Yalla Group (NYSE:YALA) Sees Large Volume Increase - Here's Why

Shares of Yalla Group Limited (NYSE:YALA - Get Free Report) saw an uptick in trading volume on Monday . 1,256,603 shares were traded during trading, an increase of 355% from the previous session's volume of 276,168 shares.The stock last traded at $6.50 and had previously closed at $5.87.

Yalla Group Stock Up 4.9 %

The company's 50 day simple moving average is $4.86 and its two-hundred day simple moving average is $4.43. The company has a market capitalization of $1.04 billion, a price-to-earnings ratio of 8.99 and a beta of 0.96.

Yalla Group (NYSE:YALA - Get Free Report) last issued its quarterly earnings results on Monday, March 10th. The company reported $0.18 earnings per share 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 period in the prior year, the business posted $0.17 EPS.

Institutional Investors Weigh In On Yalla Group

A number of institutional investors have recently modified their holdings of the business. GAMMA Investing LLC increased its position in shares of Yalla Group by 265.8% during the first quarter. GAMMA Investing LLC now owns 85,044 shares of the company's stock worth $444,000 after purchasing an additional 61,796 shares in the last quarter. Public Employees Retirement System of Ohio lifted its holdings in shares of Yalla Group by 123.9% in the 4th quarter. Public Employees Retirement System of Ohio now owns 26,173 shares of the company's stock worth $106,000 after acquiring an additional 14,483 shares during the last quarter. Vident Advisory LLC lifted its stake in Yalla Group by 180.3% during the 4th quarter. Vident Advisory LLC now owns 156,823 shares of the company's stock worth $637,000 after acquiring an additional 100,872 shares in the last quarter. Millennium Management LLC boosted its holdings in Yalla Group by 57.9% in the fourth 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. Finally, Cubist Systematic Strategies LLC purchased a new stake in shares of Yalla Group during the 4th quarter worth $99,000. 4.73% of the stock is currently owned by institutional investors and hedge funds.

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.