Yalla Group (NYSE:YALA) Shares Gap Up – Still a Buy?

Yalla Group Limited (NYSE:YALA)’s share price gapped up before the market opened on Tuesday . The stock had previously closed at $4.02, but opened at $4.20. Yalla Group shares last traded at $4.19, with a volume of 74,529 shares trading hands.

Yalla Group Trading Up 5.4 %

The firm’s 50 day moving average price is $4.05 and its 200-day moving average price is $4.19. The company has a market cap of $701.55 million, a P/E ratio of 6.06 and a beta of 1.19.

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 period in the previous year, the business posted $0.17 earnings per share.

Institutional Investors Weigh In On Yalla Group

A number of institutional investors have recently made changes to their positions in YALA. GSA Capital Partners LLP boosted its holdings in Yalla Group by 19.4% during the third 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. Walleye Capital LLC acquired a new stake in shares of Yalla Group in the 3rd quarter valued at approximately $68,000. State Street Corp boosted its stake in 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 acquiring an additional 7,924 shares during the last quarter. Public Employees Retirement System of Ohio acquired a new position in Yalla Group during the third quarter valued at approximately $53,000. Finally, DGS Capital Management LLC increased its stake in Yalla Group by 109.0% in the third quarter. DGS Capital Management LLC now owns 76,785 shares of the company’s stock valued at $349,000 after purchasing an additional 40,050 shares in the last quarter. 4.73% of the stock is owned by institutional investors and hedge funds.

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.