Yalla Group (NYSE:YALA) Shares Gap Down – Here’s Why

Yalla Group Limited (NYSE:YALA)’s stock price gapped down prior to trading on Friday . The stock had previously closed at $6.73, but opened at $6.40. Yalla Group shares last traded at $6.38, with a volume of 684,752 shares changing hands.

Yalla Group Price Performance

The firm has a market cap of $982.41 million, a PE ratio of 8.51 and a beta of 0.81. The firm has a 50-day simple moving average of $6.97 and a 200 day simple moving average of $5.25.

Yalla Group (NYSE:YALA) last announced its quarterly earnings data on Monday, May 19th. The company reported $0.22 EPS for the quarter. The business had revenue of $83.88 million during the quarter. Yalla Group had a return on equity of 21.80% and a net margin of 40.72%.

Hedge Funds Weigh In On Yalla Group

Institutional investors and hedge funds have recently added to or reduced their stakes in the company. Acadian Asset Management LLC raised its position in shares of Yalla Group by 1.4% in the 1st quarter. Acadian Asset Management LLC now owns 2,791,208 shares of the company’s stock worth $14,535,000 after purchasing an additional 37,580 shares during the last quarter. Goldman Sachs Group Inc. raised its position in shares of Yalla Group by 64.6% in the 1st quarter. Goldman Sachs Group Inc. now owns 104,475 shares of the company’s stock worth $545,000 after purchasing an additional 41,003 shares during the last quarter. Vident Advisory LLC raised its position in shares of Yalla Group by 190.7% in the 1st quarter. Vident Advisory LLC now owns 455,808 shares of the company’s stock worth $2,379,000 after purchasing an additional 298,985 shares during the last quarter. Jump Financial LLC raised its position in shares of Yalla Group by 31.4% in the 1st quarter. Jump Financial LLC now owns 62,000 shares of the company’s stock worth $324,000 after purchasing an additional 14,800 shares during the last quarter. Finally, E Fund Management Co. Ltd. purchased a new position in shares of Yalla Group in the 1st quarter worth about $644,000. Hedge funds and other institutional investors own 4.73% of the company’s stock.

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.