Gravity (NASDAQ:GRVY) Raised to Buy at Wall Street Zen

Gravity (NASDAQ:GRVY) was upgraded by research analysts at Wall Street Zen from a “hold” rating to a “buy” rating in a note issued to investors on Saturday.

Gravity Price Performance

Gravity stock opened at $62.35 on Friday. The firm has a market capitalization of $433.27 million, a price-to-earnings ratio of 6.94 and a beta of 1.27. The company’s 50 day simple moving average is $62.05 and its 200 day simple moving average is $61.44. Gravity has a fifty-two week low of $53.12 and a fifty-two week high of $85.74.

Gravity (NASDAQ:GRVY) last posted its earnings results on Friday, May 9th. The technology company reported $2.15 earnings per share for the quarter. Gravity had a net margin of 14.98% and a return on equity of 34.76%. The company had revenue of $93.23 million for the quarter.

Institutional Inflows and Outflows

A number of institutional investors and hedge funds have recently added to or reduced their stakes in the business. Acadian Asset Management LLC raised its position in shares of Gravity by 8.7% during the first quarter. Acadian Asset Management LLC now owns 233,983 shares of the technology company’s stock worth $14,126,000 after purchasing an additional 18,826 shares during the period. Ranmore Fund Management Ltd bought a new stake in Gravity during the 4th quarter worth approximately $5,664,000. Arrowstreet Capital Limited Partnership raised its holdings in Gravity by 13.6% during the 4th quarter. Arrowstreet Capital Limited Partnership now owns 66,989 shares of the technology company’s stock worth $4,228,000 after buying an additional 8,014 shares during the period. Militia Capital Partners LP raised its holdings in Gravity by 63.5% during the 1st quarter. Militia Capital Partners LP now owns 45,656 shares of the technology company’s stock worth $2,762,000 after buying an additional 17,738 shares during the period. Finally, Apis Capital Advisors LLC lifted its stake in Gravity by 7.5% in the fourth quarter. Apis Capital Advisors LLC now owns 20,000 shares of the technology company’s stock valued at $1,262,000 after buying an additional 1,400 shares in the last quarter. 9.92% of the stock is owned by institutional investors and hedge funds.

Gravity Company Profile

Gravity Co, Ltd. develops and publishes online and mobile games worldwide. It offers a massively multiplayer online role-playing game, including Ragnarok Online, Dragonica, Ragnarok Online II, and Ragnarok Landverse. Its mobile games portfolio includes Ragnarok M; Eternal Love; Ragnarok Origin; Ragnarok X: Next Generation; Ragnarok Arena; WITH ISLAND; the Labyrinth of Ragnarok; Ragnarok Poring Merge; Tera Classic; Ragnarok: The Lost Memories; Sadako M; NBA: Rise To Stardom; Milkmaid Of The Milky Way; Generation Zombie; Ragnarok Idle Adventure; Ragnarok 20 Heroes; White Chord; WITH: Whale In The High; Ragnarok Lost Memories; and Paladog Tactics.