Gravity (NASDAQ:GRVY) Shares Up 8.5%

Shares of Gravity Co., LTD. (NASDAQ:GRVY) shot up 8.5% during mid-day trading on Wednesday . The company traded as high as $65.12 and last traded at $64.52. 148,600 shares traded hands during trading, an increase of 207% from the average session volume of 48,360 shares. The stock had previously closed at $59.44.

A number of brokerages have recently issued reports on GRVY. BidaskClub raised shares of Gravity from a “buy” rating to a “strong-buy” rating in a research note on Friday, May 17th. ValuEngine raised shares of Gravity from a “hold” rating to a “buy” rating in a research note on Wednesday, March 20th.

Several institutional investors and hedge funds have recently modified their holdings of the company. Nordea Investment Management AB raised its holdings in shares of Gravity by 28.0% in the first quarter. Nordea Investment Management AB now owns 2,082 shares of the technology company’s stock valued at $134,000 after acquiring an additional 456 shares in the last quarter. ETF Managers Group LLC raised its holdings in shares of Gravity by 8.8% in the first quarter. ETF Managers Group LLC now owns 9,469 shares of the technology company’s stock valued at $610,000 after acquiring an additional 769 shares in the last quarter. Envestnet Asset Management Inc. bought a new stake in shares of Gravity in the first quarter valued at about $236,000. Mercer Global Advisors Inc. ADV bought a new stake in shares of Gravity in the first quarter valued at about $240,000. Finally, Acadian Asset Management LLC raised its holdings in shares of Gravity by 34.6% in the first quarter. Acadian Asset Management LLC now owns 31,006 shares of the technology company’s stock valued at $1,999,000 after acquiring an additional 7,968 shares in the last quarter.

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Gravity Company Profile (NASDAQ:GRVY)

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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