Gravity (NASDAQ:GRVY) Upgraded at BidaskClub

BidaskClub upgraded shares of Gravity (NASDAQ:GRVY) from a sell rating to a hold rating in a research report report published on Thursday morning, BidAskClub reports.

A number of other analysts have also recently weighed in on the company. TheStreet raised Gravity from a c+ rating to a b rating in a research report on Thursday, July 16th. ValuEngine cut Gravity from a buy rating to a hold rating in a research report on Saturday, June 20th.

Shares of NASDAQ GRVY opened at $60.69 on Thursday. The stock has a market cap of $421.73 million, a PE ratio of 16.81 and a beta of -0.59. Gravity has a 52-week low of $21.49 and a 52-week high of $66.41. The business has a 50-day moving average price of $57.45 and a 200 day moving average price of $40.66.

Gravity (NASDAQ:GRVY) last announced its earnings results on Friday, May 29th. The technology company reported $1.09 earnings per share (EPS) for the quarter. The firm had revenue of $60.10 million during the quarter. Gravity had a return on equity of 25.67% and a net margin of 9.76%.

Several hedge funds have recently modified their holdings of the company. UBS Group AG raised its stake in shares of Gravity by 87.4% during the 4th quarter. UBS Group AG now owns 2,903 shares of the technology company’s stock worth $109,000 after buying an additional 1,354 shares in the last quarter. Envestnet Asset Management Inc. purchased a new position in shares of Gravity during the 2nd quarter worth approximately $301,000. SG Americas Securities LLC purchased a new position in shares of Gravity during the 2nd quarter worth approximately $752,000. Morgan Stanley raised its stake in shares of Gravity by 17.9% during the 1st quarter. Morgan Stanley now owns 225,854 shares of the technology company’s stock worth $6,768,000 after buying an additional 34,362 shares in the last quarter. Finally, Acadian Asset Management LLC raised its stake in shares of Gravity by 43.9% during the 1st quarter. Acadian Asset Management LLC now owns 134,478 shares of the technology company’s stock worth $4,029,000 after buying an additional 41,030 shares in the last quarter. 7.56% of the stock is owned by institutional investors and hedge funds.

About Gravity

Gravity Co, Ltd. develops, publishes, and distributes online games in South Korea, Japan, the United States, Canada, Taiwan, the Philippines, Thailand, Hong Kong, Macau, China, and internationally. It offers online games; mobile games and applications; and other games and game-related products and services, including character-based merchandise and animation.

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