Yalla Group (NYSE:YALA) Hits New 12-Month Low – Here’s What Happened

Yalla Group Limited Sponsored ADR (NYSE:YALA)’s share price reached a new 52-week low during trading on Friday . The stock 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 firm has a market cap of $814.97 million, a P/E ratio of 6.74 and a beta of 0.46. The company has a 50-day moving average of $6.45 and a 200 day moving average of $6.78.

Yalla Group (NYSE:YALA) last posted its earnings results on Saturday, February 14th. The company reported $0.21 EPS for the quarter. The business 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 declared that its board has approved a stock buyback program on Monday, March 9th that authorizes the company to buyback $150.00 million in shares. This buyback authorization authorizes the company to reacquire up to 13.6% of its stock through open market purchases. Stock buyback programs are generally a sign that the company’s board of directors believes its shares are undervalued.

Hedge Funds Weigh In On Yalla Group

Several institutional investors have recently bought and sold shares of YALA. FIL Ltd bought a new position in Yalla Group in the 4th quarter valued at $14,053,000. Barclays PLC raised its position in Yalla Group by 714.8% in the 3rd quarter. Barclays PLC now owns 817,404 shares of the company’s stock valued at $6,139,000 after purchasing an additional 717,084 shares during the last quarter. JPMorgan Chase & Co. bought a new position in Yalla Group in the 2nd quarter valued at $2,810,000. OLP CAPITAL MANAGEMENT Ltd bought a new position in Yalla Group in the 3rd quarter valued at $2,876,000. Finally, Canada Pension Plan Investment Board bought a new position in Yalla Group in the 2nd quarter valued at $2,424,000. Institutional investors own 4.73% of the company’s stock.

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.