GRAVITY (NASDAQ:GRVY) Posts Earnings Results

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

GRAVITY Trading Up 11.4%

Shares of NASDAQ GRVY opened at $68.12 on Friday. The stock has a market cap of $473.43 million, a P/E ratio of 8.36 and a beta of 1.03. GRAVITY has a twelve month low of $54.54 and a twelve month high of $74.75. The stock has a 50 day moving average of $62.72 and a two-hundred day moving average of $63.36.

Institutional Inflows and Outflows

Several hedge funds and other institutional investors have recently bought and sold shares of the business. Farther Finance Advisors LLC raised its stake in GRAVITY by 19,866.7% during the 4th quarter. Farther Finance Advisors LLC now owns 599 shares of the technology company’s stock valued at $35,000 after acquiring an additional 596 shares during the last quarter. Royal Bank of Canada lifted its holdings in shares of GRAVITY by 133.4% during the fourth quarter. Royal Bank of Canada now owns 817 shares of the technology company’s stock worth $47,000 after purchasing an additional 467 shares during the period. Signaturefd LLC grew its position in GRAVITY by 63.4% in the 4th quarter. Signaturefd LLC now owns 959 shares of the technology company’s stock valued at $55,000 after buying an additional 372 shares during the last quarter. Eurizon Capital SGR S.p.A. acquired a new position in GRAVITY in the 4th quarter valued at $62,000. Finally, Quadrant Capital Group LLC purchased a new position in GRAVITY during the 3rd quarter worth $78,000. 9.92% of the stock is owned by hedge funds and other institutional investors.

GRAVITY Company Profile

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.