Yalla Group (NYSE:YALA) Shares Gap Up – Time to Buy?

Yalla Group Limited (NYSE:YALA)’s share price gapped up prior to trading on Friday . The stock had previously closed at $5.63, but opened at $5.78. Yalla Group shares last traded at $5.70, with a volume of 148,037 shares changing hands.

Yalla Group Price Performance

The stock has a market cap of $858.51 million, a price-to-earnings ratio of 7.42 and a beta of 1.19. The firm’s 50-day moving average is $4.35 and its 200 day moving average is $4.28.

Yalla Group (NYSE:YALA) last released 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 business had revenue of $90.83 million during the quarter. During the same quarter in the previous year, the company earned $0.17 earnings per share.

Hedge Funds Weigh In On Yalla Group

A number of large investors have recently modified their holdings of YALA. Millennium Management LLC increased its position in Yalla Group by 57.9% during the 4th quarter. Millennium Management LLC now owns 585,284 shares of the company’s stock worth $2,376,000 after purchasing an additional 214,625 shares in the last quarter. State Street Corp grew its stake in Yalla Group by 1.5% during the third 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 period. BNP Paribas Financial Markets acquired a new stake in shares of Yalla Group in the fourth quarter worth $1,838,000. Marshall Wace LLP purchased a new position in shares of Yalla Group in the 4th quarter valued at $900,000. Finally, Robeco Institutional Asset Management B.V. lifted its holdings in shares of Yalla Group by 27.4% during the 4th quarter. Robeco Institutional Asset Management B.V. now owns 168,065 shares of the company’s stock valued at $682,000 after acquiring an additional 36,166 shares in the last quarter. 4.73% of the stock is currently owned by hedge funds and other institutional investors.

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.