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Mandalay Digital Group (NASDAQ:MNDL) COO William Gordon Stone III sold 5,833 shares of the stock on the open market in a transaction that occurred on Monday, June 23rd. The stock was sold at an average price of $3.73, for a total transaction of $21,757.09. Following the completion of the sale, the chief operating officer now directly owns 294,167 shares of the company’s stock, valued at approximately $1,097,243. The sale was disclosed in a filing with the SEC, which is available at this link.

Mandalay Digital Group (NASDAQ:MNDL) traded down 0.74% during mid-day trading on Thursday, hitting $4.02. The stock had a trading volume of 19,778 shares. Mandalay Digital Group has a 52-week low of $2.28 and a 52-week high of $4.94. The stock’s 50-day moving average is $3.62 and its 200-day moving average is $3.60. The company’s market cap is $126.1 million.

Separately, analysts at Craig Hallum initiated coverage on shares of Mandalay Digital Group in a research note on Friday, March 28th. They set a “buy” rating and a $7.50 price target on the stock.

Mandalay Digital Group, Inc (NASDAQ:MNDL), formerly NeuMedia, Inc, is a provider of mobile services enabling mobile content distribution and transactions serving mobile operators, end consumers, and original equipment manufacturers (OEM’s) of mobile devices and tablets.

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