StockNews.com Lowers Gravity (NASDAQ:GRVY) to Hold

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

Gravity Trading Up 0.1 %

GRVY opened at $63.30 on Friday. The firm’s 50 day simple moving average is $77.69 and its two-hundred day simple moving average is $73.53. The company has a market capitalization of $439.87 million, a PE ratio of 4.78 and a beta of 1.42. Gravity has a 1-year low of $59.00 and a 1-year high of $88.85.

Institutional Inflows and Outflows

Several institutional investors have recently made changes to their positions in GRVY. Acadian Asset Management LLC boosted its stake in Gravity by 29.5% in the 1st quarter. Acadian Asset Management LLC now owns 233,515 shares of the technology company’s stock worth $17,689,000 after purchasing an additional 53,195 shares during the period. Apis Capital Advisors LLC increased its stake in Gravity by 88.9% in the 2nd quarter. Apis Capital Advisors LLC now owns 17,000 shares of the technology company’s stock worth $1,373,000 after acquiring an additional 8,000 shares during the last quarter. DGS Capital Management LLC boosted its position in shares of Gravity by 175.5% during the 1st quarter. DGS Capital Management LLC now owns 10,803 shares of the technology company’s stock valued at $820,000 after acquiring an additional 6,882 shares during the last quarter. BNP Paribas Financial Markets grew its holdings in shares of Gravity by 112.1% in the fourth quarter. BNP Paribas Financial Markets now owns 11,202 shares of the technology company’s stock valued at $779,000 after purchasing an additional 5,920 shares in the last quarter. Finally, Caprock Group LLC bought a new stake in Gravity in the second quarter worth $394,000. Institutional investors own 9.92% of the company’s stock.

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.