Yalla Group (NYSE:YALA) Stock Price Down 5.1% – Should You Sell?

Shares of Yalla Group Limited Sponsored ADR (NYSE:YALA) were down 5.1% during mid-day trading on Wednesday . The company traded as low as $6.05 and last traded at $6.00. Approximately 295,775 shares were traded during trading, an increase of 4% from the average daily volume of 285,386 shares. The stock had previously closed at $6.32.

Yalla Group Stock Performance

The company’s 50 day moving average is $6.56 and its 200 day moving average is $6.89. The stock has a market capitalization of $949.88 million, a price-to-earnings ratio of 7.86 and a beta of 0.51.

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

Yalla Group announced that its board has authorized a share repurchase program on Monday, March 9th that permits the company to buyback $150.00 million in outstanding shares. This buyback authorization permits the company to repurchase up to 13.6% of its shares through open market purchases. Shares buyback programs are typically an indication that the company’s leadership believes its shares are undervalued.

Hedge Funds Weigh In On Yalla Group

Several large investors have recently added to or reduced their stakes in YALA. Seizert Capital Partners LLC grew its holdings in shares of Yalla Group by 88.0% during the 4th quarter. Seizert Capital Partners LLC now owns 482,976 shares of the company’s stock worth $3,352,000 after purchasing an additional 226,139 shares in the last quarter. OLP CAPITAL MANAGEMENT Ltd acquired a new position in shares of Yalla Group in the third quarter valued at $2,876,000. Lazard Asset Management LLC bought a new position in Yalla Group in the first quarter worth $83,000. QRG Capital Management Inc. lifted its position in Yalla Group by 14.4% in the first quarter. QRG Capital Management Inc. now owns 22,814 shares of the company’s stock worth $142,000 after purchasing an additional 2,863 shares during the period. Finally, DGS Capital Management LLC boosted its stake in Yalla Group by 9.0% during the first quarter. DGS Capital Management LLC now owns 56,783 shares of the company’s stock worth $354,000 after buying an additional 4,712 shares in the last quarter. 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.