GRAVITY (NASDAQ:GRVY) Releases Earnings Results

GRAVITY (NASDAQ:GRVY) announced its quarterly earnings results on Friday. The technology company reported $2.27 earnings per share for the quarter, FiscalAI reports. The firm had revenue of $145.19 million during the quarter. GRAVITY had a return on equity of 12.70% and a net margin of 14.92%.

GRAVITY Stock Up 5.0%

NASDAQ GRVY traded up $3.39 during trading hours on Friday, hitting $70.80. 70,391 shares of the company were exchanged, compared to its average volume of 27,590. The company has a 50 day moving average of $68.29 and a two-hundred day moving average of $65.36. GRAVITY has a 52-week low of $54.54 and a 52-week high of $76.00. The firm has a market cap of $491.99 million, a price-to-earnings ratio of 8.69 and a beta of 0.95.

Institutional Trading of GRAVITY

A number of institutional investors have recently bought and sold shares of GRVY. Entropy Technologies LP purchased a new stake in GRAVITY during the third quarter worth approximately $246,000. Boston Partners boosted its holdings in GRAVITY by 72.0% in the third quarter. Boston Partners now owns 42,037 shares of the technology company’s stock valued at $2,808,000 after purchasing an additional 17,599 shares in the last quarter. Allworth Financial LP increased its stake in GRAVITY by 38.8% in the third quarter. Allworth Financial LP now owns 747 shares of the technology company’s stock valued at $50,000 after purchasing an additional 209 shares during the last quarter. Ramsey Quantitative Systems purchased a new position in GRAVITY in the third quarter valued at approximately $27,000. Finally, GAMMA Investing LLC increased its stake in GRAVITY by 126.4% in the second quarter. GAMMA Investing LLC now owns 4,252 shares of the technology company’s stock valued at $286,000 after purchasing an additional 2,374 shares during the last quarter. 9.92% of the stock is owned by hedge funds and other institutional investors.

Analyst Upgrades and Downgrades

Separately, Weiss Ratings raised GRAVITY from a “hold (c-)” rating to a “hold (c)” rating in a research note on Tuesday, August 25th. One research analyst has rated the stock with a Hold rating. According to MarketBeat, GRAVITY presently has an average rating of “Hold”.

GRAVITY Company Profile

GRAVITY Co., Ltd. is a South Korean game developer and publisher founded in 2000 and headquartered in Seoul. The company develops and distributes online and mobile games, with a portfolio centered on the Ragnarok franchise. Its best-known title is the massively multiplayer online role-playing game Ragnarok Online. The franchise also includes mobile and online games such as Ragnarok M: Eternal Love, Ragnarok Origin and Ragnarok X: Next Generation. GRAVITY serves players in South Korea and international markets through its own operations, subsidiaries and publishing or licensing partners.