Glory Star New Media Group (NASDAQ:GSMG) Shares Up 2.9%

Glory Star New Media Group Holdings Limited (NASDAQ:GSMG) traded up 2.9% during mid-day trading on Thursday . The stock traded as high as $2.55 and last traded at $2.50. 14,017 shares changed hands during mid-day trading, a decline of 98% from the average session volume of 630,436 shares. The stock had previously closed at $2.43.

Glory Star New Media Group Price Performance

The firm has a fifty day moving average of $2.57 and a 200-day moving average of $1.86.

Institutional Trading of Glory Star New Media Group

Large investors have recently added to or reduced their stakes in the stock. Renaissance Technologies LLC acquired a new stake in Glory Star New Media Group in the 3rd quarter valued at $47,000. Marshall Wace LLP acquired a new stake in shares of Glory Star New Media Group during the third quarter valued at about $118,000. Morgan Stanley grew its stake in shares of Glory Star New Media Group by 25.4% during the fourth quarter. Morgan Stanley now owns 108,497 shares of the company’s stock valued at $158,000 after acquiring an additional 21,945 shares in the last quarter. Citadel Advisors LLC grew its stake in shares of Glory Star New Media Group by 431.6% during the third quarter. Citadel Advisors LLC now owns 296,792 shares of the company’s stock valued at $439,000 after acquiring an additional 240,960 shares in the last quarter. Finally, Shah Capital Management grew its stake in shares of Glory Star New Media Group by 13.4% during the third quarter. Shah Capital Management now owns 11,216,113 shares of the company’s stock valued at $4,351,000 after acquiring an additional 1,329,628 shares in the last quarter. 10.86% of the stock is currently owned by institutional investors and hedge funds.

Glory Star New Media Group Company Profile

Glory Star New Media Group Holdings Limited, through its subsidiaries, provides advertisement and content production services in the People's Republic of China. The company also engages in mobile and online advertising, and media and entertainment businesses. In addition, it operates CHEERS app, an e-commerce platform that allows users to access online store, live streaming, series TV shows, and online games, as well as online short videos, variety shows, and dramas.