Yalla Group Limited Sponsored ADR $YALA Shares Sold by JPMorgan Chase & Co.

JPMorgan Chase & Co. lowered its stake in shares of Yalla Group Limited Sponsored ADR (NYSE:YALA) by 21.4% during the third quarter, according to the company in its most recent disclosure with the Securities & Exchange Commission. The fund owned 327,662 shares of the company’s stock after selling 89,194 shares during the period. JPMorgan Chase & Co. owned 0.21% of Yalla Group worth $2,461,000 as of its most recent SEC filing.

A number of other large investors have also made changes to their positions in the stock. Arrowstreet Capital Limited Partnership boosted its stake in shares of Yalla Group by 1,075.9% during the second quarter. Arrowstreet Capital Limited Partnership now owns 1,981,119 shares of the company’s stock valued at $13,353,000 after acquiring an additional 1,812,642 shares during the last quarter. Robeco Institutional Asset Management B.V. boosted its stake in shares of Yalla Group by 58.7% during the third quarter. Robeco Institutional Asset Management B.V. now owns 992,414 shares of the company’s stock valued at $7,453,000 after acquiring an additional 367,249 shares during the last quarter. Barclays PLC boosted its stake in shares of Yalla Group by 714.8% during the third quarter. Barclays PLC now owns 817,404 shares of the company’s stock valued at $6,139,000 after acquiring an additional 717,084 shares during the last quarter. BNP Paribas Financial Markets boosted its stake in shares of Yalla Group by 10.3% during the third quarter. BNP Paribas Financial Markets now owns 695,205 shares of the company’s stock valued at $5,221,000 after acquiring an additional 65,058 shares during the last quarter. Finally, Ariose Capital Management Ltd boosted its stake in shares of Yalla Group by 3.0% during the third quarter. Ariose Capital Management Ltd now owns 582,234 shares of the company’s stock valued at $4,373,000 after acquiring an additional 17,200 shares during the last quarter. Institutional investors and hedge funds own 4.73% of the company’s stock.

Yalla Group Trading Down 0.2%

Shares of NYSE:YALA opened at $6.37 on Tuesday. The stock’s 50-day moving average price is $6.79 and its two-hundred day moving average price is $7.02. Yalla Group Limited Sponsored ADR has a 12-month low of $4.70 and a 12-month high of $9.29. The firm has a market cap of $1.01 billion, a price-to-earnings ratio of 7.67 and a beta of 0.43.

Yalla Group (NYSE:YALA) last issued its quarterly earnings results on Saturday, February 14th. The company reported $0.21 earnings per share (EPS) for the quarter. Yalla Group had a return on equity of 19.67% and a net margin of 43.82%.The firm had revenue of $83.86 million for the quarter.

Yalla Group announced that its Board of Directors has initiated a share repurchase program on Monday, March 9th that allows the company to repurchase $150.00 million in outstanding shares. This repurchase authorization allows the company to purchase up to 13.6% of its shares through open market purchases. Shares repurchase programs are often an indication that the company’s management believes its shares are undervalued.

Wall Street Analyst Weigh In

Separately, Weiss Ratings reaffirmed a “hold (c+)” rating on shares of Yalla Group in a research note on Wednesday, January 21st. One equities research analyst has rated the stock with a Hold rating, According to data from MarketBeat, the company currently has an average rating of “Hold”.

Yalla Group 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.