Yalla Group (NYSE:YALA) Shares Gap Up – Time to Buy?

Shares of Yalla Group Limited (NYSE:YALA) gapped up prior to trading on Friday . The stock had previously closed at $5.63, but opened at $5.78. Yalla Group shares last traded at $5.70, with a volume of 148,037 shares trading hands.

Yalla Group Price Performance

The firm has a market cap of $887.05 million, a price-to-earnings ratio of 7.66 and a beta of 1.19. The stock has a 50-day moving average of $4.32 and a 200-day moving average of $4.27.

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

Institutional Investors Weigh In On Yalla Group

A number of large investors have recently modified their holdings of the business. QRG Capital Management Inc. raised its holdings in shares of Yalla Group by 14.7% during the 4th quarter. QRG Capital Management Inc. now owns 23,400 shares of the company’s stock worth $95,000 after buying an additional 2,996 shares in the last quarter. State Street Corp raised its stake in Yalla Group by 1.5% during the third quarter. State Street Corp now owns 538,689 shares of the company’s stock worth $2,446,000 after acquiring an additional 7,924 shares in the last quarter. Blue Trust Inc. lifted its holdings in shares of Yalla Group by 29.7% in the fourth quarter. Blue Trust Inc. now owns 40,929 shares of the company’s stock worth $166,000 after acquiring an additional 9,366 shares during the last quarter. Public Employees Retirement System of Ohio acquired a new stake in shares of Yalla Group in the 3rd quarter valued at approximately $53,000. Finally, Jump Financial LLC grew its holdings in shares of Yalla Group by 36.3% during the 4th quarter. Jump Financial LLC now owns 47,200 shares of the company’s stock valued at $192,000 after purchasing an additional 12,571 shares during the last quarter. Institutional investors and hedge funds 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.