GRAVITY (NASDAQ:GRVY) Posts Quarterly Earnings Results

GRAVITY (NASDAQ:GRVY) issued its quarterly earnings data on Friday. The technology company reported $2.27 earnings per share for the quarter, FiscalAI reports. GRAVITY had a net margin of 14.92% and a return on equity of 12.70%. The firm had revenue of $145.19 million for the quarter.

GRAVITY Trading Up 5.0%

GRAVITY stock traded up $3.39 during trading on Friday, reaching $70.80. The company had a trading volume of 70,391 shares, compared to its average volume of 27,590. GRAVITY has a 52 week low of $54.54 and a 52 week high of $76.00. The firm’s 50-day simple moving average is $68.29 and its 200 day simple moving average is $65.36. The firm has a market capitalization of $491.99 million, a price-to-earnings ratio of 8.69 and a beta of 0.95.

Analysts Set New Price Targets

Separately, Weiss Ratings upgraded shares of GRAVITY from a “hold (c-)” rating to a “hold (c)” rating in a research report on Tuesday, August 25th. One research analyst has rated the stock with a Hold rating. Based on data from MarketBeat.com, GRAVITY has an average rating of “Hold”.

Institutional Trading of GRAVITY

Hedge funds have recently bought and sold shares of the stock. Entropy Technologies LP purchased a new stake in shares of GRAVITY during the third quarter worth about $246,000. Boston Partners raised its stake in GRAVITY by 72.0% during the 3rd quarter. Boston Partners now owns 42,037 shares of the technology company’s stock valued at $2,808,000 after purchasing an additional 17,599 shares during the period. Allworth Financial LP raised its stake in GRAVITY by 38.8% during the 3rd quarter. Allworth Financial LP now owns 747 shares of the technology company’s stock valued at $50,000 after purchasing an additional 209 shares during the period. Ramsey Quantitative Systems purchased a new position in GRAVITY in the 3rd quarter worth approximately $27,000. Finally, GAMMA Investing LLC lifted its holdings in GRAVITY by 126.4% in the 2nd quarter. GAMMA Investing LLC now owns 4,252 shares of the technology company’s stock worth $286,000 after purchasing an additional 2,374 shares in the last quarter. Institutional investors own 9.92% of the company’s stock.

GRAVITY Company Profile

GRAVITY Co., Ltd. is a South Korean game developer and publisher founded in 2000 and headquartered in Seoul. The company develops and distributes online and mobile games, with a portfolio centered on the Ragnarok franchise. Its best-known title is the massively multiplayer online role-playing game Ragnarok Online. The franchise also includes mobile and online games such as Ragnarok M: Eternal Love, Ragnarok Origin and Ragnarok X: Next Generation. GRAVITY serves players in South Korea and international markets through its own operations, subsidiaries and publishing or licensing partners.