Gravity (NASDAQ:GRVY) Raised to Buy at StockNews.com

StockNews.com upgraded shares of Gravity (NASDAQ:GRVY) from a hold rating to a buy rating in a report issued on Thursday morning.

Gravity Trading Down 3.9 %

Shares of GRVY stock opened at $65.61 on Thursday. The stock’s 50-day moving average price is $62.30 and its 200-day moving average price is $69.90. Gravity has a 12-month low of $57.37 and a 12-month high of $88.85. The stock has a market capitalization of $455.99 million, a price-to-earnings ratio of 7.31 and a beta of 1.34.

Institutional Inflows and Outflows

A number of hedge funds and other institutional investors have recently modified their holdings of GRVY. GAMMA Investing LLC increased its position in Gravity by 68.9% in the second quarter. GAMMA Investing LLC now owns 321 shares of the technology company’s stock worth $26,000 after purchasing an additional 131 shares during the last quarter. Creative Planning grew its stake in shares of Gravity by 7.3% in the 2nd quarter. Creative Planning now owns 3,801 shares of the technology company’s stock worth $307,000 after buying an additional 260 shares in the last quarter. Public Employees Retirement System of Ohio bought a new stake in shares of Gravity in the 3rd quarter worth about $117,000. QRG Capital Management Inc. purchased a new stake in shares of Gravity during the 2nd quarter valued at about $209,000. Finally, BNP Paribas Financial Markets lifted its holdings in shares of Gravity by 12.6% in the 3rd quarter. BNP Paribas Financial Markets now owns 27,137 shares of the technology company’s stock valued at $1,609,000 after acquiring an additional 3,030 shares during the last quarter. 9.92% of the stock is currently owned by institutional investors.

About Gravity

Gravity Co, Ltd. develops and publishes online and mobile games worldwide. It offers a massively multiplayer online role-playing game, including Ragnarok Online, Dragonica, Ragnarok Online II, and Ragnarok Landverse. Its mobile games portfolio includes Ragnarok M; Eternal Love; Ragnarok Origin; Ragnarok X: Next Generation; Ragnarok Arena; WITH ISLAND; the Labyrinth of Ragnarok; Ragnarok Poring Merge; Tera Classic; Ragnarok: The Lost Memories; Sadako M; NBA: Rise To Stardom; Milkmaid Of The Milky Way; Generation Zombie; Ragnarok Idle Adventure; Ragnarok 20 Heroes; White Chord; WITH: Whale In The High; Ragnarok Lost Memories; and Paladog Tactics.