Yalla Group (NYSE:YALA) Sees Unusually-High Trading Volume – Still a Buy?

Yalla Group Limited (NYSE:YALA) shares saw strong trading volume on Friday . 279,156 shares were traded during mid-day trading, an increase of 12% from the previous session’s volume of 250,013 shares.The stock last traded at $4.20 and had previously closed at $4.23.

Yalla Group Price Performance

The company’s 50-day moving average price is $4.31 and its two-hundred day moving average price is $4.37. The company has a market capitalization of $675.38 million, a P/E ratio of 5.79 and a beta of 1.19.

Institutional Investors Weigh In On Yalla Group

Several institutional investors have recently made changes to their positions in YALA. Acadian Asset Management LLC grew its holdings in shares of Yalla Group by 16.4% during the 2nd quarter. Acadian Asset Management LLC now owns 1,894,487 shares of the company’s stock worth $8,592,000 after purchasing an additional 267,399 shares in the last quarter. State Street Corp lifted its position in shares of Yalla Group by 1.5% during the 3rd quarter. State Street Corp now owns 538,689 shares of the company’s stock worth $2,446,000 after buying an additional 7,924 shares during the last quarter. GSA Capital Partners LLP lifted its position in shares of Yalla Group by 19.4% during the 3rd quarter. GSA Capital Partners LLP now owns 300,462 shares of the company’s stock worth $1,364,000 after buying an additional 48,831 shares during the last quarter. Robeco Institutional Asset Management B.V. lifted its position in shares of Yalla Group by 81.9% during the 3rd quarter. Robeco Institutional Asset Management B.V. now owns 131,899 shares of the company’s stock worth $599,000 after buying an additional 59,378 shares during the last quarter. Finally, Russell Investments Group Ltd. lifted its position in shares of Yalla Group by 9.0% during the 1st quarter. Russell Investments Group Ltd. now owns 52,028 shares of the company’s stock worth $251,000 after buying an additional 4,286 shares during the last quarter. 4.73% of the stock is currently owned by institutional investors.

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.