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

Yalla Group Limited (NYSE:YALA) shares gapped down prior to trading on Monday . The stock had previously closed at $6.90, but opened at $6.69. Yalla Group shares last traded at $6.71, with a volume of 213,758 shares.

Yalla Group Trading Down 2.9%

The business’s 50-day moving average is $6.66 and its two-hundred day moving average is $5.08. The firm has a market cap of $1.06 billion, a P/E ratio of 9.18 and a beta of 0.88.

Yalla Group (NYSE:YALA) last released its quarterly earnings data on Monday, May 19th. The company reported $0.22 earnings per share for the quarter. The firm had revenue of $83.88 million for the quarter. Yalla Group had a net margin of 40.72% and a return on equity of 21.80%.

Institutional Inflows and Outflows

Several hedge funds and other institutional investors have recently bought and sold shares of YALA. Virtu Financial LLC acquired a new stake in shares of Yalla Group in the first quarter valued at approximately $61,000. Dynamic Technology Lab Private Ltd bought a new stake in shares of Yalla Group in the fourth quarter valued at about $74,000. QRG Capital Management Inc. boosted its position in shares of Yalla Group by 14.7% in the fourth quarter. QRG Capital Management Inc. now owns 23,400 shares of the company’s stock valued at $95,000 after acquiring an additional 2,996 shares during the period. Cubist Systematic Strategies LLC bought a new stake in shares of Yalla Group in the fourth quarter valued at about $99,000. Finally, Public Employees Retirement System of Ohio lifted its position in Yalla Group by 123.9% during the fourth quarter. Public Employees Retirement System of Ohio now owns 26,173 shares of the company’s stock worth $106,000 after purchasing an additional 14,483 shares during the period. Institutional investors own 4.73% of the company’s stock.

Yalla Group Company Profile

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.