Bank of Montreal Can Cuts Stake in Sony Group Co. (NYSE:SONY)

Bank of Montreal Can cut its position in Sony Group Co. (NYSE:SONY) by 0.6% in the 3rd quarter, Holdings Channel reports. The institutional investor owned 116,391 shares of the company’s stock after selling 695 shares during the quarter. Bank of Montreal Can’s holdings in Sony Group were worth $11,192,000 as of its most recent SEC filing.

Several other hedge funds and other institutional investors have also recently made changes to their positions in the company. Thurston Springer Miller Herd & Titak Inc. purchased a new position in Sony Group in the 2nd quarter worth approximately $26,000. Ridgewood Investments LLC bought a new stake in shares of Sony Group in the 2nd quarter worth $41,000. Family Firm Inc. purchased a new position in shares of Sony Group in the second quarter worth $44,000. Hobbs Group Advisors LLC bought a new position in shares of Sony Group during the second quarter valued at $49,000. Finally, Hexagon Capital Partners LLC boosted its position in shares of Sony Group by 38.6% during the third quarter. Hexagon Capital Partners LLC now owns 836 shares of the company’s stock valued at $81,000 after buying an additional 233 shares during the last quarter. Institutional investors own 14.05% of the company’s stock.

Wall Street Analyst Weigh In

A number of brokerages have weighed in on SONY. Oppenheimer decreased their target price on Sony Group from $108.00 to $25.00 and set an “outperform” rating for the company in a research report on Tuesday, November 12th. Daiwa America raised shares of Sony Group to a “strong-buy” rating in a report on Wednesday, September 18th. TD Cowen dropped their target price on shares of Sony Group from $107.00 to $23.00 and set a “buy” rating on the stock in a report on Friday, October 11th. Finally, StockNews.com lowered shares of Sony Group from a “strong-buy” rating to a “buy” rating in a research note on Tuesday, November 19th. One analyst has rated the stock with a hold rating, four have assigned a buy rating and one has issued a strong buy rating to the company’s stock. According to MarketBeat, Sony Group currently has an average rating of “Buy” and an average target price of $24.00.

Sony Group Price Performance

Shares of NYSE:SONY opened at $20.05 on Monday. The firm’s 50 day moving average price is $17.19 and its 200-day moving average price is $8.29. The company has a quick ratio of 0.49, a current ratio of 0.66 and a debt-to-equity ratio of 0.25. The stock has a market capitalization of $121.26 billion, a PE ratio of 16.43, a price-to-earnings-growth ratio of 12.70 and a beta of 0.95. Sony Group Co. has a twelve month low of $15.02 and a twelve month high of $20.67.

Sony Group 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.