Yalla Group (NYSE:YALA) Shares Down 1.7% – Time to Sell?

Shares of Yalla Group Limited (NYSE:YALA) dropped 1.7% on Friday . The stock traded as low as $4.62 and last traded at $4.72. Approximately 176,460 shares changed hands during mid-day trading, a decline of 21% from the average daily volume of 223,833 shares. The stock had previously closed at $4.80.

Yalla Group Trading Down 2.4 %

The firm has a 50 day simple moving average of $4.08 and a two-hundred day simple moving average of $4.20. The company has a market capitalization of $742.77 million, a PE ratio of 6.42 and a beta of 1.19.

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

Institutional Inflows and Outflows

A number of institutional investors and hedge funds have recently modified their holdings of YALA. Public Employees Retirement System of Ohio grew its holdings in shares of Yalla Group by 123.9% during the 4th 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. Vident Advisory LLC grew its position in shares of Yalla Group by 180.3% during the fourth quarter. Vident Advisory LLC now owns 156,823 shares of the company’s stock worth $637,000 after acquiring an additional 100,872 shares during the last quarter. Millennium Management LLC boosted its stake in Yalla Group by 57.9% during the 4th quarter. Millennium Management LLC now owns 585,284 shares of the company’s stock valued at $2,376,000 after purchasing an additional 214,625 shares during the period. Cubist Systematic Strategies LLC acquired a new position in Yalla Group during the 4th quarter valued at about $99,000. Finally, BNP Paribas Financial Markets acquired a new stake in shares of Yalla Group in the 4th quarter worth approximately $1,838,000. 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.