Yalla Group (NYSE:YALA) Reaches New 52-Week Low – Time to Sell?

Yalla Group Limited Sponsored ADR (NYSE:YALA – Get Free Report) shares reached a new 52-week low during mid-day trading on Friday . The stock traded as low as $5.32 and last traded at $5.2950, with a volume of 79046 shares changing hands. The stock had previously closed at $5.43.

Yalla Group Trading Down 2.3%

The company has a 50 day simple moving average of $6.47 and a 200-day simple moving average of $6.79. The stock has a market cap of $811.46 million, a price-to-earnings ratio of 6.72 and a beta of 0.46.

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Yalla Group (NYSE:YALA – Get Free Report) last released its quarterly earnings results on Saturday, February 14th. The company reported $0.21 earnings per share (EPS) for the quarter. The firm had revenue of $83.86 million for the quarter. Yalla Group had a return on equity of 18.03% and a net margin of 42.03%.

Yalla Group announced that its board has initiated a share repurchase plan on Monday, March 9th that authorizes the company to repurchase $150.00 million in outstanding shares. This repurchase authorization authorizes the company to buy up to 13.6% of its shares through open market purchases. Shares repurchase plans are usually an indication that the company’s board believes its shares are undervalued.

Institutional Trading of Yalla Group

A number of hedge funds and other institutional investors have recently modified their holdings of the stock. ACT Capital Management LLC bought a new stake in shares of Yalla Group in the fourth quarter valued at approximately $35,000. EverSource Wealth Advisors LLC increased its holdings in Yalla Group by 73.7% in the second quarter. EverSource Wealth Advisors LLC now owns 6,481 shares of the company’s stock valued at $44,000 after purchasing an additional 2,749 shares during the period. Mirae Asset Global Investments Co. Ltd. acquired a new stake in Yalla Group in the third quarter valued at $71,000. Verition Fund Management LLC acquired a new stake in Yalla Group during the 4th quarter worth about $73,000. Finally, Cresset Asset Management LLC acquired a new stake in Yalla Group during the 3rd quarter worth about $82,000. Institutional investors and hedge funds own 4.73% of the company’s stock.

About Yalla Group

(Get Free Report)

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.

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