Yalla Group (NYSE:YALA) Sees Large Volume Increase

Yalla Group Limited (NYSE:YALAGet Rating) shares saw unusually-high trading volume on Monday . Approximately 76,026 shares traded hands during mid-day trading, a decline of 87% from the previous session’s volume of 585,212 shares.The stock last traded at $3.56 and had previously closed at $3.72.

The firm has a market capitalization of $508.07 million, a price-to-earnings ratio of 8.27 and a beta of 1.44. The stock’s 50 day moving average price is $3.92 and its two-hundred day moving average price is $5.27.

Yalla Group (NYSE:YALAGet Rating) last posted its quarterly earnings results on Monday, May 16th. The company reported $0.10 earnings per share for the quarter. Yalla Group had a net margin of 28.99% and a return on equity of 24.77%. The business had revenue of $72.34 million for the quarter.

Several institutional investors have recently added to or reduced their stakes in the stock. Millennium Management LLC boosted its position in shares of Yalla Group by 3,711.1% in the 4th quarter. Millennium Management LLC now owns 912,642 shares of the company’s stock worth $6,124,000 after buying an additional 888,695 shares in the last quarter. Wellington Management Group LLP boosted its position in shares of Yalla Group by 62.9% in the 1st quarter. Wellington Management Group LLP now owns 753,441 shares of the company’s stock worth $3,375,000 after buying an additional 291,012 shares in the last quarter. Renaissance Technologies LLC purchased a new stake in shares of Yalla Group in the 4th quarter worth about $2,578,000. Morgan Stanley boosted its position in shares of Yalla Group by 81.8% in the 3rd quarter. Morgan Stanley now owns 373,314 shares of the company’s stock worth $2,833,000 after buying an additional 167,968 shares in the last quarter. Finally, Cubist Systematic Strategies LLC boosted its position in shares of Yalla Group by 973.7% in the 3rd quarter. Cubist Systematic Strategies LLC now owns 168,510 shares of the company’s stock worth $1,279,000 after buying an additional 152,816 shares in the last quarter. Institutional investors and hedge funds own 22.17% of the company’s stock.

Yalla Group Company Profile (NYSE:YALA)

Yalla Group Limited operates a voice-centric social networking and entertainment platform under the Yalla name primarily in the Middle East and North Africa region. Its platform offers group chatting and games services; and sells virtual items, as well as provides upgrade services. The company was formerly known as FYXTech Corporation.

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