Yalla Group (NYSE:YALA) Reaches New 52-Week High – Here’s Why

Yalla Group Limited (NYSE:YALA)’s share price hit a new 52-week high during mid-day trading on Tuesday . The company traded as high as $4.97 and last traded at $4.95, with a volume of 679361 shares. The stock had previously closed at $4.68.

Yalla Group Price Performance

The business’s 50 day moving average is $4.15 and its 200-day moving average is $4.22. The company has a market cap of $839.49 million, a PE ratio of 7.25 and a beta of 1.19.

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

Institutional Inflows and Outflows

A number of institutional investors have recently added to or reduced their stakes in YALA. Walleye Capital LLC purchased a new stake in shares of Yalla Group during the 3rd quarter worth approximately $68,000. State Street Corp lifted its position in shares of Yalla Group by 1.5% during the 3rd quarter. State Street Corp now owns 538,689 shares of the company’s stock worth $2,446,000 after buying an additional 7,924 shares during the last quarter. Public Employees Retirement System of Ohio purchased a new stake in shares of Yalla Group during the 3rd quarter worth approximately $53,000. DGS Capital Management LLC lifted its position in shares of Yalla Group by 109.0% during the 3rd quarter. DGS Capital Management LLC now owns 76,785 shares of the company’s stock worth $349,000 after buying an additional 40,050 shares during the last quarter. Finally, GAMMA Investing LLC lifted its position in shares of Yalla Group by 150.3% during the 4th quarter. GAMMA Investing LLC now owns 23,248 shares of the company’s stock worth $94,000 after buying an additional 13,960 shares during the last quarter. Hedge funds and other institutional investors 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.