Legato Capital Management LLC increased its holdings in Yalla Group by 72.7% in the fourth quarter. Legato Capital Management LLC now owns 18,124 shares of the company’s stock worth $111,000 after buying an additional 7,628 shares during the last quarter. Blue Trust Inc. raised its position in Yalla Group by 3,564.8% during the fourth quarter. Blue Trust Inc. now owns 4,691 shares of the company’s stock valued at $29,000 after acquiring an additional 4,563 shares in the last quarter. Finally, Mirae Asset Global Investments Co. Ltd. lifted its stake in Yalla Group by 19.4% in the fourth quarter. Mirae Asset Global Investments Co. Ltd. now owns 69,398 shares of the company’s stock valued at $425,000 after acquiring an additional 11,270 shares during the last quarter. 4.73% of the stock is currently 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.