Gravity (NASDAQ:GRVY) Stock Rating Upgraded by StockNews.com

StockNews.com upgraded shares of Gravity (NASDAQ:GRVY) from a hold rating to a buy rating in a research report released on Thursday morning.

Gravity Stock Up 0.3 %

Shares of GRVY stock opened at $80.75 on Thursday. The business has a 50 day moving average of $75.55 and a two-hundred day moving average of $72.15. The company has a market cap of $561.21 million, a P/E ratio of 6.10 and a beta of 1.20. Gravity has a 52 week low of $59.00 and a 52 week high of $88.85.

Gravity (NASDAQ:GRVY) last issued its quarterly earnings data on Thursday, May 9th. The technology company reported $2.87 EPS for the quarter. Gravity had a return on equity of 46.65% and a net margin of 16.96%. The firm had revenue of $119.78 million during the quarter.

Institutional Investors Weigh In On Gravity

Several large investors have recently made changes to their positions in the company. Acadian Asset Management LLC increased its position in Gravity by 29.5% in the 1st quarter. Acadian Asset Management LLC now owns 233,515 shares of the technology company’s stock valued at $17,689,000 after acquiring an additional 53,195 shares during the period. Quadrature Capital Ltd acquired a new position in shares of Gravity during the third quarter valued at $900,000. DGS Capital Management LLC raised its stake in shares of Gravity by 175.5% during the first quarter. DGS Capital Management LLC now owns 10,803 shares of the technology company’s stock valued at $820,000 after purchasing an additional 6,882 shares in the last quarter. BNP Paribas Financial Markets lifted its holdings in Gravity by 112.1% in the fourth quarter. BNP Paribas Financial Markets now owns 11,202 shares of the technology company’s stock worth $779,000 after purchasing an additional 5,920 shares during the period. Finally, O Shaughnessy Asset Management LLC grew its position in Gravity by 6.7% in the 3rd quarter. O Shaughnessy Asset Management LLC now owns 23,809 shares of the technology company’s stock valued at $1,643,000 after buying an additional 1,501 shares in the last quarter. Institutional investors and hedge funds own 9.92% of the company’s stock.

About Gravity

Gravity Co, Ltd. develops and publishes online and mobile games in South Korea, Taiwan, Thailand, and the United States. The company offers a massively multiplayer online role-playing game, including Ragnarok Online, Dragonica, Ragnarok Online II, and Ragnarok Prequel II. Its mobile games portfolio includes Ragnarok M: Eternal Love; Ragnarok Origin; Ragnarok X: Next Generation; the Labyrinth of Ragnarok; Ragnarok Poring Merge; Tera Classic; Ragnarok: The Lost Memories; Sadako M; NBA: Rise To Stardom; Milkmaid Of The Milky Way; and Paladog Tactics.