GRAVITY (NASDAQ:GRVY) Posts Earnings Results

GRAVITY (NASDAQ:GRVY) announced its quarterly earnings data on Friday. The technology company reported $2.81 earnings per share (EPS) for the quarter, FiscalAI reports. GRAVITY had a net margin of 11.94% and a return on equity of 10.71%. The company had revenue of $107.61 million during the quarter.

GRAVITY Stock Up 8.0%

Shares of GRAVITY stock traded up $4.85 during trading on Friday, reaching $65.46. The company’s stock had a trading volume of 43,769 shares, compared to its average volume of 34,580. GRAVITY has a 52-week low of $54.54 and a 52-week high of $74.75. The company has a market cap of $454.95 million, a price-to-earnings ratio of 9.81 and a beta of 0.99. The firm’s 50-day moving average is $62.30 and its two-hundred day moving average is $61.16.

Institutional Investors Weigh In On GRAVITY

Several institutional investors have recently added to or reduced their stakes in GRVY. MIRAE ASSET GLOBAL ETFS HOLDINGS Ltd. boosted its position in GRAVITY by 13.3% during the 1st quarter. MIRAE ASSET GLOBAL ETFS HOLDINGS Ltd. now owns 10,644 shares of the technology company’s stock valued at $644,000 after buying an additional 1,248 shares during the period. JPMorgan Chase & Co. boosted its position in GRAVITY by 1,052.3% during the 2nd quarter. JPMorgan Chase & Co. now owns 3,457 shares of the technology company’s stock valued at $220,000 after buying an additional 3,157 shares during the period. Bank of America Corp DE boosted its position in GRAVITY by 11.3% during the 2nd quarter. Bank of America Corp DE now owns 2,782 shares of the technology company’s stock valued at $177,000 after buying an additional 282 shares during the period. Militia Capital Partners LP boosted its position in GRAVITY by 16.1% during the 2nd quarter. Militia Capital Partners LP now owns 53,000 shares of the technology company’s stock valued at $3,376,000 after buying an additional 7,344 shares during the period. Finally, GSA Capital Partners LLP boosted its position in GRAVITY by 137.0% during the 3rd quarter. GSA Capital Partners LLP now owns 7,574 shares of the technology company’s stock valued at $485,000 after buying an additional 4,378 shares during the period. Hedge funds and other institutional investors own 9.92% of the company’s stock.

GRAVITY Company Profile

Gravity Co, Ltd is a South Korea–based developer and publisher of online games, best known for creating the Ragnarok franchise. Since its founding in 2000 by industry veteran Kim Sang-young, the company has specialized in massively multiplayer online role?playing games (MMORPGs) and related digital content. Over the years, Gravity has expanded its portfolio beyond its flagship title to include sequels, spin-offs and mobile adaptations targeted at a global audience.

The company’s product lineup centers on PC and mobile MMORPGs built on the Ragnarok intellectual property.