GRAVITY (NASDAQ:GRVY) Posts Quarterly Earnings Results

GRAVITY (NASDAQ:GRVY) released its quarterly earnings data on Friday. The technology company reported $2.26 earnings per share (EPS) for the quarter, FiscalAI reports. The business had revenue of $104.47 million during the quarter. GRAVITY had a net margin of 12.63% and a return on equity of 11.44%.

GRAVITY Stock Up 11.4%

Shares of NASDAQ GRVY traded up $6.99 during midday trading on Friday, reaching $68.12. 247,266 shares of the company were exchanged, compared to its average volume of 27,378. The stock’s 50-day moving average price is $62.72 and its 200-day moving average price is $63.36. The stock has a market cap of $473.37 million, a P/E ratio of 9.33 and a beta of 1.03. GRAVITY has a one year low of $54.54 and a one year high of $74.75.

Institutional Investors Weigh In On GRAVITY

A number of hedge funds and other institutional investors have recently bought and sold shares of the company. Militia Capital Management LLC bought a new position in GRAVITY in the 1st quarter valued at approximately $3,829,000. Ranmore Fund Management Ltd grew its holdings in GRAVITY by 55.7% during the 4th quarter. Ranmore Fund Management Ltd now owns 139,744 shares of the technology company’s stock worth $8,087,000 after acquiring an additional 50,000 shares during the last quarter. Nano Cap New Millennium Growth Fund L P bought a new stake in GRAVITY during the 4th quarter worth approximately $1,476,000. Two Sigma Investments LP increased its position in GRAVITY by 64.0% in the 3rd quarter. Two Sigma Investments LP now owns 21,587 shares of the technology company’s stock valued at $1,382,000 after acquiring an additional 8,427 shares during the period. Finally, Militia Capital Partners LP increased its position in GRAVITY by 16.1% in the 2nd quarter. Militia Capital Partners LP now owns 53,000 shares of the technology company’s stock valued at $3,376,000 after acquiring an additional 7,344 shares during the period. Institutional investors own 9.92% of the company’s stock.

About GRAVITY

Gravity Co, Ltd is a South Korea–based developer and publisher of online games, best known for creating the Ragnarok franchise. Since its founding in 2000 by industry veteran Kim Sang-young, the company has specialized in massively multiplayer online role‐playing games (MMORPGs) and related digital content. Over the years, Gravity has expanded its portfolio beyond its flagship title to include sequels, spin-offs and mobile adaptations targeted at a global audience.

The company’s product lineup centers on PC and mobile MMORPGs built on the Ragnarok intellectual property.