Yalla Group (NYSE:YALA) Reaches New 1-Year Low – Here’s What Happened

Yalla Group Limited Sponsored ADR (NYSE:YALA) shares reached a new 52-week low during trading on Thursday . The company traded as low as $5.23 and last traded at $5.2750, with a volume of 267913 shares trading hands. The stock had previously closed at $5.32.

Yalla Group Trading Down 0.1%

The company has a 50 day moving average of $6.26 and a 200 day moving average of $6.67. The firm has a market cap of $806.86 million, a price-to-earnings ratio of 6.68 and a beta of 0.46.

Yalla Group (NYSE:YALA) last posted its 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 18.03% and a net margin of 42.03%.The firm had revenue of $83.86 million during the quarter.

Yalla Group declared that its board has authorized a stock buyback plan on Monday, March 9th that allows the company to buyback $150.00 million in outstanding shares. This buyback authorization allows the company to reacquire up to 13.6% of its stock through open market purchases. Stock buyback plans are often a sign that the company’s board of directors believes its stock is undervalued.

Institutional Trading of Yalla Group

Large investors have recently bought and sold shares of the business. FIL Ltd acquired a new stake in Yalla Group during the 4th quarter worth approximately $14,053,000. State Street Corp boosted its holdings in shares of Yalla Group by 6.2% in the fourth quarter. State Street Corp now owns 1,516,319 shares of the company’s stock valued at $10,523,000 after buying an additional 89,011 shares during the period. Barclays PLC boosted its holdings in shares of Yalla Group by 46.9% in the fourth quarter. Barclays PLC now owns 1,200,915 shares of the company’s stock valued at $8,334,000 after buying an additional 383,511 shares during the period. BNP Paribas Financial Markets increased its position 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 worth $5,221,000 after acquiring an additional 65,058 shares in the last quarter. Finally, Seizert Capital Partners LLC increased its position in shares of Yalla Group by 88.0% during the fourth quarter. Seizert Capital Partners LLC now owns 482,976 shares of the company’s stock worth $3,352,000 after acquiring an additional 226,139 shares in the last quarter. 4.73% of the stock is owned by institutional investors.

About Yalla Group

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.