Gravity (NASDAQ:GRVY) Downgraded to “Hold” at StockNews.com

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

Gravity Trading Up 0.1 %

Gravity stock opened at $63.30 on Friday. Gravity has a 52 week low of $59.00 and a 52 week high of $88.85. The stock has a market cap of $439.87 million, a price-to-earnings ratio of 4.78 and a beta of 1.42. The company’s 50-day moving average price is $77.69 and its two-hundred day moving average price is $73.53.

Institutional Trading of Gravity

A number of hedge funds and other institutional investors have recently modified their holdings of the company. Acadian Asset Management LLC increased its holdings in shares of Gravity by 29.5% in the first quarter. Acadian Asset Management LLC now owns 233,515 shares of the technology company’s stock valued at $17,689,000 after buying an additional 53,195 shares in the last quarter. BNP Paribas Financial Markets increased its stake in Gravity by 41.1% in the 1st quarter. BNP Paribas Financial Markets now owns 15,802 shares of the technology company’s stock worth $1,199,000 after purchasing an additional 4,600 shares in the last quarter. Quadrant Capital Group LLC raised its holdings in Gravity by 15.7% during the 4th quarter. Quadrant Capital Group LLC now owns 3,371 shares of the technology company’s stock worth $234,000 after buying an additional 458 shares during the period. Jump Financial LLC lifted its stake in Gravity by 12.0% during the fourth quarter. Jump Financial LLC now owns 3,707 shares of the technology company’s stock valued at $258,000 after buying an additional 398 shares in the last quarter. Finally, New York State Common Retirement Fund increased its position in shares of Gravity by 20.7% in the fourth quarter. New York State Common Retirement Fund now owns 2,637 shares of the technology company’s stock worth $183,000 after acquiring an additional 453 shares in the last quarter. 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.