Acadian Asset Management LLC Boosts Stake in GRAVITY Co., Ltd. $GRVY

Key Points

• Acadian Asset Management LLC increased its holdings in GRAVITY Co., Ltd. by 8.7%, owning 233,983 shares worth approximately $14.13 million at the end of the most recent quarter.
• Various institutional investors demonstrated interest in GRAVITY, with notable stakes acquired by Two Sigma Investments LP and Public Employees Retirement System of Ohio during the 4th quarter.
• GRAVITY's stock recently opened at $64.51, with an annual low of $53.12 and high of $70.00, and it reported quarterly earnings of $1.41 per share with a revenue of $126.15 million.

Acadian Asset Management LLC lifted its position in GRAVITY Co., Ltd. (NASDAQ:GRVY - Free Report) by 8.7% in the first quarter, according to the company in its most recent disclosure with the Securities and Exchange Commission (SEC). The institutional investor owned 233,983 shares of the technology company's stock after purchasing an additional 18,826 shares during the period. Acadian Asset Management LLC owned about 3.37% of GRAVITY worth $14,126,000 as of its most recent filing with the Securities and Exchange Commission (SEC).

A number of other hedge funds and other institutional investors have also recently modified their holdings of GRVY. Citadel Advisors LLC purchased a new stake in shares of GRAVITY in the fourth quarter worth $204,000. Two Sigma Investments LP increased its stake in shares of GRAVITY by 67.8% in the fourth quarter. Two Sigma Investments LP now owns 16,716 shares of the technology company's stock worth $1,055,000 after purchasing an additional 6,754 shares in the last quarter. Two Sigma Advisers LP purchased a new stake in shares of GRAVITY in the fourth quarter worth $278,000. Public Employees Retirement System of Ohio increased its stake in shares of GRAVITY by 143.6% in the fourth quarter. Public Employees Retirement System of Ohio now owns 4,828 shares of the technology company's stock worth $305,000 after purchasing an additional 2,846 shares in the last quarter. Finally, GAMMA Investing LLC grew its stake in GRAVITY by 2,135.9% during the first quarter. GAMMA Investing LLC now owns 15,428 shares of the technology company's stock valued at $933,000 after acquiring an additional 14,738 shares in the last quarter. 9.92% of the stock is owned by hedge funds and other institutional investors.

Wall Street Analyst Weigh In

Separately, Wall Street Zen cut shares of GRAVITY from a "buy" rating to a "hold" rating in a research note on Friday, August 22nd.

GRAVITY Price Performance

GRVY stock traded down $0.48 during mid-day trading on Wednesday, reaching $63.98. The company had a trading volume of 3,875 shares, compared to its average volume of 14,401. The company has a market capitalization of $444.63 million, a PE ratio of 7.67 and a beta of 1.05. The firm has a 50 day moving average of $64.08 and a 200 day moving average of $62.08. GRAVITY Co., Ltd. has a 12 month low of $53.12 and a 12 month high of $70.00.

GRAVITY (NASDAQ:GRVY - Get Free Report) last issued its earnings results on Friday, August 8th. The technology company reported $1.41 EPS for the quarter. GRAVITY had a net margin of 17.60% and a return on equity of 17.45%. The business had revenue of $126.15 million for the quarter.

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.