Yalla Group (NYSE:YALA) Shares Down 3% - Here's Why

Yalla Group Limited (NYSE:YALA - Get Free Report)'s stock price fell 3% during trading on Thursday . The stock traded as low as $6.92 and last traded at $6.87. 42,338 shares were traded during trading, a decline of 91% from the average session volume of 460,132 shares. The stock had previously closed at $7.08.

Yalla Group Trading Down 3.0%

The stock has a market capitalization of $1.06 billion, a P/E ratio of 9.16 and a beta of 0.88. The business's fifty day simple moving average is $6.66 and its two-hundred day simple moving average is $5.08.

Yalla Group (NYSE:YALA - Get Free Report) last released its earnings results 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 business had revenue of $83.88 million during the quarter.

Institutional Inflows and Outflows

A number of large investors have recently modified their holdings of YALA. Virtu Financial LLC acquired a new stake in Yalla Group during the first quarter worth $61,000. Dynamic Technology Lab Private Ltd acquired a new stake in shares of Yalla Group during the 4th quarter valued at about $74,000. QRG Capital Management Inc. boosted its position in shares of 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 in the last quarter. Cubist Systematic Strategies LLC bought a new stake in Yalla Group in the fourth quarter valued at about $99,000. Finally, Public Employees Retirement System of Ohio raised its position in 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 purchasing an additional 14,483 shares in the last quarter. 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.