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

Gravity (NASDAQ:GRVY) was downgraded by equities research analysts at StockNews.com from a “buy” rating to a “hold” rating in a research note issued to investors on Thursday.

Gravity Stock Performance

NASDAQ:GRVY opened at $72.53 on Thursday. The company has a market cap of $504.08 million, a price-to-earnings ratio of 5.48 and a beta of 0.92. Gravity has a fifty-two week low of $53.51 and a fifty-two week high of $82.48. The stock has a fifty day moving average price of $70.67 and a 200-day moving average price of $70.21.

Gravity (NASDAQ:GRVY) last posted its quarterly earnings data on Friday, April 12th. The technology company reported $2.35 earnings per share for the quarter. The business had revenue of $110.31 million during the quarter. Gravity had a net margin of 16.96% and a return on equity of 46.65%.

Hedge Funds Weigh In On Gravity

Institutional investors and hedge funds have recently added to or reduced their stakes in the stock. New York State Common Retirement Fund raised its position in Gravity by 78.9% during the 3rd 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 last quarter. Jump Financial LLC bought a new position in shares of Gravity during the 3rd quarter worth approximately $228,000. Quadrant Capital Group LLC boosted its position in Gravity by 15.7% in the fourth quarter. Quadrant Capital Group LLC now owns 3,371 shares of the technology company’s stock worth $234,000 after purchasing an additional 458 shares during the last quarter. DGS Capital Management LLC purchased a new position in shares of Gravity in the 4th quarter worth about $273,000. Finally, BNP Paribas Financial Markets grew its position 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 valued at $779,000 after acquiring an additional 5,920 shares during the period. 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.