Gravity (NASDAQ:GRVY) Stock Rating Lowered by BidaskClub

Gravity (NASDAQ:GRVY) was downgraded by equities research analysts at BidaskClub from a “buy” rating to a “hold” rating in a research note issued to investors on Wednesday, BidAskClub reports.

Separately, ValuEngine lowered Gravity from a “buy” rating to a “hold” rating in a research report on Saturday, June 20th.

GRVY opened at $56.06 on Wednesday. Gravity has a fifty-two week low of $21.49 and a fifty-two week high of $64.80. The firm has a market capitalization of $406.09 million, a PE ratio of 15.53 and a beta of -0.56. The company’s 50-day moving average is $51.41 and its 200 day moving average is $37.52.

Gravity (NASDAQ:GRVY) last issued its quarterly earnings data on Friday, April 10th. The technology company reported $0.04 EPS for the quarter. Gravity had a return on equity of 25.67% and a net margin of 9.76%. The firm had revenue of $60.98 million during the quarter.

A number of large investors have recently bought and sold shares of the business. Acadian Asset Management LLC raised its stake in shares of Gravity by 43.9% during the 1st quarter. Acadian Asset Management LLC now owns 134,478 shares of the technology company’s stock worth $4,029,000 after purchasing an additional 41,030 shares during the period. Skandinaviska Enskilda Banken AB publ bought a new position in Gravity during the fourth quarter valued at about $1,477,000. Morgan Stanley increased its holdings in Gravity by 17.9% during the first quarter. Morgan Stanley now owns 225,854 shares of the technology company’s stock worth $6,768,000 after buying an additional 34,362 shares during the last quarter. Finally, UBS Group AG raised its position in Gravity by 87.4% in the fourth 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. Hedge funds and other institutional investors own 7.48% of the company’s stock.

About Gravity

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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