Yalla Group (NYSE:YALA) Sets New 1-Year Low – Here’s What Happened

Yalla Group Limited Sponsored ADR (NYSE:YALA)’s stock price hit a new 52-week low on Wednesday . The company traded as low as $5.13 and last traded at $5.23, with a volume of 329076 shares traded. The stock had previously closed at $5.19.

Yalla Group Stock Up 0.8%

The company has a market cap of $799.98 million, a PE ratio of 6.62 and a beta of 0.46. The company has a 50-day moving average of $6.20 and a 200-day moving average of $6.64.

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

Yalla Group declared that its board has approved a share repurchase plan on Monday, March 9th that permits the company to buyback $150.00 million in shares. This buyback authorization permits the company to repurchase up to 13.6% of its stock through open market purchases. Stock buyback plans are generally a sign that the company’s board of directors believes its shares are undervalued.

Institutional Investors Weigh In On Yalla Group

A number of large investors have recently added to or reduced their stakes in YALA. FIL Ltd bought a new position in shares of Yalla Group during the 4th quarter valued at $14,053,000. State Street Corp lifted its holdings in Yalla Group by 6.2% in the fourth quarter. State Street Corp now owns 1,516,319 shares of the company’s stock worth $10,523,000 after buying an additional 89,011 shares during the period. Barclays PLC raised its holdings in Yalla Group by 46.9% in the fourth quarter. Barclays PLC now owns 1,200,915 shares of the company’s stock worth $8,334,000 after purchasing an additional 383,511 shares in the last quarter. BNP Paribas Financial Markets grew its stake in shares of Yalla Group by 10.3% in the 3rd quarter. BNP Paribas Financial Markets now owns 695,205 shares of the company’s stock worth $5,221,000 after buying an additional 65,058 shares during the last quarter. Finally, Seizert Capital Partners LLC increased its holdings in shares of Yalla Group by 88.0% during the fourth quarter. Seizert Capital Partners LLC now owns 482,976 shares of the company’s stock valued at $3,352,000 after acquiring an additional 226,139 shares in the last quarter. Hedge funds and other institutional investors own 4.73% of the company’s stock.

About Yalla Group

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.