Yalla Group (NYSE:YALA) Trading Down 0.3% - Here's What Happened

Key Points

• Yalla Group shares fell 0.3% to $5.465 during Tuesday’s midday trading, with volume slightly above the average session level.
• Weiss Ratings downgraded the stock from “hold (c+)” to “hold (c),” while the broader analyst consensus remains “Hold.”
• The company reported quarterly earnings of $0.21 per share on $82.61 million in revenue, alongside a 40.78% net margin; institutional investors own 4.73% of the stock.

Shares of Yalla Group Limited Sponsored ADR (NYSE:YALA - Get Free Report) dropped 0.3% during mid-day trading on Tuesday . The company traded as low as $5.38 and last traded at $5.4650. 354,649 shares traded hands during trading, an increase of 3% from the average session volume of 343,713 shares. The stock had previously closed at $5.48.

Analyst Ratings Changes

Separately, Weiss Ratings downgraded Yalla Group from a "hold (c+)" rating to a "hold (c)" rating in a research note on Tuesday, August 18th. One analyst has rated the stock with a Hold rating, According to data from MarketBeat, Yalla Group presently has an average rating of "Hold".

Yalla Group Stock Down 0.3%

The company has a market cap of $835.93 million, a PE ratio of 7.10 and a beta of 0.51. The company has a 50-day moving average of $5.44 and a 200-day moving average of $6.02.

Yalla Group (NYSE:YALA - Get Free Report) last issued its quarterly earnings data on Tuesday, August 18th. The company reported $0.21 earnings per share for the quarter. Yalla Group had a return on equity of 16.82% and a net margin of 40.78%.The business had revenue of $82.61 million for the quarter.

Hedge Funds Weigh In On Yalla Group

A number of hedge funds and other institutional investors have recently modified their holdings of the business. MIRAE ASSET GLOBAL ETFS HOLDINGS Ltd. boosted its position in Yalla Group by 4.8% in the third quarter. MIRAE ASSET GLOBAL ETFS HOLDINGS Ltd. now owns 43,905 shares of the company's stock worth $330,000 after purchasing an additional 2,004 shares during the last quarter. EverSource Wealth Advisors LLC increased its position in shares of Yalla Group by 73.7% during the 2nd quarter. EverSource Wealth Advisors LLC now owns 6,481 shares of the company's stock valued at $44,000 after purchasing an additional 2,749 shares during the last quarter. QRG Capital Management Inc. increased its position in shares of Yalla Group by 14.4% during the 1st quarter. QRG Capital Management Inc. now owns 22,814 shares of the company's stock valued at $142,000 after purchasing an additional 2,863 shares during the last quarter. Geode Capital Management LLC raised its stake in shares of Yalla Group by 10.7% during the 4th quarter. Geode Capital Management LLC now owns 32,200 shares of the company's stock worth $223,000 after purchasing an additional 3,105 shares during the period. Finally, Ariadne Wealth Management LP raised its stake in shares of Yalla Group by 12.6% during the 4th quarter. Ariadne Wealth Management LP now owns 29,764 shares of the company's stock worth $211,000 after purchasing an additional 3,332 shares during the period. Hedge funds and other institutional investors own 4.73% of the company's stock.

Yalla Group Company 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.

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