Shares of Yalla Group Limited Sponsored ADR (NYSE:YALA - Get Free Report) dropped 4.7% during mid-day trading on Wednesday . The stock traded as low as $7.92 and last traded at $7.97. Approximately 295,053 shares traded hands during mid-day trading, a decline of 61% from the average daily volume of 756,899 shares. The stock had previously closed at $8.36.
Analysts Set New Price Targets
Separately, Wall Street Zen downgraded shares of Yalla Group from a "buy" rating to a "hold" rating in a research report on Saturday.
Read Our Latest Analysis on YALA
Yalla Group Stock Down 0.6%
The company has a fifty day moving average of $7.38 and a 200 day moving average of $6.32. The company has a market cap of $1.20 billion, a P/E ratio of 9.49 and a beta of 0.80.
Yalla Group (NYSE:YALA - Get Free Report) last released its quarterly earnings results 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 modified their holdings of the business. BNP Paribas Financial Markets bought a new position in Yalla Group in the 4th quarter worth $1,838,000. GAMMA Investing LLC increased its position in Yalla Group by 265.8% in the first quarter. GAMMA Investing LLC now owns 85,044 shares of the company's stock worth $444,000 after buying an additional 61,796 shares in the last quarter. Robeco Institutional Asset Management B.V. raised its stake in shares of Yalla Group by 13.4% in the first quarter. Robeco Institutional Asset Management B.V. now owns 190,606 shares of the company's stock worth $995,000 after buying an additional 22,541 shares during the period. Russell Investments Group Ltd. lifted its position in shares of Yalla Group by 113.7% during the 4th quarter. Russell Investments Group Ltd. now owns 105,334 shares of the company's stock valued at $423,000 after buying an additional 56,046 shares in the last quarter. Finally, Public Employees Retirement System of Ohio grew its stake in shares of Yalla Group by 123.9% during the 4th quarter. Public Employees Retirement System of Ohio now owns 26,173 shares of the company's stock valued at $106,000 after acquiring an additional 14,483 shares during the period. Hedge funds and other institutional investors own 4.73% of the company's stock.
About Yalla Group
(
Get Free Report)
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.
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