16,836 Shares in Gravity Co., LTD. (NASDAQ:GRVY) Acquired by BlackRock Inc.

BlackRock Inc. bought a new position in shares of Gravity Co., LTD. (NASDAQ:GRVY) during the second quarter, according to its most recent 13F filing with the Securities and Exchange Commission (SEC). The institutional investor bought 16,836 shares of the technology company’s stock, valued at approximately $777,000.

Several other hedge funds have also recently added to or reduced their stakes in the stock. Acadian Asset Management LLC increased its stake in shares of Gravity by 126.0% during the second quarter. Acadian Asset Management LLC now owns 70,071 shares of the technology company’s stock worth $3,236,000 after buying an additional 39,065 shares during the period. Handelsbanken Fonder AB increased its stake in Gravity by 20.0% in the second quarter. Handelsbanken Fonder AB now owns 18,000 shares of the technology company’s stock valued at $831,000 after purchasing an additional 3,000 shares during the last quarter. Navellier & Associates Inc increased its stake in Gravity by 23.2% in the second quarter. Navellier & Associates Inc now owns 13,255 shares of the technology company’s stock valued at $612,000 after purchasing an additional 2,496 shares during the last quarter. Envestnet Asset Management Inc. increased its stake in Gravity by 18.5% in the second quarter. Envestnet Asset Management Inc. now owns 4,343 shares of the technology company’s stock valued at $200,000 after purchasing an additional 679 shares during the last quarter. Finally, Russell Investments Group Ltd. increased its stake in Gravity by 97.5% in the second quarter. Russell Investments Group Ltd. now owns 1,827 shares of the technology company’s stock valued at $86,000 after purchasing an additional 902 shares during the last quarter. Hedge funds and other institutional investors own 8.79% of the company’s stock.

Several equities analysts have commented on the stock. ValuEngine upgraded shares of Gravity from a “strong sell” rating to a “sell” rating in a research note on Monday, October 21st. BidaskClub upgraded shares of Gravity from a “strong sell” rating to a “sell” rating in a research note on Friday, September 27th. Finally, TheStreet lowered shares of Gravity from a “b-” rating to a “c+” rating in a research note on Tuesday, August 20th.

Shares of Gravity stock opened at $31.87 on Tuesday. The firm has a market capitalization of $222.34 million, a P/E ratio of 4.81 and a beta of -1.71. Gravity Co., LTD. has a 52 week low of $21.60 and a 52 week high of $96.50. The firm’s 50 day moving average is $31.76 and its two-hundred day moving average is $48.40.

Gravity (NASDAQ:GRVY) last announced its quarterly earnings results on Thursday, August 8th. The technology company reported $1.40 EPS for the quarter. The company had revenue of $67.67 million for the quarter. Gravity had a net margin of 14.06% and a return on equity of 61.46%.

Gravity Profile

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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Institutional Ownership by Quarter for Gravity (NASDAQ:GRVY)

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