Yalla Group (NYSE:YALA) Shares Gap Down – Should You Sell?

Yalla Group Limited Sponsored ADR (NYSE:YALA) gapped down prior to trading on Tuesday . The stock had previously closed at $6.77, but opened at $6.11. Yalla Group shares last traded at $6.5820, with a volume of 101,767 shares traded.

Wall Street Analyst Weigh In

Separately, Weiss Ratings reaffirmed a “hold (c+)” rating on shares of Yalla Group in a research note on Wednesday, January 21st. One investment analyst has rated the stock with a Hold rating, Based on data from MarketBeat, Yalla Group has an average rating of “Hold”.

Yalla Group Stock Down 3.8%

The business has a 50 day moving average of $6.57 and a 200 day moving average of $6.90. The company has a market capitalization of $930.00 million, a P/E ratio of 7.70 and a beta of 0.51.

Yalla Group (NYSE:YALA) last announced 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 18.36% and a net margin of 42.03%.The company had revenue of $83.86 million during the quarter.

Yalla Group declared that its Board of Directors 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 shares through open market purchases. Shares buyback plans are typically an indication that the company’s management believes its shares are undervalued.

Institutional Investors Weigh In On Yalla Group

Institutional investors have recently modified their holdings of the stock. ACT Capital Management LLC bought a new stake in shares of Yalla Group in the 4th quarter valued at approximately $35,000. EverSource Wealth Advisors LLC lifted its stake in shares of Yalla Group by 73.7% in the 2nd quarter. EverSource Wealth Advisors LLC now owns 6,481 shares of the company’s stock valued at $44,000 after purchasing an additional 2,749 shares during the last quarter. Mirae Asset Global Investments Co. Ltd. bought a new stake in shares of Yalla Group in the 3rd quarter valued at approximately $71,000. Verition Fund Management LLC bought a new stake in shares of Yalla Group in the 4th quarter valued at approximately $73,000. Finally, Cresset Asset Management LLC bought a new stake in shares of Yalla Group in the 3rd quarter valued at approximately $82,000. 4.73% of the stock is owned by institutional investors.

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.