Yalla Group (NYSE:YALA) Hits New 12-Month Low – Here’s What Happened

Yalla Group Limited Sponsored ADR (NYSE:YALA) hit a new 52-week low during mid-day trading on Thursday . The company traded as low as $5.23 and last traded at $5.2750, with a volume of 267913 shares trading hands. The stock had previously closed at $5.32.

Yalla Group Stock Down 0.8%

The company has a market cap of $806.86 million, a P/E ratio of 6.68 and a beta of 0.46. The firm has a 50 day moving average of $6.31 and a 200-day moving average of $6.69.

Yalla Group (NYSE:YALA) last issued its earnings results on Saturday, February 14th. The company reported $0.21 earnings per share for the quarter. The business had revenue of $83.86 million during the quarter. Yalla Group had a return on equity of 18.03% and a net margin of 42.03%.

Yalla Group declared that its Board of Directors has initiated a stock buyback program on Monday, March 9th that allows the company to buyback $150.00 million in outstanding shares. This buyback authorization allows the company to repurchase up to 13.6% of its stock through open market purchases. Stock buyback programs are generally an indication that the company’s board of directors believes its shares are undervalued.

Institutional Investors Weigh In On Yalla Group

Several large investors have recently modified their holdings of the business. Blue Trust Inc. boosted its stake 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 purchasing an additional 1,959 shares in the last quarter. MIRAE ASSET GLOBAL ETFS HOLDINGS Ltd. raised its stake in Yalla Group by 4.8% in the third quarter. MIRAE ASSET GLOBAL ETFS HOLDINGS Ltd. now owns 43,905 shares of the company’s stock worth $330,000 after buying an additional 2,004 shares in the last quarter. EverSource Wealth Advisors LLC raised its stake in Yalla Group by 73.7% in the second quarter. EverSource Wealth Advisors LLC now owns 6,481 shares of the company’s stock worth $44,000 after buying an additional 2,749 shares in the last quarter. QRG Capital Management Inc. lifted its holdings in Yalla Group by 14.4% during the first quarter. QRG Capital Management Inc. now owns 22,814 shares of the company’s stock worth $142,000 after buying an additional 2,863 shares during the period. Finally, Geode Capital Management LLC boosted its position in Yalla Group by 10.7% during the 4th quarter. Geode Capital Management LLC now owns 32,200 shares of the company’s stock valued at $223,000 after acquiring an additional 3,105 shares in the last quarter. Institutional investors own 4.73% of the company’s stock.

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.