JPMorgan Chase & Co. Lowers Position in Gravity Co., Ltd. (NASDAQ:GRVY)

JPMorgan Chase & Co. trimmed its position in shares of Gravity Co., Ltd. (NASDAQ:GRVY) by 93.1% during the third quarter, according to its most recent filing with the Securities and Exchange Commission (SEC). The fund owned 483 shares of the technology company’s stock after selling 6,496 shares during the quarter. JPMorgan Chase & Co.’s holdings in Gravity were worth $29,000 as of its most recent filing with the Securities and Exchange Commission (SEC).

Several other institutional investors have also recently made changes to their positions in GRVY. Public Employees Retirement System of Ohio bought a new position in shares of Gravity during the third quarter valued at about $117,000. BNP Paribas Financial Markets lifted its position in shares of Gravity by 12.6% during the 3rd quarter. BNP Paribas Financial Markets now owns 27,137 shares of the technology company’s stock worth $1,609,000 after buying an additional 3,030 shares in the last quarter. Pekin Hardy Strauss Inc. purchased a new position in shares of Gravity in the 3rd quarter worth approximately $2,977,000. Finally, Creative Planning grew its holdings in shares of Gravity by 7.3% in the second quarter. Creative Planning now owns 3,801 shares of the technology company’s stock valued at $307,000 after acquiring an additional 260 shares in the last quarter. Institutional investors own 9.92% of the company’s stock.

Analyst Upgrades and Downgrades

Separately, StockNews.com upgraded Gravity from a “hold” rating to a “buy” rating in a report on Thursday, November 14th.

Gravity Stock Performance

Shares of NASDAQ:GRVY opened at $62.73 on Wednesday. Gravity Co., Ltd. has a fifty-two week low of $57.37 and a fifty-two week high of $88.85. The company’s 50-day moving average is $63.15 and its 200 day moving average is $64.33. The company has a market capitalization of $435.97 million, a P/E ratio of 6.99 and a beta of 1.32.

Gravity (NASDAQ:GRVY) last released its earnings results on Tuesday, November 12th. The technology company reported $2.45 earnings per share for the quarter. Gravity had a net margin of 14.98% and a return on equity of 34.76%. The firm had revenue of $97.63 million for the quarter.

Gravity Company Profile

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.