Yalla Group (NYSE:YALA) Shares Gap Down – Should You Sell?

Shares of Yalla Group Limited Sponsored ADR (NYSE:YALA) gapped down before the market opened on Tuesday . The stock had previously closed at $6.77, but opened at $6.11. Yalla Group shares last traded at $6.5820, with a volume of 101,767 shares trading hands.

Wall Street Analyst Weigh In

Separately, Weiss Ratings reiterated a “hold (c+)” rating on shares of Yalla Group in a research note on Wednesday, January 21st. One analyst has rated the stock with a Hold rating, According to MarketBeat, the stock presently has an average rating of “Hold”.

Yalla Group Trading Down 6.8%

The stock’s 50-day moving average is $6.60 and its 200-day moving average is $6.91. The stock has a market cap of $965.18 million, a P/E ratio of 7.60 and a beta of 0.51.

Yalla Group (NYSE:YALA) last issued its quarterly earnings results on Saturday, February 14th. The company reported $0.21 earnings per share (EPS) for the quarter. The firm had revenue of $83.86 million during the quarter. Yalla Group had a return on equity of 19.67% and a net margin of 43.82%.

Yalla Group declared that its Board of Directors has initiated a share repurchase plan on Monday, March 9th that permits the company to buyback $150.00 million in shares. This buyback authorization permits the company to purchase up to 13.6% of its shares through open market purchases. Shares buyback plans are generally an indication that the company’s board believes its stock is undervalued.

Hedge Funds Weigh In On Yalla Group

Several large investors have recently made changes to their positions in YALA. ACT Capital Management LLC bought a new stake in shares of Yalla Group during the 4th quarter worth $35,000. EverSource Wealth Advisors LLC boosted its stake in shares of Yalla Group by 73.7% during the 2nd quarter. EverSource Wealth Advisors LLC now owns 6,481 shares of the company’s stock worth $44,000 after acquiring an additional 2,749 shares in the last quarter. Mirae Asset Global Investments Co. Ltd. acquired a new position in shares of Yalla Group in the third quarter worth about $71,000. Verition Fund Management LLC acquired a new position in shares of Yalla Group in the fourth quarter worth about $73,000. Finally, Cresset Asset Management LLC acquired a new position in shares of Yalla Group in the third quarter worth about $82,000. 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.