BidaskClub Lowers Gravity (NASDAQ:GRVY) to Sell

BidaskClub downgraded shares of Gravity (NASDAQ:GRVY) from a hold rating to a sell rating in a research note released on Tuesday, April 10th.

GRVY stock traded up $0.01 during mid-day trading on Tuesday, reaching $79.51. The company had a trading volume of 2,204 shares, compared to its average volume of 36,371. Gravity has a 52 week low of $13.18 and a 52 week high of $108.97. The company has a market cap of $277.92, a price-to-earnings ratio of 35.40 and a beta of 0.05.

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Several hedge funds and other institutional investors have recently modified their holdings of the company. Envestnet Asset Management Inc. bought a new position in shares of Gravity during the 4th quarter worth approximately $177,000. Millennium Management LLC acquired a new stake in Gravity during the 4th quarter worth approximately $319,000. Dorsey Wright & Associates acquired a new stake in Gravity during the 4th quarter worth approximately $8,679,000. Finally, Advisor Group Inc. acquired a new stake in Gravity during the 4th quarter worth approximately $208,000. Institutional investors own 14.04% of the company’s stock.

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Gravity Company Profile

Gravity Co, Ltd. develops and publishes online games in South Korea, Japan, the United States, Canada, Taiwan, Hong Kong, Macau, China, and internationally. It offers 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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