E Fund Management Co. Ltd. Takes $644,000 Position in Yalla Group Limited Sponsored ADR $YALA

Key Points

• E Fund Management Co. Ltd. has acquired a new stake in Yalla Group Limited, purchasing 123,354 shares valued at approximately $644,000.
• Other institutional investors such as Millennium Management and Vident Advisory have significantly increased their holdings in Yalla Group, indicating rising interest among hedge funds.
• Yalla Group's stock performance shows a current price of $8.13, with a market cap of $1.29 billion and a 52-week trading range between $3.72 and $9.29.

E Fund Management Co. Ltd. purchased a new stake in Yalla Group Limited Sponsored ADR (NYSE:YALA - Free Report) in the first quarter, according to its most recent filing with the SEC. The fund purchased 123,354 shares of the company's stock, valued at approximately $644,000. E Fund Management Co. Ltd. owned about 0.08% of Yalla Group at the end of the most recent quarter.

Other institutional investors have also made changes to their positions in the company. BNP Paribas Financial Markets acquired a new position in Yalla Group during the 4th quarter valued at approximately $1,838,000. Marshall Wace LLP acquired a new position in Yalla Group during the 4th quarter valued at approximately $900,000. Millennium Management LLC boosted 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 valued at $2,376,000 after purchasing an additional 214,625 shares during the period. E Fund Management Hong Kong Co. Ltd. acquired a new position in Yalla Group during the 1st quarter valued at approximately $644,000. Finally, Vident Advisory LLC boosted its position in Yalla Group by 180.3% during the 4th quarter. Vident Advisory LLC now owns 156,823 shares of the company's stock valued at $637,000 after purchasing an additional 100,872 shares during the period. 4.73% of the stock is currently owned by institutional investors.

Yalla Group Stock Down 0.6%

YALA stock traded down $0.05 during trading on Monday, reaching $7.60. 929,538 shares of the company's stock were exchanged, compared to its average volume of 761,589. Yalla Group Limited Sponsored ADR has a 1-year low of $3.73 and a 1-year high of $9.29. The company's fifty day moving average price is $7.37 and its 200-day moving average price is $6.30. The firm has a market cap of $1.20 billion, a PE ratio of 9.49 and a beta of 0.80.

Yalla Group (NYSE:YALA - Get Free Report) last announced its quarterly earnings results on Monday, August 11th. The company reported $0.20 earnings per share (EPS) for the quarter. Yalla Group had a return on equity of 20.64% and a net margin of 42.02%. The company had revenue of $84.56 million during the quarter.

Analysts Set New Price Targets

Separately, Wall Street Zen lowered Yalla Group from a "buy" rating to a "hold" rating in a research report on Saturday.

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.