Acadian Asset Management LLC Buys 497,724 Shares of Yalla Group Limited (NYSE:YALA)

Acadian Asset Management LLC grew its stake in Yalla Group Limited (NYSE:YALA) by 44.1% in the 1st quarter, according to its most recent 13F filing with the Securities and Exchange Commission (SEC). The institutional investor owned 1,627,088 shares of the company’s stock after acquiring an additional 497,724 shares during the period. Acadian Asset Management LLC owned 1.04% of Yalla Group worth $7,800,000 at the end of the most recent quarter.

Other hedge funds also recently modified their holdings of the company. Blue Trust Inc. lifted its position in Yalla Group by 3,564.8% during the fourth quarter. Blue Trust Inc. now owns 4,691 shares of the company’s stock worth $29,000 after acquiring an additional 4,563 shares during the last quarter. GAMMA Investing LLC acquired a new stake in shares of Yalla Group in the fourth quarter valued at approximately $33,000. Tucker Asset Management LLC acquired a new stake in shares of Yalla Group in the fourth quarter valued at approximately $44,000. Exchange Traded Concepts LLC acquired a new stake in shares of Yalla Group in the fourth quarter valued at approximately $45,000. Finally, OVERSEA CHINESE BANKING Corp Ltd acquired a new stake in shares of Yalla Group in the fourth quarter valued at approximately $71,000. Institutional investors own 4.73% of the company’s stock.

Yalla Group Price Performance

YALA traded up $0.04 during trading on Monday, hitting $4.45. 107,297 shares of the stock traded hands, compared to its average volume of 261,309. Yalla Group Limited has a twelve month low of $4.39 and a twelve month high of $6.44. The company has a market cap of $705.50 million, a price-to-earnings ratio of 6.30 and a beta of 1.17. The business has a 50 day moving average price of $4.65 and a 200 day moving average price of $4.88.

Yalla Group (NYSE:YALA) last announced its quarterly earnings data on Monday, May 20th. The company reported $0.17 EPS for the quarter. Yalla Group had a net margin of 39.64% and a return on equity of 23.49%. The business had revenue of $78.73 million during the quarter.

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.