Yalla Group (NYSE:YALA) Sees Large Volume Increase – Time to Buy?

Shares of Yalla Group Limited (NYSE:YALA) saw unusually-strong trading volume on Friday . Approximately 279,156 shares were traded during trading, an increase of 12% from the previous session’s volume of 250,013 shares.The stock last traded at $4.20 and had previously closed at $4.23.

Yalla Group Trading Up 0.7 %

The firm has a market capitalization of $675.38 million, a P/E ratio of 5.79 and a beta of 1.19. The firm has a 50-day moving average of $4.31 and a two-hundred day moving average of $4.37.

Hedge Funds Weigh In On Yalla Group

Several large investors have recently bought and sold shares of YALA. Russell Investments Group Ltd. raised its position in Yalla Group by 9.0% in the first quarter. Russell Investments Group Ltd. now owns 52,028 shares of the company’s stock valued at $251,000 after purchasing an additional 4,286 shares during the last quarter. EverSource Wealth Advisors LLC raised its position in shares of Yalla Group by 1,104.3% during the first quarter. EverSource Wealth Advisors LLC now owns 5,576 shares of the company’s stock worth $26,000 after acquiring an additional 5,113 shares during the last quarter. Blue Trust Inc. raised its position in shares of Yalla Group by 36,378.6% during the second quarter. Blue Trust Inc. now owns 10,214 shares of the company’s stock worth $49,000 after acquiring an additional 10,186 shares during the last quarter. Acadian Asset Management LLC raised its position in shares of Yalla Group by 16.4% during the second quarter. Acadian Asset Management LLC now owns 1,894,487 shares of the company’s stock worth $8,592,000 after acquiring an additional 267,399 shares during the last quarter. Finally, GAMMA Investing LLC raised its position in shares of Yalla Group by 145.1% during the third quarter. GAMMA Investing LLC now owns 9,288 shares of the company’s stock worth $42,000 after acquiring an additional 5,498 shares during the last quarter. 4.73% of the stock is currently owned by institutional investors.

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.