Yalla Group Limited Sponsored ADR (NYSE:YALA – Get Free Report)’s share price rose 0.9% on Wednesday . The company traded as high as $5.45 and last traded at $5.4310. Approximately 324,580 shares changed hands during mid-day trading, an increase of 23% from the average session volume of 263,090 shares. The stock had previously closed at $5.38.
Yalla Group Stock Up 0.7%
The business’s 50 day simple moving average is $5.73 and its two-hundred day simple moving average is $6.44. The stock has a market cap of $827.51 million, a P/E ratio of 6.84 and a beta of 0.44.
Hedge Funds Weigh In On Yalla Group
A number of institutional investors and hedge funds have recently bought and sold shares of YALA. ACT Capital Management LLC bought a new stake in shares of Yalla Group during the fourth quarter worth about $35,000. EverSource Wealth Advisors LLC raised its holdings in Yalla Group by 73.7% in the 2nd quarter. EverSource Wealth Advisors LLC now owns 6,481 shares of the company’s stock valued at $44,000 after buying an additional 2,749 shares during the last quarter. Verition Fund Management LLC bought a new position in Yalla Group in the 4th quarter valued at approximately $73,000. Cresset Asset Management LLC acquired a new stake in Yalla Group during the 3rd quarter worth approximately $82,000. Finally, Blue Trust Inc. boosted its position in Yalla Group by 19.0% during the 4th quarter. Blue Trust Inc. now owns 12,251 shares of the company’s stock worth $85,000 after buying an additional 1,959 shares during the period. Institutional investors and hedge funds 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.
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