GRAVITY (NASDAQ:GRVY) Issues Quarterly Earnings Results

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

GRAVITY Stock Up 5.0%

NASDAQ GRVY traded up $3.39 during trading hours on Friday, reaching $70.80. The company’s stock had a trading volume of 70,391 shares, compared to its average volume of 36,778. The firm’s 50-day moving average price is $68.33 and its 200-day moving average price is $65.33. GRAVITY has a 1 year low of $54.54 and a 1 year high of $76.00. The company has a market capitalization of $492.06 million, a price-to-earnings ratio of 8.69 and a beta of 0.95.

Institutional Investors Weigh In On GRAVITY

Institutional investors have recently added to or reduced their stakes in the stock. Militia Capital Management LLC bought a new position in shares of GRAVITY during the first quarter worth $3,829,000. Boston Partners lifted its stake in shares of GRAVITY by 72.0% in the 3rd 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 during the last quarter. Renaissance Technologies LLC purchased a new stake in GRAVITY during the 1st quarter valued at $229,000. GAMMA Investing LLC lifted its position in GRAVITY by 126.4% in the second quarter. GAMMA Investing LLC now owns 4,252 shares of the technology company’s stock worth $286,000 after buying an additional 2,374 shares during the last quarter. Finally, Royal Bank of Canada lifted its position in GRAVITY by 231.6% in the first quarter. Royal Bank of Canada now owns 2,709 shares of the technology company’s stock worth $168,000 after buying an additional 1,892 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 shares of GRAVITY from a “hold (c-)” rating to a “hold (c)” rating in a research report on Tuesday, August 25th. One equities research analyst has rated the stock with a Hold rating. Based on data from MarketBeat, GRAVITY currently has a consensus 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.