Yalla Group (NYSE:YALA) Sees Strong Trading Volume - Here's What Happened

Yalla Group Limited (NYSE:YALA - Get Free Report) saw unusually-strong trading volume on Friday . Approximately 193,040 shares were traded during mid-day trading, a decline of 25% from the previous session's volume of 257,649 shares.The stock last traded at $4.38 and had previously closed at $4.30.

Yalla Group Price Performance

The business has a 50 day simple moving average of $4.29 and a 200 day simple moving average of $4.31. The stock has a market cap of $700.75 million, a PE ratio of 6.05 and a beta of 1.18.

Institutional Trading of Yalla Group

Large investors have recently added to or reduced their stakes in the business. Acadian Asset Management LLC increased its holdings in shares of Yalla Group by 16.4% during the 2nd quarter. Acadian Asset Management LLC now owns 1,894,487 shares of the company's stock valued at $8,592,000 after acquiring an additional 267,399 shares during the last quarter. Robeco Institutional Asset Management B.V. lifted its position in Yalla Group by 81.9% during the 3rd quarter. Robeco Institutional Asset Management B.V. now owns 131,899 shares of the company's stock worth $599,000 after acquiring an additional 59,378 shares during the last quarter. GSA Capital Partners LLP boosted its holdings in Yalla Group by 19.4% during the third quarter. GSA Capital Partners LLP now owns 300,462 shares of the company's stock valued at $1,364,000 after acquiring an additional 48,831 shares during the period. DGS Capital Management LLC grew its position in shares of Yalla Group by 109.0% in the third quarter. DGS Capital Management LLC now owns 76,785 shares of the company's stock valued at $349,000 after purchasing an additional 40,050 shares during the last quarter. Finally, Blue Trust Inc. increased its stake in shares of Yalla Group by 209.0% in the third quarter. Blue Trust Inc. now owns 31,563 shares of the company's stock worth $144,000 after purchasing an additional 21,349 shares during the period. 4.73% of the stock is owned by institutional investors.

About Yalla Group

Yalla Group Limited operates a social networking and gaming platform primarily in the Middle East and North Africa region. It provides mobile applications, including Yalla, a voice-centric group chat platform; and Yalla Ludo, a casual gaming application. The company's platform offers group chatting and games services; and sells virtual items, as well as provides upgrade services.