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

Glory Star New Media Group Holdings Limited (NASDAQ:GSMG) shot up 2.9% on Thursday . The stock traded as high as $2.55 and last traded at $2.50. 14,017 shares changed hands during 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 Trading Up 2.9 %

The company has a 50-day moving average price of $2.57 and a two-hundred day moving average price of $1.86.

Hedge Funds Weigh In On Glory Star New Media Group

Several hedge funds have recently bought and sold shares of GSMG. Renaissance Technologies LLC bought a new position in shares of Glory Star New Media Group during the 3rd quarter worth $47,000. Marshall Wace LLP bought a new position in shares of Glory Star New Media Group during the 3rd quarter worth $118,000. Morgan Stanley grew its position in shares of Glory Star New Media Group by 25.4% during the 4th quarter. Morgan Stanley now owns 108,497 shares of the company’s stock worth $158,000 after buying an additional 21,945 shares in the last quarter. Citadel Advisors LLC grew its position in shares of Glory Star New Media Group by 431.6% during the 3rd quarter. Citadel Advisors LLC now owns 296,792 shares of the company’s stock worth $439,000 after buying an additional 240,960 shares in the last quarter. Finally, Shah Capital Management grew its position in shares of Glory Star New Media Group by 13.4% during the 3rd quarter. Shah Capital Management now owns 11,216,113 shares of the company’s stock worth $4,351,000 after buying an additional 1,329,628 shares in the last quarter. Institutional investors own 10.86% of the company’s stock.

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.