Gravity (NASDAQ:GRVY) Raised to Buy at StockNews.com

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

Gravity Trading Up 0.3 %

NASDAQ:GRVY opened at $80.75 on Thursday. Gravity has a 12-month low of $59.00 and a 12-month high of $88.85. The stock’s 50 day simple moving average is $75.55 and its 200-day simple moving average is $72.15. The firm has a market cap of $561.21 million, a P/E ratio of 6.10 and a beta of 1.20.

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

Institutional Investors Weigh In On Gravity

A number of institutional investors have recently added to or reduced their stakes in the business. Quadrant Capital Group LLC boosted its stake in shares of Gravity by 15.7% in the fourth quarter. Quadrant Capital Group LLC now owns 3,371 shares of the technology company’s stock valued at $234,000 after buying an additional 458 shares in the last quarter. BNP Paribas Financial Markets grew its stake in shares of Gravity by 112.1% during the 4th 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. Jump Financial LLC lifted its stake in shares of Gravity by 12.0% in the fourth quarter. Jump Financial LLC now owns 3,707 shares of the technology company’s stock valued at $258,000 after purchasing an additional 398 shares during the period. New York State Common Retirement Fund increased its holdings in Gravity by 20.7% in the fourth quarter. New York State Common Retirement Fund now owns 2,637 shares of the technology company’s stock valued at $183,000 after buying an additional 453 shares in the last quarter. Finally, Quadrature Capital Ltd acquired a new stake in shares of Gravity during the 3rd quarter valued at approximately $900,000. Hedge funds and other institutional investors 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.