Yalla Group (NYSE:YALA) Shares Down 1.7% – Here’s Why

Yalla Group Limited Sponsored ADR (NYSE:YALA) shares dropped 1.7% during mid-day trading on Tuesday . The stock traded as low as $6.95 and last traded at $6.9730. Approximately 279,608 shares were traded during mid-day trading, a decline of 6% from the average daily volume of 297,471 shares. The stock had previously closed at $7.09.

Analyst Upgrades and Downgrades

YALA has been the subject of a number of recent research reports. Weiss Ratings restated a “hold (c+)” rating on shares of Yalla Group in a report on Wednesday, October 8th. Wall Street Zen cut shares of Yalla Group from a “buy” rating to a “hold” rating in a research report on Friday, October 3rd. One equities research analyst has rated the stock with a Hold rating, According to MarketBeat.com, the company has an average rating of “Hold”.

Yalla Group Stock Performance

The company has a market cap of $1.10 billion, a price-to-earnings ratio of 8.61 and a beta of 0.23. The company has a 50-day simple moving average of $7.12 and a 200-day simple moving average of $7.36.

Yalla Group (NYSE:YALA) last announced its quarterly earnings results on Monday, November 10th. The company reported $0.23 earnings per share (EPS) for the quarter. Yalla Group had a net margin of 42.29% and a return on equity of 20.06%. The business had revenue of $89.64 million during the quarter.

Institutional Trading of Yalla Group

Hedge funds and other institutional investors have recently bought and sold shares of the company. Acadian Asset Management LLC raised its stake in Yalla Group by 1.4% during the first 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 period. Arrowstreet Capital Limited Partnership increased its holdings in shares of Yalla Group by 1,075.9% during the 2nd quarter. Arrowstreet Capital Limited Partnership now owns 1,981,119 shares of the company’s stock worth $13,353,000 after buying an additional 1,812,642 shares during the last quarter. Robeco Institutional Asset Management B.V. raised its position in shares of Yalla Group by 58.7% in the 3rd quarter. Robeco Institutional Asset Management B.V. now owns 992,414 shares of the company’s stock worth $7,453,000 after buying an additional 367,249 shares during the period. Barclays PLC raised its position in shares of Yalla Group by 714.8% in the 3rd quarter. Barclays PLC now owns 817,404 shares of the company’s stock worth $6,139,000 after buying an additional 717,084 shares during the period. Finally, BNP Paribas Financial Markets increased its stake in Yalla Group by 10.3% during the third quarter. BNP Paribas Financial Markets now owns 695,205 shares of the company’s stock worth $5,221,000 after acquiring an additional 65,058 shares during the last quarter. 4.73% of the stock is owned by hedge funds and other institutional investors.

Yalla Group Company Profile

Yalla Group (NYSE:YALA) operates a voice-centric social networking and entertainment platform designed to connect users through live audio chat rooms, interactive voice channels and mobile gaming. Its core product, the Yalla app, allows participants in the Middle East and North Africa (MENA) region to join real-time voice discussion groups, host audio shows and send virtual gifts. Through the PokerBROS brand, the company offers a mobile-first social poker platform featuring Texas Hold’em, Chinese Poker and other variants, enabling casual and competitive gaming among a growing user base.

Founded in 2016 and incorporated in the Cayman Islands, Yalla Group established its headquarters in Riyadh with additional offices in Dubai and Asia.