Yalla Group Limited (NYSE:YALA – Get Free Report)’s share price hit a new 52-week high during trading on Wednesday . The company traded as high as $5.93 and last traded at $5.90, with a volume of 76334 shares changing hands. The stock had previously closed at $5.66.
Wall Street Analyst Weigh In
Separately, TheStreet raised Yalla Group from a “d+” rating to a “c+” rating in a research report on Friday, September 29th.
Yalla Group Trading Down 2.2 %
Yalla Group (NYSE:YALA – Get Free Report) last released its earnings results on Monday, August 14th. The company reported $0.16 earnings per share for the quarter. Yalla Group had a net margin of 29.66% and a return on equity of 20.06%. The business had revenue of $79.25 million during the quarter.
Hedge Funds Weigh In On Yalla Group
Hedge funds have recently modified their holdings of the stock. Envestnet Asset Management Inc. grew its stake in Yalla Group by 18.9% in the first quarter. Envestnet Asset Management Inc. now owns 18,302 shares of the company’s stock valued at $82,000 after purchasing an additional 2,903 shares in the last quarter. XTX Topco Ltd acquired a new stake in shares of Yalla Group in the first quarter valued at approximately $119,000. Wellington Management Group LLP lifted its holdings in Yalla Group by 62.9% during the 1st quarter. Wellington Management Group LLP now owns 753,441 shares of the company’s stock valued at $3,375,000 after purchasing an additional 291,012 shares during the last quarter. Goldman Sachs Group Inc. increased its holdings in shares of Yalla Group by 16.4% in the first quarter. Goldman Sachs Group Inc. now owns 29,700 shares of the company’s stock valued at $133,000 after purchasing an additional 4,195 shares during the last quarter. Finally, JPMorgan Chase & Co. acquired a new stake in shares of Yalla Group during the 2nd quarter worth about $253,000. Institutional investors own 4.73% of the company’s stock.
Yalla Group Company Profile
Yalla Group Limited operates a social networking and entertainment 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.
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