Yalla Group (NYSE:YALA) Shares Gap Down – Here’s What Happened

Shares of Yalla Group Limited (NYSE:YALA) gapped down prior to trading on Tuesday . The stock had previously closed at $7.82, but opened at $5.90. Yalla Group shares last traded at $7.35, with a volume of 1,447,283 shares.

Yalla Group Stock Down 5.4%

The stock has a market capitalization of $1.17 billion, a PE ratio of 10.09 and a beta of 0.88. The firm’s fifty day moving average price is $6.27 and its two-hundred day moving average price is $4.89.

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

Institutional Trading of Yalla Group

Several institutional investors have recently made changes to their positions in the business. Goldman Sachs Group Inc. grew its holdings in Yalla Group by 64.6% during the 1st quarter. Goldman Sachs Group Inc. now owns 104,475 shares of the company’s stock valued at $545,000 after buying an additional 41,003 shares in the last quarter. Vident Advisory LLC boosted its position in shares of Yalla Group by 190.7% during the first quarter. Vident Advisory LLC now owns 455,808 shares of the company’s stock worth $2,379,000 after acquiring an additional 298,985 shares during the last quarter. Jump Financial LLC boosted its position in shares of Yalla Group by 31.4% during the first quarter. Jump Financial LLC now owns 62,000 shares of the company’s stock worth $324,000 after acquiring an additional 14,800 shares during the last quarter. E Fund Management Co. Ltd. purchased a new position in Yalla Group during the first quarter valued at $644,000. Finally, Virtu Financial LLC bought a new stake in Yalla Group in the 1st quarter valued at $61,000. Hedge funds and other institutional investors own 4.73% of the company’s stock.

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.