Yalla Group (NYSE:YALA) Sees Large Volume Increase – Should You Buy?

Shares of Yalla Group Limited (NYSE:YALA) saw strong trading volume on Thursday . 263,910 shares traded hands during trading, an increase of 6% from the previous session’s volume of 249,703 shares.The stock last traded at $4.37 and had previously closed at $4.49.

Yalla Group Stock Performance

The stock has a 50 day moving average price of $4.29 and a 200 day moving average price of $4.38. The company has a market capitalization of $697.58 million, a P/E ratio of 6.03 and a beta of 1.19.

Institutional Investors Weigh In On Yalla Group

Hedge funds and other institutional investors have recently added to or reduced their stakes in the company. Acadian Asset Management LLC raised its stake in Yalla Group by 44.1% in the 1st quarter. Acadian Asset Management LLC now owns 1,627,088 shares of the company’s stock valued at $7,800,000 after acquiring an additional 497,724 shares during the period. GAMMA Investing LLC raised its stake in Yalla Group by 145.1% in the 3rd quarter. GAMMA Investing LLC now owns 9,288 shares of the company’s stock valued at $42,000 after acquiring an additional 5,498 shares during the period. Blue Trust Inc. raised its stake in Yalla Group by 209.0% in the 3rd quarter. Blue Trust Inc. now owns 31,563 shares of the company’s stock valued at $144,000 after acquiring an additional 21,349 shares during the period. Russell Investments Group Ltd. raised its stake in Yalla Group by 9.0% in the 1st quarter. Russell Investments Group Ltd. now owns 52,028 shares of the company’s stock valued at $251,000 after acquiring an additional 4,286 shares during the period. Finally, EverSource Wealth Advisors LLC raised its stake in Yalla Group by 1,104.3% in the 1st quarter. EverSource Wealth Advisors LLC now owns 5,576 shares of the company’s stock valued at $26,000 after acquiring an additional 5,113 shares during the period. 4.73% of the stock is currently owned by institutional investors.

Yalla Group Company Profile

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.