Yalla Group (NYSE:YALA) Trading Down 5.1% – Here’s Why

Yalla Group Limited Sponsored ADR (NYSE:YALA) shares dropped 5.1% during mid-day trading on Wednesday . The stock traded as low as $6.05 and last traded at $6.00. Approximately 295,775 shares changed hands during trading, an increase of 4% from the average daily volume of 285,386 shares. The stock had previously closed at $6.32.

Analysts Set New Price Targets

Separately, Weiss Ratings reiterated a “hold (c+)” rating on shares of Yalla Group in a research report on Wednesday, January 21st. One investment analyst has rated the stock with a Hold rating, According to MarketBeat.com, Yalla Group presently has an average rating of “Hold”.

Yalla Group Trading Down 4.7%

The business’s fifty day simple moving average is $6.59 and its 200-day simple moving average is $6.90. The firm has a market cap of $920.82 million, a P/E ratio of 7.62 and a beta of 0.51.

Yalla Group (NYSE:YALA) last issued its quarterly earnings data on Saturday, February 14th. The company reported $0.21 EPS for the quarter. The firm had revenue of $83.86 million during the quarter. Yalla Group had a net margin of 42.03% and a return on equity of 18.36%.

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

Institutional Investors Weigh In On Yalla Group

A number of large investors have recently made changes to their positions in YALA. Blue Trust Inc. raised its holdings in shares of Yalla Group by 19.0% during the fourth quarter. Blue Trust Inc. now owns 12,251 shares of the company’s stock valued at $85,000 after acquiring an additional 1,959 shares in the last quarter. MIRAE ASSET GLOBAL ETFS HOLDINGS Ltd. increased its position in Yalla Group by 4.8% during the 3rd quarter. MIRAE ASSET GLOBAL ETFS HOLDINGS Ltd. now owns 43,905 shares of the company’s stock valued at $330,000 after purchasing an additional 2,004 shares during the period. EverSource Wealth Advisors LLC increased its position in Yalla Group by 73.7% during the 2nd 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. QRG Capital Management Inc. raised its holdings in Yalla Group by 14.4% in the 1st quarter. QRG Capital Management Inc. now owns 22,814 shares of the company’s stock worth $142,000 after purchasing an additional 2,863 shares in the last quarter. Finally, Geode Capital Management LLC lifted its position in shares of Yalla Group by 10.7% in the 4th quarter. Geode Capital Management LLC now owns 32,200 shares of the company’s stock worth $223,000 after purchasing an additional 3,105 shares during the period. 4.73% of the stock is currently owned by institutional investors.

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.