GRAVITY Co., Ltd. $GRVY Shares Sold by Trexquant Investment LP

Key Points

• Trexquant Investment LP has reduced its stake in GRAVITY Co., Ltd. by 29.9%, now holding 9,325 shares valued at $564,000.
• Institutional investors own approximately 9.92% of GRAVITY's shares, with several firms, including Boston Partners and Cambridge Investment Research Advisors Inc., increasing their positions in the first quarter.
• GRAVITY's stock rating has been downgraded from "buy" to "hold" by Wall Street Zen, following its recent earnings report showing an EPS of $1.41 for the quarter.

Trexquant Investment LP trimmed its position in shares of GRAVITY Co., Ltd. (NASDAQ:GRVY - Free Report) by 29.9% during the 1st quarter, according to its most recent 13F filing with the Securities and Exchange Commission (SEC). The firm owned 9,325 shares of the technology company's stock after selling 3,978 shares during the period. Trexquant Investment LP owned 0.13% of GRAVITY worth $564,000 at the end of the most recent reporting period.

Several other institutional investors and hedge funds have also recently modified their holdings of GRVY. Wealthquest Corp bought a new stake in shares of GRAVITY during the 1st quarter valued at $202,000. Citadel Advisors LLC purchased a new position in shares of GRAVITY in the 4th quarter worth $204,000. Charles Schwab Investment Management Inc. bought a new position in GRAVITY during the 1st quarter valued at about $212,000. Two Sigma Advisers LP bought a new position in GRAVITY during the 4th quarter valued at about $278,000. Finally, Public Employees Retirement System of Ohio grew its holdings in GRAVITY by 143.6% during the 4th quarter. Public Employees Retirement System of Ohio now owns 4,828 shares of the technology company's stock valued at $305,000 after purchasing an additional 2,846 shares during the last quarter. 9.92% of the stock is currently owned by institutional investors.

GRAVITY Price Performance

GRAVITY stock traded down $0.50 during mid-day trading on Friday, reaching $64.01. 8,752 shares of the company traded hands, compared to its average volume of 9,480. GRAVITY Co., Ltd. has a fifty-two week low of $53.12 and a fifty-two week high of $70.00. The company has a market capitalization of $444.87 million, a price-to-earnings ratio of 7.68 and a beta of 1.05. The firm's fifty day moving average is $64.06 and its two-hundred day moving average is $61.98.

GRAVITY (NASDAQ:GRVY - Get Free Report) last issued its quarterly earnings results on Friday, August 8th. The technology company reported $1.41 earnings per share (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.

Analysts Set New Price Targets

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

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.