Yalla Group (NYSE:YALA) Downgraded by Wall Street Zen to “Hold”

Yalla Group (NYSE:YALA) was downgraded by investment analysts at Wall Street Zen from a “buy” rating to a “hold” rating in a research note issued to investors on Saturday.

Yalla Group Stock Down 1.9%

NYSE:YALA opened at $7.64 on Friday. Yalla Group has a 52 week low of $3.73 and a 52 week high of $9.29. The stock has a market capitalization of $1.21 billion, a PE ratio of 9.55 and a beta of 0.80. The stock’s 50-day moving average price is $7.37 and its 200-day moving average price is $6.27.

Yalla Group (NYSE:YALA) last issued its quarterly earnings results on Monday, August 11th. The company reported $0.20 earnings per share for the quarter. The firm had revenue of $84.56 million for the quarter. Yalla Group had a net margin of 42.02% and a return on equity of 20.64%.

Institutional Trading of Yalla Group

Several institutional investors have recently made changes to their positions in the company. BNP Paribas Financial Markets raised its position in shares of Yalla Group by 34.3% during the 2nd quarter. BNP Paribas Financial Markets now owns 630,147 shares of the company’s stock valued at $4,247,000 after buying an additional 160,815 shares during the period. Bank of America Corp DE raised its position in shares of Yalla Group by 3,267.8% during the 2nd quarter. Bank of America Corp DE now owns 159,802 shares of the company’s stock valued at $1,077,000 after buying an additional 155,057 shares during the period. Canada Pension Plan Investment Board purchased a new stake in shares of Yalla Group during the 2nd quarter valued at approximately $2,424,000. Qube Research & Technologies Ltd raised its position in shares of Yalla Group by 92.6% during the 2nd quarter. Qube Research & Technologies Ltd now owns 153,416 shares of the company’s stock valued at $1,034,000 after buying an additional 73,777 shares during the period. Finally, EverSource Wealth Advisors LLC raised its position in shares of Yalla Group by 73.7% during the 2nd quarter. EverSource Wealth Advisors LLC now owns 6,481 shares of the company’s stock valued at $44,000 after buying an additional 2,749 shares during the period. Hedge funds and other institutional investors own 4.73% of the company’s stock.

About Yalla Group

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.