Stonegate Investment Group LLC Acquires New Position in Sony Group Co. (NYSE:SONY)

Stonegate Investment Group LLC bought a new position in shares of Sony Group Co. (NYSE:SONY) during the 3rd quarter, according to its most recent disclosure with the SEC. The institutional investor bought 2,597 shares of the company’s stock, valued at approximately $251,000.

A number of other hedge funds also recently added to or reduced their stakes in the business. HighPoint Advisor Group LLC acquired a new stake in Sony Group in the 4th quarter valued at about $247,000. Mather Group LLC. acquired a new stake in Sony Group in the first quarter valued at approximately $100,000. Ballentine Partners LLC lifted its stake in Sony Group by 18.8% in the first quarter. Ballentine Partners LLC now owns 10,787 shares of the company’s stock worth $925,000 after acquiring an additional 1,710 shares during the last quarter. Sunbelt Securities Inc. acquired a new position in Sony Group during the 1st quarter worth approximately $29,000. Finally, Scharf Investments LLC increased its position in shares of Sony Group by 3.9% in the 1st quarter. Scharf Investments LLC now owns 18,323 shares of the company’s stock valued at $1,571,000 after purchasing an additional 680 shares during the last quarter. 14.05% of the stock is currently owned by institutional investors and hedge funds.

Analyst Ratings Changes

Several equities research analysts have recently issued reports on the stock. TD Cowen decreased their price objective on shares of Sony Group from $107.00 to $23.00 and set a “buy” rating for the company in a research report on Friday, October 11th. Daiwa America upgraded Sony Group to a “strong-buy” rating in a research note on Wednesday, September 18th. Finally, StockNews.com cut Sony Group from a “buy” rating to a “hold” rating in a research report on Thursday. Two analysts have rated the stock with a hold rating, three have issued a buy rating and one has assigned a strong buy rating to the company’s stock. Based on data from MarketBeat.com, Sony Group currently has an average rating of “Moderate Buy” and a consensus price target of $22.30.

Sony Group Trading Down 1.6 %

Shares of Sony Group stock opened at $18.22 on Friday. The company has a current ratio of 0.63, a quick ratio of 0.47 and a debt-to-equity ratio of 0.26. The company has a fifty day simple moving average of $29.39 and a 200-day simple moving average of $21.27. The stock has a market cap of $22.49 billion, a price-to-earnings ratio of 3.35 and a beta of 0.94. Sony Group Co. has a 12-month low of $15.02 and a 12-month high of $20.18.

Sony Group (NYSE:SONY) last released its quarterly earnings data on Wednesday, August 7th. The company reported $0.24 earnings per share (EPS) for the quarter, beating the consensus estimate of $0.22 by $0.02. The company had revenue of $19.32 billion during the quarter, compared to the consensus estimate of $17.42 billion. Sony Group had a net margin of 7.59% and a return on equity of 12.82%. On average, equities analysts forecast that Sony Group Co. will post 0.6 EPS for the current fiscal year.

Sony Group Company Profile

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, the Asia-Pacific, and internationally. The company distributes software titles and add-on content through digital networks; network services related to game, video, and music content; and home gaming consoles, packaged and game software, and peripheral devices.