Apis Capital Advisors LLC Sells 8,000 Shares of GRAVITY Co., Ltd. $GRVY

Key Points

• Apis Capital Advisors LLC reduced its stake in GRAVITY Co., Ltd. by 40%, selling 8,000 shares and now holding a total of 12,000 shares valued at $726,000.
• Other institutional investors, including Cambridge Investment Research Advisors and GAMMA Investing LLC, have recently increased their positions in GRAVITY significantly, indicating growing interest in the company.
• In a recent report, analyst firm Wall Street Zen downgraded GRAVITY's rating from "buy" to "hold," reflecting changing sentiments in the market.

Apis Capital Advisors LLC lessened its stake in GRAVITY Co., Ltd. (NASDAQ:GRVY - Free Report) by 40.0% during the first quarter, according to the company in its most recent 13F filing with the Securities & Exchange Commission. The fund owned 12,000 shares of the technology company's stock after selling 8,000 shares during the quarter. Apis Capital Advisors LLC owned about 0.17% of GRAVITY worth $726,000 at the end of the most recent quarter.

A number of other hedge funds also recently made changes to their positions in GRVY. Cambridge Investment Research Advisors Inc. grew its position in shares of GRAVITY by 64.6% during the 1st quarter. Cambridge Investment Research Advisors Inc. now owns 6,742 shares of the technology company's stock valued at $408,000 after buying an additional 2,645 shares during the last quarter. GAMMA Investing LLC raised its holdings in shares of GRAVITY by 2,135.9% during the 1st quarter. GAMMA Investing LLC now owns 15,428 shares of the technology company's stock valued at $933,000 after purchasing an additional 14,738 shares in the last quarter. Citadel Advisors LLC bought a new position in shares of GRAVITY during the 4th quarter worth about $204,000. Two Sigma Investments LP increased its holdings in shares of GRAVITY by 67.8% during the 4th 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 during the period. Finally, Two Sigma Advisers LP bought a new position in shares of GRAVITY during the 4th quarter worth about $278,000. Institutional investors and hedge funds own 9.92% of the company's stock.

Analyst Upgrades and Downgrades

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

GRAVITY Stock Performance

Shares of NASDAQ GRVY traded up $0.03 during trading on Friday, reaching $64.76. The company had a trading volume of 22,338 shares, compared to its average volume of 14,534. The business's 50 day moving average price is $64.09 and its 200-day moving average price is $61.81. GRAVITY Co., Ltd. has a 52 week low of $53.12 and a 52 week high of $70.00. The stock has a market cap of $450.08 million, a PE ratio of 7.70 and a beta of 1.05.

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

GRAVITY Company Profile

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.