Ariose Capital Management Ltd Sells 472,300 Shares of Yalla Group Limited Sponsored ADR $YALA

Key Points

• Ariose Capital Management Ltd cut its position in Yalla by 81.1%, selling 472,300 shares in Q4 and retaining 109,934 shares worth about $763,000 after the sale.
• Yalla's board approved a $150.0 million share buyback that could repurchase up to 13.6% of outstanding shares, a move that typically signals management believes the stock is undervalued.
• Yalla trades with a market cap of about $1.04 billion and a PE of 7.95; it reported $0.21 EPS and $83.9 million in quarterly revenue, and currently carries an average analyst rating of "Hold".

Ariose Capital Management Ltd decreased its position in shares of Yalla Group Limited Sponsored ADR (NYSE:YALA - Free Report) by 81.1% during the fourth quarter, according to its most recent filing with the Securities and Exchange Commission. The institutional investor owned 109,934 shares of the company's stock after selling 472,300 shares during the quarter. Yalla Group makes up 0.3% of Ariose Capital Management Ltd's holdings, making the stock its 13th largest holding. Ariose Capital Management Ltd owned about 0.07% of Yalla Group worth $763,000 at the end of the most recent quarter.

A number of other hedge funds and other institutional investors have also made changes to their positions in the company. EverSource Wealth Advisors LLC boosted its holdings in shares of Yalla Group by 73.7% in the 2nd quarter. EverSource Wealth Advisors LLC now owns 6,481 shares of the company's stock valued at $44,000 after buying an additional 2,749 shares in the last quarter. Mirae Asset Global Investments Co. Ltd. bought a new stake in shares of Yalla Group in the 3rd quarter valued at about $71,000. Blue Trust Inc. boosted its holdings in shares of Yalla Group by 18.8% in the 3rd quarter. Blue Trust Inc. now owns 10,292 shares of the company's stock valued at $77,000 after buying an additional 1,632 shares in the last quarter. Cresset Asset Management LLC bought a new stake in shares of Yalla Group in the 3rd quarter valued at about $82,000. Finally, Vanguard Personalized Indexing Management LLC bought a new stake in shares of Yalla Group in the 3rd quarter valued at about $96,000. Institutional investors own 4.73% of the company's stock.

Wall Street Analysts Forecast Growth

Separately, Weiss Ratings restated a "hold (c+)" rating on shares of Yalla Group in a report on Wednesday, January 21st. One analyst has rated the stock with a Hold rating, According to data from MarketBeat.com, the stock currently has an average rating of "Hold".

Yalla Group Price Performance

Yalla Group stock opened at $6.60 on Friday. The stock has a market capitalization of $1.04 billion, a PE ratio of 7.95 and a beta of 0.43. Yalla Group Limited Sponsored ADR has a 12 month low of $5.88 and a 12 month high of $9.29. The business has a 50 day simple moving average of $6.70 and a 200-day simple moving average of $6.95.

Yalla Group (NYSE:YALA - Get Free Report) last posted its quarterly earnings data on Saturday, February 14th. The company reported $0.21 EPS for the quarter. The business had revenue of $83.86 million during the quarter. Yalla Group had a return on equity of 19.67% and a net margin of 43.82%.

Yalla Group announced that its board has approved a share buyback plan on Monday, March 9th that allows the company to repurchase $150.00 million in shares. This repurchase authorization allows the company to repurchase up to 13.6% of its stock through open market purchases. Stock repurchase plans are typically a sign that the company's board of directors believes its shares are undervalued.

Yalla Group Profile

Yalla Group NYSE: YALA operates a voice-centric social networking and entertainment platform designed to connect users through live audio chat rooms, interactive voice channels and mobile gaming. Its core product, the Yalla app, allows participants in the Middle East and North Africa (MENA) region to join real-time voice discussion groups, host audio shows and send virtual gifts. Through the PokerBROS brand, the company offers a mobile-first social poker platform featuring Texas Hold'em, Chinese Poker and other variants, enabling casual and competitive gaming among a growing user base.

Founded in 2016 and incorporated in the Cayman Islands, Yalla Group established its headquarters in Riyadh with additional offices in Dubai and Asia.

This instant news alert was generated by narrative science technology and financial data from MarketBeat in order to provide readers with the fastest reporting and unbiased coverage. Please send any questions or comments about this story to contact@marketbeat.com.