BidaskClub Upgrades Gravity (NASDAQ:GRVY) to “Hold”
Several other brokerages also recently issued reports on GRVY. TheStreet upgraded Gravity from a “c+” rating to a “b” rating in a research report on Thursday, July 16th. ValuEngine lowered Gravity from a “buy” rating to a “hold” rating in a research note on Saturday, June 20th.
Shares of GRVY traded down $0.19 during midday trading on Thursday, reaching $60.69. 41,506 shares of the stock were exchanged, compared to its average volume of 49,006. The company has a market capitalization of $421.80 million, a price-to-earnings ratio of 16.86 and a beta of -0.59. Gravity has a twelve month low of $21.49 and a twelve month high of $66.41. The business’s 50-day moving average price is $57.45 and its 200 day moving average price is $40.66.
Hedge funds and other institutional investors have recently made changes to their positions in the stock. UBS Group AG boosted its holdings in Gravity by 87.4% in the 4th quarter. UBS Group AG now owns 2,903 shares of the technology company’s stock worth $109,000 after acquiring an additional 1,354 shares during the period. Acadian Asset Management LLC lifted its holdings in Gravity by 43.9% in the 1st quarter. Acadian Asset Management LLC now owns 134,478 shares of the technology company’s stock worth $4,029,000 after buying an additional 41,030 shares in the last quarter. Morgan Stanley boosted its position in Gravity by 17.9% in the 1st quarter. Morgan Stanley now owns 225,854 shares of the technology company’s stock valued at $6,768,000 after buying an additional 34,362 shares during the last quarter. Envestnet Asset Management Inc. acquired a new stake in shares of Gravity during the second quarter valued at about $301,000. Finally, SG Americas Securities LLC purchased a new stake in shares of Gravity during the second quarter worth about $752,000. Hedge funds and other institutional investors own 7.56% of the company’s stock.
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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