Sage Mountain Advisors LLC Makes New $229,000 Investment in Sony Group Co. (NYSE:SONY)

Sage Mountain Advisors LLC acquired a new position in Sony Group Co. (NYSE:SONYFree Report) in the fourth quarter, HoldingsChannel reports. The institutional investor acquired 2,416 shares of the company’s stock, valued at approximately $229,000.

A number of other hedge funds have also recently added to or reduced their stakes in the business. Morgan Stanley boosted its holdings in Sony Group by 0.4% in the third quarter. Morgan Stanley now owns 4,181,880 shares of the company’s stock worth $344,629,000 after purchasing an additional 15,415 shares during the period. Royal Bank of Canada boosted its holdings in Sony Group by 1.0% in the third quarter. Royal Bank of Canada now owns 1,213,293 shares of the company’s stock worth $99,987,000 after purchasing an additional 12,467 shares during the period. Envestnet Asset Management Inc. boosted its holdings in Sony Group by 39.0% in the third quarter. Envestnet Asset Management Inc. now owns 1,067,247 shares of the company’s stock worth $87,952,000 after purchasing an additional 299,300 shares during the period. Sei Investments Co. lifted its stake in Sony Group by 0.5% in the third quarter. Sei Investments Co. now owns 526,865 shares of the company’s stock valued at $43,419,000 after buying an additional 2,459 shares during the last quarter. Finally, Bank of New York Mellon Corp lifted its stake in Sony Group by 6.9% in the third quarter. Bank of New York Mellon Corp now owns 378,854 shares of the company’s stock valued at $31,221,000 after buying an additional 24,427 shares during the last quarter. Institutional investors and hedge funds own 14.05% of the company’s stock.

Sony Group Price Performance

Shares of NYSE SONY opened at $81.10 on Tuesday. Sony Group Co. has a fifty-two week low of $79.62 and a fifty-two week high of $100.94. The firm’s 50-day simple moving average is $86.48 and its 200 day simple moving average is $88.96. The company has a quick ratio of 0.54, a current ratio of 0.69 and a debt-to-equity ratio of 0.25. The stock has a market cap of $100.10 billion, a P/E ratio of 15.75 and a beta of 0.98.

Sony Group (NYSE:SONYGet Free Report) last issued its quarterly earnings data on Wednesday, February 14th. The company reported $2.00 earnings per share for the quarter, beating analysts’ consensus estimates of $1.68 by $0.32. Sony Group had a net margin of 7.62% and a return on equity of 12.43%. The business had revenue of $25.38 billion for the quarter, compared to analysts’ expectations of $24.31 billion. Equities analysts expect that Sony Group Co. will post 5.21 EPS for the current year.

Wall Street Analysts Forecast Growth

A number of equities research analysts have issued reports on SONY shares. StockNews.com cut Sony Group from a “buy” rating to a “hold” rating in a research note on Monday, April 8th. Macquarie cut Sony Group from an “outperform” rating to a “neutral” rating in a research note on Thursday, February 15th. Oppenheimer reiterated an “outperform” rating and issued a $108.00 target price on shares of Sony Group in a research note on Monday, February 26th. Finally, TheStreet upgraded Sony Group from a “c+” rating to a “b-” rating in a research note on Thursday, January 11th. Two analysts have rated the stock with a hold rating and four have issued a buy rating to the company’s stock. Based on data from MarketBeat.com, the stock presently has a consensus rating of “Moderate Buy” and an average price target of $108.00.

View Our Latest Research Report on SONY

Sony Group Company Profile

(Free Report)

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.

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Institutional Ownership by Quarter for Sony Group (NYSE:SONY)

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