Yalla Group (NYSE:YALA) Downgraded to Hold Rating by Wall Street Zen

Key Points

• Yalla Group has been downgraded from a "buy" rating to a "hold" rating by Wall Street Zen, indicating a shift in analyst sentiment.
• The stock price for Yalla Group fell by 1.9% to $7.64, with a market capitalization of $1.21 billion and a PE ratio of 9.55.
• Institutional investors have increased their positions significantly, with some firms like Bank of America Corp DE raising their stakes by over 3,267% in the second quarter.

Wall Street Zen downgraded shares of Yalla Group (NYSE:YALA - Free Report) from a buy rating to a hold rating in a report released on Saturday morning.

Yalla Group Trading Down 1.9%

Shares of YALA traded down $0.15 on Friday, reaching $7.64. The company's stock had a trading volume of 631,041 shares, compared to its average volume of 846,483. Yalla Group has a twelve month low of $3.73 and a twelve month high of $9.29. The stock has a market capitalization of $1.21 billion, a PE ratio of 9.55 and a beta of 0.80. The firm has a fifty day moving average of $7.37 and a 200-day moving average of $6.30.

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

Institutional Inflows and Outflows

Several institutional investors and hedge funds have recently bought and sold shares of the business. BNP Paribas Financial Markets boosted its holdings in Yalla Group by 34.3% in the 2nd quarter. BNP Paribas Financial Markets now owns 630,147 shares of the company's stock valued at $4,247,000 after purchasing an additional 160,815 shares during the period. Bank of America Corp DE raised its position in Yalla Group by 3,267.8% in the 2nd quarter. Bank of America Corp DE now owns 159,802 shares of the company's stock worth $1,077,000 after purchasing an additional 155,057 shares during the period. Canada Pension Plan Investment Board purchased a new position in Yalla Group in the 2nd quarter worth $2,424,000. Qube Research & Technologies Ltd increased its position in shares of Yalla Group by 92.6% in the second quarter. Qube Research & Technologies Ltd now owns 153,416 shares of the company's stock valued at $1,034,000 after acquiring an additional 73,777 shares during the period. Finally, EverSource Wealth Advisors LLC boosted its stake 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 in the last quarter. 4.73% of the stock is owned by institutional investors.

Yalla Group Company Profile

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.