Gravity (NASDAQ:GRVY) Downgraded by StockNews.com to Hold

StockNews.com lowered shares of Gravity (NASDAQ:GRVY) from a buy rating to a hold rating in a report published on Friday.

Gravity Stock Performance

Shares of GRVY stock opened at $63.00 on Friday. The stock’s 50-day moving average is $77.24 and its two-hundred day moving average is $73.51. Gravity has a 1 year low of $59.00 and a 1 year high of $88.85. The firm has a market cap of $437.79 million, a price-to-earnings ratio of 4.76 and a beta of 1.42.

Institutional Investors Weigh In On Gravity

A number of institutional investors and hedge funds have recently added to or reduced their stakes in the company. GAMMA Investing LLC raised its position in Gravity by 68.9% in the 2nd quarter. GAMMA Investing LLC now owns 321 shares of the technology company’s stock valued at $26,000 after purchasing an additional 131 shares during the last quarter. QRG Capital Management Inc. purchased a new stake in shares of Gravity in the second quarter valued at about $209,000. New York State Common Retirement Fund raised its holdings in shares of Gravity by 20.7% in the fourth quarter. New York State Common Retirement Fund now owns 2,637 shares of the technology company’s stock valued at $183,000 after buying an additional 453 shares during the last quarter. Quadrant Capital Group LLC boosted its stake in shares of Gravity by 15.7% during the fourth quarter. Quadrant Capital Group LLC now owns 3,371 shares of the technology company’s stock worth $234,000 after buying an additional 458 shares during the period. Finally, Jump Financial LLC grew its holdings in shares of Gravity by 12.0% during the fourth quarter. Jump Financial LLC now owns 3,707 shares of the technology company’s stock worth $258,000 after buying an additional 398 shares during the last quarter. Hedge funds and other institutional investors own 9.92% of the company’s stock.

Gravity Company Profile

Gravity Co, Ltd. develops and publishes online and mobile games in South Korea, Taiwan, Thailand, and the United States. The company offers a massively multiplayer online role-playing game, including Ragnarok Online, Dragonica, Ragnarok Online II, and Ragnarok Prequel II. Its mobile games portfolio includes Ragnarok M: Eternal Love; Ragnarok Origin; Ragnarok X: Next Generation; the Labyrinth of Ragnarok; Ragnarok Poring Merge; Tera Classic; Ragnarok: The Lost Memories; Sadako M; NBA: Rise To Stardom; Milkmaid Of The Milky Way; and Paladog Tactics.