GRAVITY (NASDAQ:GRVY) Announces Earnings Results

Key Points

• GRAVITY (NASDAQ:GRVY) reported quarterly earnings of $1.41 per share, with a net margin of 19.17% and a return on equity of 18.07%.
• Shares of GRAVITY traded down $0.10 to $63.75, with institutional investors holding 9.92% of the company's stock.
• Wall Street analysts recently upgraded GRAVITY's rating from "hold" to "buy", indicating positive growth expectations for the company.

GRAVITY (NASDAQ:GRVY - Get Free Report) issued its earnings results on Friday. The technology company reported $1.41 earnings per share (EPS) for the quarter, Zacks reports. The business 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 Stock Performance

Shares of GRVY traded up $1.13 during mid-day trading on Wednesday, reaching $69.33. The stock had a trading volume of 15,484 shares, compared to its average volume of 14,968. The firm has a market cap of $481.81 million, a price-to-earnings ratio of 8.31 and a beta of 1.23. GRAVITY has a 12 month low of $53.12 and a 12 month high of $70.00. The business has a fifty day moving average of $63.41 and a 200 day moving average of $61.50.

Hedge Funds Weigh In On GRAVITY

A hedge fund recently raised its stake in GRAVITY stock. JPMorgan Chase & Co. increased its stake in shares of GRAVITY Co., Ltd. (NASDAQ:GRVY - Free Report) by 1,052.3% in the second quarter, according to the company in its most recent Form 13F filing with the SEC. The fund owned 3,457 shares of the technology company's stock after acquiring an additional 3,157 shares during the quarter. JPMorgan Chase & Co.'s holdings in GRAVITY were worth $220,000 at the end of the most recent quarter. 9.92% of the stock is currently owned by hedge funds and other institutional investors.

Analyst Upgrades and Downgrades

Separately, Wall Street Zen upgraded shares of GRAVITY from a "hold" rating to a "buy" rating in a research report on Saturday, June 14th.

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.