Yalla Group (NYSE:YALA) Hits New 52-Week High - Time to Buy?

Yalla Group Limited (NYSE:YALA - Get Free Report)'s stock price hit a new 52-week high during mid-day trading on Tuesday . The company traded as high as $8.15 and last traded at $8.02, with a volume of 2391076 shares trading hands. The stock had previously closed at $7.76.

Yalla Group Stock Down 7.7 %

The firm has a market capitalization of $1.13 billion, a P/E ratio of 9.74 and a beta of 0.96. The company has a fifty day simple moving average of $5.51 and a 200 day simple moving average of $4.63.

Yalla Group (NYSE:YALA - Get Free Report) last announced its quarterly earnings results on Monday, March 10th. The company reported $0.18 earnings per share (EPS) for the quarter. The company had revenue of $90.83 million for the quarter. Yalla Group had a net margin of 40.72% and a return on equity of 21.80%. During the same quarter in the previous year, the firm earned $0.17 EPS.

Hedge Funds Weigh In On Yalla Group

Several hedge funds and other institutional investors have recently added to or reduced their stakes in the business. Dynamic Technology Lab Private Ltd purchased a new position in shares of Yalla Group in the fourth quarter worth $74,000. GAMMA Investing LLC raised its position in Yalla Group by 150.3% in the 4th quarter. GAMMA Investing LLC now owns 23,248 shares of the company's stock worth $94,000 after buying an additional 13,960 shares during the last quarter. QRG Capital Management Inc. lifted its stake in Yalla Group by 14.7% during the 4th quarter. QRG Capital Management Inc. now owns 23,400 shares of the company's stock valued at $95,000 after acquiring an additional 2,996 shares during the period. Cubist Systematic Strategies LLC purchased a new stake in shares of Yalla Group during the 4th quarter valued at about $99,000. Finally, Public Employees Retirement System of Ohio grew its stake in shares of Yalla Group by 123.9% in the fourth 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 period. 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.