Gravity (NASDAQ:GRVY) Lowered to “Hold” at StockNews.com

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

Gravity Stock Down 0.7 %

Gravity stock opened at $72.53 on Thursday. The stock has a market cap of $504.08 million, a P/E ratio of 5.48 and a beta of 0.92. Gravity has a twelve month low of $53.51 and a twelve month high of $82.48. The company’s 50-day moving average price is $70.67 and its two-hundred day moving average price is $70.31.

Gravity (NASDAQ:GRVY) last announced its earnings results on Friday, April 12th. The technology company reported $2.35 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 $110.31 million for the quarter.

Institutional Inflows and Outflows

Several hedge funds have recently made changes to their positions in GRVY. Jump Financial LLC bought a new position in shares of Gravity during the third quarter worth approximately $228,000. New York State Common Retirement Fund increased its holdings in shares of Gravity by 78.9% during the third quarter. New York State Common Retirement Fund now owns 2,184 shares of the technology company’s stock worth $151,000 after purchasing an additional 963 shares during the period. Acadian Asset Management LLC increased its holdings in shares of Gravity by 124.1% during the third quarter. Acadian Asset Management LLC now owns 157,738 shares of the technology company’s stock worth $10,858,000 after purchasing an additional 87,354 shares during the period. O Shaughnessy Asset Management LLC increased its holdings in shares of Gravity by 6.7% during the third quarter. O Shaughnessy Asset Management LLC now owns 23,809 shares of the technology company’s stock worth $1,643,000 after purchasing an additional 1,501 shares during the period. Finally, Quadrature Capital Ltd bought a new position in shares of Gravity during the third quarter worth approximately $900,000. 9.92% of the stock is owned by institutional investors.

Gravity Company Profile

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.