Yalla Group (NYSE:YALA) Sees Unusually-High Trading Volume - Time to Buy?

Shares of Yalla Group Limited (NYSE:YALA - Get Free Report) saw an uptick in trading volume on Thursday . 594,026 shares traded hands during mid-day trading, an increase of 33% from the previous session's volume of 447,122 shares.The stock last traded at $7.76 and had previously closed at $7.85.

Yalla Group Stock Down 1.3%

The company has a market cap of $1.11 billion, a P/E ratio of 9.66 and a beta of 0.88. The firm's 50 day moving average is $6.51 and its two-hundred day moving average is $5.01.

Yalla Group (NYSE:YALA - Get Free Report) last issued its quarterly earnings data on Monday, May 19th. The company reported $0.22 earnings per share for the quarter. Yalla Group had a net margin of 40.72% and a return on equity of 21.80%. The company had revenue of $83.88 million for the quarter.

Institutional Trading of Yalla Group

Institutional investors have recently modified their holdings of the business. Acadian Asset Management LLC boosted its position in Yalla Group by 1.4% during the first quarter. Acadian Asset Management LLC now owns 2,791,208 shares of the company's stock valued at $14,535,000 after acquiring an additional 37,580 shares during the last quarter. Goldman Sachs Group Inc. boosted its position in Yalla Group by 64.6% during the first quarter. Goldman Sachs Group Inc. now owns 104,475 shares of the company's stock valued at $545,000 after acquiring an additional 41,003 shares during the last quarter. Vident Advisory LLC boosted its position in Yalla Group by 190.7% during the first quarter. Vident Advisory LLC now owns 455,808 shares of the company's stock valued at $2,379,000 after acquiring an additional 298,985 shares during the last quarter. Jump Financial LLC boosted its position in Yalla Group by 31.4% during the first quarter. Jump Financial LLC now owns 62,000 shares of the company's stock valued at $324,000 after acquiring an additional 14,800 shares during the last quarter. Finally, E Fund Management Co. Ltd. bought a new stake in Yalla Group during the first quarter valued at $644,000. Institutional investors own 4.73% of the company's stock.

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.