Yalla Group (NYSE:YALA) Sees Large Volume Increase

Yalla Group Limited (NYSE:YALA) shares saw unusually-strong trading volume on Wednesday . Approximately 171,793 shares changed hands during mid-day trading, a decline of 33% from the previous session’s volume of 257,732 shares.The stock last traded at $4.76 and had previously closed at $4.55.

Yalla Group Stock Up 5.1 %

The company’s 50-day moving average is $4.08 and its 200-day moving average is $4.48. The stock has a market capitalization of $757.84 million, a price-to-earnings ratio of 6.50 and a beta of 1.17.

Yalla Group (NYSE:YALA) last posted its earnings results on Monday, August 12th. The company reported $0.17 EPS 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 for the quarter.

Hedge Funds Weigh In On Yalla Group

Several hedge funds have recently bought and sold shares of YALA. EverSource Wealth Advisors LLC boosted its position 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 valued at $26,000 after buying an additional 5,113 shares during the period. Tucker Asset Management LLC acquired a new position in Yalla Group during the 4th quarter worth $44,000. Blue Trust Inc. grew its stake in Yalla Group by 36,378.6% during 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 in the last quarter. Advisory Services Network LLC purchased a new stake in Yalla Group during the 4th quarter worth about $205,000. Finally, FinTrust Capital Advisors LLC acquired a new stake in Yalla Group in the 1st quarter valued at about $240,000. Institutional investors and hedge funds own 4.73% of the company’s stock.

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.