Yalla Group (NYSE:YALA) Reaches New 52-Week Low – Here’s What Happened

Yalla Group Limited Sponsored ADR (NYSE:YALA) shares reached a new 52-week low during trading on Thursday . The stock traded as low as $5.94 and last traded at $5.96, with a volume of 296201 shares trading hands. The stock had previously closed at $6.07.

Yalla Group Stock Performance

The firm has a fifty day moving average price of $6.54 and a 200 day moving average price of $6.85. The firm has a market capitalization of $907.66 million, a price-to-earnings ratio of 7.51 and a beta of 0.51.

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

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

Institutional Investors Weigh In On Yalla Group

Several institutional investors and hedge funds have recently added to or reduced their stakes in the company. ACT Capital Management LLC acquired a new stake in shares of Yalla Group in the fourth quarter valued at about $35,000. EverSource Wealth Advisors LLC grew its stake in shares of 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 buying an additional 2,749 shares in the last quarter. Mirae Asset Global Investments Co. Ltd. acquired a new stake in Yalla Group during the 3rd quarter valued at approximately $71,000. Verition Fund Management LLC acquired a new stake in Yalla Group during the 4th quarter valued at approximately $73,000. Finally, Cresset Asset Management LLC acquired a new stake in Yalla Group during the 3rd quarter valued at approximately $82,000. 4.73% of the stock is currently owned by institutional investors and hedge funds.

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.