Yalla Group Limited (NYSE:YALA) Sees Large Drop in Short Interest

Yalla Group Limited (NYSE:YALA) was the recipient of a significant drop in short interest in the month of May. As of May 15th, there was short interest totalling 1,090,000 shares, a drop of 24.3% from the April 30th total of 1,440,000 shares. Based on an average trading volume of 1,150,000 shares, the short-interest ratio is presently 0.9 days. Currently, 1.4% of the shares of the company are sold short.

Hedge Funds Weigh In On Yalla Group

Several institutional investors and hedge funds have recently modified their holdings of YALA. BNP Paribas Financial Markets purchased a new stake in Yalla Group in the 4th quarter worth $1,838,000. Vident Advisory LLC grew its position in shares of Yalla Group by 190.7% in the first quarter. Vident Advisory LLC now owns 455,808 shares of the company’s stock valued at $2,379,000 after purchasing an additional 298,985 shares during the period. Marshall Wace LLP purchased a new stake in shares of Yalla Group during the fourth quarter worth about $900,000. Millennium Management LLC raised its position in shares of Yalla Group by 57.9% during the 4th quarter. Millennium Management LLC now owns 585,284 shares of the company’s stock worth $2,376,000 after purchasing an additional 214,625 shares during the last quarter. Finally, E Fund Management Hong Kong Co. Ltd. purchased a new position in Yalla Group in the 1st quarter valued at about $644,000. Hedge funds and other institutional investors own 4.73% of the company’s stock.

Yalla Group Price Performance

Shares of NYSE YALA opened at $6.83 on Wednesday. The stock has a market capitalization of $1.08 billion, a price-to-earnings ratio of 9.35 and a beta of 0.82. The firm’s 50 day simple moving average is $6.70 and its 200-day simple moving average is $5.11. Yalla Group has a 12 month low of $3.71 and a 12 month high of $8.29.

Yalla Group (NYSE:YALA) last released its quarterly earnings results on Monday, May 19th. The company reported $0.22 EPS 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.

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.