SG Americas Securities LLC reduced its position in Sony Group Co. (NYSE:SONY – Get Rating) by 81.8% in the first quarter, HoldingsChannel reports. The institutional investor held 23,372 shares of the company after selling 104,908 shares during the period. SG Americas Securities LLC’s holdings in Sony Group were worth $2,401,000 at the end of the most recent reporting period.
Several other hedge funds and other institutional investors also changed their positions in SONY. CarsonAllaria Wealth Management Ltd. acquired a new position in Sony Group during the fourth quarter worth approximately $29,000. CVA Family Office LLC acquired a new position in Sony Group shares during Q4 worth approximately $31,000. Hexagon Capital Partners LLC acquired a new stake in Sony Group in Q4 valued at approximately $38,000. DeDora Capital Inc. acquired a new stake in Sony Group during Q1 for $38,000. Finally, CENTRAL TRUST Co increased its position in the Sony group by 86.4% during the fourth quarter. CENTRAL TRUST Co now owns 371 shares of the company worth $47,000 after purchasing an additional 172 shares in the last quarter.
Sony group down 0.3%
NYSE: SONY opened at $86.96 on Friday. Sony Group Co. has a fifty-two week low of $79.05 and a fifty-two week high of $133.75. The company’s 50-day moving average is $86.20 and its two-hundred-day moving average is $96.31. The company has a quick ratio of 0.53, a current ratio of 0.63 and a debt ratio of 0.17.
Sony Group (NYSE:SONY – Get Rating) last released its results on Tuesday, May 10. The company reported earnings per share of $0.77 for the quarter, missing the consensus estimate of $0.82 per ($0.05). Sony Group had a return on equity of 11.51% and a net margin of 8.92%. The company posted revenue of $19.49 billion in the quarter, versus $20.82 billion expected by analysts. On average, stock research analysts expect Sony Group Co. to post earnings per share of 5.87 for the current fiscal year.
Changes to analyst ratings
SONY has been the subject of several analyst reports. Macquarie upgraded Sony Group from a “neutral” rating to an “overperforming” rating in a Friday July 8 research note. TheStreet upgraded Sony Group shares from a ‘b-‘ rating to a ‘c+’ rating in a Tuesday, July 5 research note. StockNews.com began covering Sony Group stocks in a research note on Thursday, March 31. They have placed a “holding” rating on the stock. Citigroup upgraded Sony Group shares from a “buy” rating to a “neutral” rating in a Tuesday, July 5 research note. Finally, Oppenheimer cut his price target on Sony Group from $150.00 to $125.00 and gave the stock an “na” rating in a Wednesday, May 18 research note. Two research analysts gave the stock a hold rating and three gave the stock a buy rating. According to data from MarketBeat.com, the stock currently has a consensus rating of “Moderate Buy” and an average price target of $125.00.
About Sony Group
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Sony Group Corporation designs, develops, produces and sells electronic equipment, instruments and devices for the consumer, professional and industrial markets in Japan, the United States, Europe, China, Asia-Pacific and the international. The Company distributes software titles and complementary content through digital networks; network services relating to gaming, video and music content; and home and portable game consoles, embedded software and peripherals.
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