GRAVITY (NASDAQ:GRVY) Issues Quarterly Earnings Results

GRAVITY (NASDAQ:GRVY) announced its quarterly earnings data on Friday. The technology company reported $2.81 EPS for the quarter, FiscalAI reports. GRAVITY had a net margin of 11.94% and a return on equity of 10.71%. The business had revenue of $107.61 million for the quarter.

GRAVITY Stock Up 8.0%

GRAVITY stock traded up $4.85 during trading on Friday, hitting $65.46. The stock had a trading volume of 43,742 shares, compared to its average volume of 28,635. The stock’s 50 day moving average is $62.30 and its two-hundred day moving average is $61.16. GRAVITY has a 1 year low of $54.54 and a 1 year high of $74.75. The stock has a market cap of $454.88 million, a price-to-earnings ratio of 9.81 and a beta of 0.99.

Institutional Trading of GRAVITY

Hedge funds have recently made changes to their positions in the company. Ranmore Fund Management Ltd grew its stake in shares of GRAVITY by 55.7% during the 4th quarter. Ranmore Fund Management Ltd now owns 139,744 shares of the technology company’s stock worth $8,087,000 after acquiring an additional 50,000 shares during the period. Nano Cap New Millennium Growth Fund L P purchased a new stake in GRAVITY during the fourth quarter valued at about $1,476,000. Two Sigma Investments LP lifted its holdings in GRAVITY by 64.0% during the third quarter. Two Sigma Investments LP now owns 21,587 shares of the technology company’s stock valued at $1,382,000 after purchasing an additional 8,427 shares during the last quarter. Militia Capital Partners LP boosted its position in GRAVITY by 16.1% during the second quarter. Militia Capital Partners LP now owns 53,000 shares of the technology company’s stock worth $3,376,000 after purchasing an additional 7,344 shares during the period. Finally, GSA Capital Partners LLP increased its stake in shares of GRAVITY by 137.0% in the third quarter. GSA Capital Partners LLP now owns 7,574 shares of the technology company’s stock worth $485,000 after purchasing an additional 4,378 shares in the last quarter. 9.92% of the stock is currently owned by institutional investors.

About GRAVITY

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.