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

Yalla Group Limited (NYSE:YALA)’s share price gapped up before the market opened on Monday . The stock had previously closed at $7.76, but opened at $7.99. Yalla Group shares last traded at $7.98, with a volume of 601,940 shares trading hands.

Yalla Group Stock Up 2.1 %

The stock has a 50 day simple moving average of $5.16 and a 200 day simple moving average of $4.52. The stock has a market cap of $1.26 billion, a price-to-earnings ratio of 10.84 and a beta of 0.96.

Yalla Group (NYSE:YALA) last posted its earnings results on Monday, March 10th. The company reported $0.18 earnings per share for the quarter. The firm had revenue of $90.83 million for the quarter. Yalla Group had a return on equity of 21.80% and a net margin of 40.72%. During the same quarter last year, the company posted $0.17 EPS.

Institutional Trading of Yalla Group

A number of institutional investors have recently bought and sold shares of YALA. QRG Capital Management Inc. lifted its holdings in shares of Yalla Group by 14.7% during the 4th quarter. QRG Capital Management Inc. now owns 23,400 shares of the company’s stock valued at $95,000 after purchasing an additional 2,996 shares during the last quarter. Blue Trust Inc. increased its stake in Yalla Group by 29.7% during the fourth quarter. Blue Trust Inc. now owns 40,929 shares of the company’s stock worth $166,000 after acquiring an additional 9,366 shares during the last quarter. State Street Corp grew its stake in shares of Yalla Group by 1.5% in the third quarter. State Street Corp now owns 538,689 shares of the company’s stock worth $2,446,000 after acquiring an additional 7,924 shares in the last quarter. Russell Investments Group Ltd. increased its stake in Yalla Group by 113.7% in the fourth quarter. Russell Investments Group Ltd. now owns 105,334 shares of the company’s stock valued at $423,000 after purchasing an additional 56,046 shares during the last quarter. Finally, Robeco Institutional Asset Management B.V. raised its stake in shares of Yalla Group by 27.4% during the fourth quarter. Robeco Institutional Asset Management B.V. now owns 168,065 shares of the company’s stock worth $682,000 after purchasing an additional 36,166 shares during the last quarter. 4.73% of the stock is currently owned by institutional investors.

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.