Glory Star New Media Group (NASDAQ:GSMG) Shares Up 7%

Glory Star New Media Group Holdings Limited (NASDAQ:GSMG)’s share price shot up 7% during trading on Friday . The company traded as high as $2.70 and last traded at $2.60. 30,843 shares changed hands during trading, a decline of 95% from the average session volume of 630,436 shares. The stock had previously closed at $2.43.

Glory Star New Media Group Stock Performance

The stock has a 50-day moving average price of $2.52 and a 200 day moving average price of $2.10.

Institutional Investors Weigh In On Glory Star New Media Group

Several institutional investors have recently added to or reduced their stakes in GSMG. Maven Securities LTD lifted its stake in Glory Star New Media Group by 14.8% during the fourth quarter. Maven Securities LTD now owns 4,241,088 shares of the company’s stock worth $6,192,000 after purchasing an additional 548,068 shares during the last quarter. Citadel Advisors LLC lifted its stake in 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 worth $439,000 after purchasing an additional 240,960 shares during the last quarter. Renaissance Technologies LLC lifted its stake in Glory Star New Media Group by 652.7% during the fourth quarter. Renaissance Technologies LLC now owns 239,200 shares of the company’s stock worth $349,000 after purchasing an additional 207,422 shares during the last quarter. Marshall Wace LLP purchased a new stake in Glory Star New Media Group during the third quarter worth approximately $118,000. Finally, Morgan Stanley lifted its stake in Glory Star New Media Group by 25.4% during the fourth quarter. Morgan Stanley now owns 108,497 shares of the company’s stock worth $158,000 after purchasing an additional 21,945 shares during the last quarter. Hedge funds and other institutional investors own 10.86% of the company’s stock.

About Glory Star New Media Group

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.