ETF Managers Group LLC raised its stake in Gravity (NASDAQ:GRVY) by 65.4% in the 1st quarter, according to the company in its most recent disclosure with the Securities and Exchange Commission. The institutional investor owned 35,142 shares of the technology company’s stock after purchasing an additional 13,889 shares during the period. ETF Managers Group LLC owned 1.01% of Gravity worth $2,849,000 as of its most recent SEC filing.
A number of other institutional investors and hedge funds also recently bought and sold shares of the business. Envestnet Asset Management Inc. bought a new stake in Gravity in the fourth quarter valued at $177,000. Advisor Group Inc. bought a new stake in Gravity in the fourth quarter valued at $208,000. Atria Investments LLC bought a new stake in Gravity in the first quarter valued at $233,000. Millennium Management LLC bought a new stake in Gravity in the fourth quarter valued at $319,000. Finally, Citadel Advisors LLC bought a new stake in Gravity in the first quarter valued at $352,000. 12.45% of the stock is owned by hedge funds and other institutional investors.
GRVY opened at $61.56 on Thursday. The firm has a market capitalization of $259.99 million, a price-to-earnings ratio of 18.62 and a beta of 0.10. Gravity has a 1-year low of $13.18 and a 1-year high of $108.97.
Several equities research analysts have weighed in on the stock. BidaskClub downgraded shares of Gravity from a “hold” rating to a “sell” rating in a research note on Tuesday, April 10th. ValuEngine raised shares of Gravity from a “hold” rating to a “buy” rating in a research note on Thursday, May 3rd.
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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