Yalla Group (NYSE:YALA) Reaches New 52-Week Low – Here’s What Happened

Yalla Group Limited Sponsored ADR (NYSE:YALA) hit a new 52-week low on Thursday . The company traded as low as $5.94 and last traded at $5.96, with a volume of 296201 shares trading hands. The stock had previously closed at $6.07.

Yalla Group Trading Down 2.2%

The business has a 50 day simple moving average of $6.54 and a two-hundred day simple moving average of $6.85. The stock has a market cap of $907.66 million, a price-to-earnings ratio of 7.51 and a beta of 0.51.

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

Yalla Group announced that its Board of Directors has initiated a stock repurchase program on Monday, March 9th that authorizes the company to repurchase $150.00 million in outstanding shares. This repurchase authorization authorizes the company to reacquire up to 13.6% of its shares through open market purchases. Shares repurchase programs are generally an indication that the company’s management believes its stock is undervalued.

Institutional Trading of Yalla Group

Hedge funds have recently added to or reduced their stakes in the business. ACT Capital Management LLC bought a new stake in Yalla Group during the 4th quarter valued at $35,000. EverSource Wealth Advisors LLC raised its stake in Yalla Group by 73.7% during 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. Mirae Asset Global Investments Co. Ltd. bought a new stake in Yalla Group during the 3rd quarter valued at $71,000. Verition Fund Management LLC bought a new stake in Yalla Group during the 4th quarter valued at $73,000. Finally, Cresset Asset Management LLC bought a new stake in Yalla Group during the 3rd quarter valued at $82,000. Institutional investors own 4.73% of the company’s stock.

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.