Gravity (NASDAQ:GRVY) was downgraded by BidaskClub from a “buy” rating to a “hold” rating in a note issued to investors on Wednesday.
Gravity (NASDAQ GRVY) traded down $0.65 during midday trading on Wednesday, hitting $93.11. 52,671 shares of the stock were exchanged, compared to its average volume of 43,059. Gravity has a 12-month low of $13.18 and a 12-month high of $108.97. The company has a market capitalization of $341.53, a PE ratio of 40.35 and a beta of -0.11.
A number of large investors have recently added to or reduced their stakes in the stock. Dorsey Wright & Associates purchased a new stake in Gravity in the fourth quarter worth about $8,679,000. SG Americas Securities LLC purchased a new stake in Gravity in the third quarter worth about $581,000. Millennium Management LLC purchased a new stake in Gravity in the fourth quarter worth about $319,000. Advisor Group Inc. purchased a new stake in Gravity in the fourth quarter worth about $208,000. Finally, Envestnet Asset Management Inc. purchased a new stake in Gravity in the fourth quarter worth about $177,000. 14.04% of the stock is owned by institutional investors.
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Gravity Co, Ltd. is a developer, distributor and publisher of online games in Japan and Taiwan. The Company’s segments include online games, mobile games and other. Its principal product includes Ragnarok Online, which is a multiplayer online role playing game. It categorizes products into over three categories, such as online games; mobile games and applications, and other games and game-related products and services, including character-based merchandise and animation.
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