Yalla Group (NYSE:YALA) Reaches New 52-Week Low – Time to Sell?

Yalla Group Limited Sponsored ADR (NYSE:YALA)’s share price hit a new 52-week low on Friday . The company traded as low as $5.32 and last traded at $5.2950, with a volume of 79046 shares traded. The stock had previously closed at $5.43.

Yalla Group Stock Performance

The stock has a fifty day simple moving average of $6.47 and a two-hundred day simple moving average of $6.79. The stock has a market capitalization of $811.46 million, a price-to-earnings ratio of 6.72 and a beta of 0.46.

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

Yalla Group announced that its Board of Directors has authorized a share buyback program on Monday, March 9th that allows the company to buyback $150.00 million in shares. This buyback authorization allows the company to purchase up to 13.6% of its stock through open market purchases. Stock buyback programs are generally an indication that the company’s management believes its stock is undervalued.

Institutional Trading of Yalla Group

Several large investors have recently made changes to their positions in YALA. Blue Trust Inc. lifted its position in Yalla Group by 19.0% in the 4th quarter. Blue Trust Inc. now owns 12,251 shares of the company’s stock valued at $85,000 after acquiring an additional 1,959 shares in the last quarter. MIRAE ASSET GLOBAL ETFS HOLDINGS Ltd. lifted its position in Yalla Group by 4.8% in the 3rd quarter. MIRAE ASSET GLOBAL ETFS HOLDINGS Ltd. now owns 43,905 shares of the company’s stock valued at $330,000 after acquiring an additional 2,004 shares in the last quarter. EverSource Wealth Advisors LLC lifted its position in 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 acquiring an additional 2,749 shares in the last quarter. QRG Capital Management Inc. lifted its position in shares of Yalla Group by 14.4% during the 1st 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 in the last quarter. Finally, Geode Capital Management LLC lifted its position in shares of Yalla Group by 10.7% during the 4th quarter. Geode Capital Management LLC now owns 32,200 shares of the company’s stock worth $223,000 after buying an additional 3,105 shares in the last quarter. 4.73% of the stock is currently owned by institutional investors and hedge funds.

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.