Gamco Investors INC. ET AL Purchases 5,038,245 Shares of Sony Group Co. (NYSE:SONY)

Gamco Investors INC. ET AL lifted its position in Sony Group Co. (NYSE:SONY) by 391.8% in the fourth quarter, according to its most recent Form 13F filing with the Securities and Exchange Commission. The institutional investor owned 6,324,174 shares of the company’s stock after purchasing an additional 5,038,245 shares during the quarter. Sony Group accounts for 1.4% of Gamco Investors INC. ET AL’s portfolio, making the stock its 7th largest position. Gamco Investors INC. ET AL’s holdings in Sony Group were worth $133,820,000 at the end of the most recent reporting period.

Other hedge funds and other institutional investors have also recently bought and sold shares of the company. Primecap Management Co. CA grew its position in Sony Group by 379.5% in the fourth quarter. Primecap Management Co. CA now owns 101,995,855 shares of the company’s stock valued at $2,158,232,000 after acquiring an additional 80,724,932 shares during the period. Fisher Asset Management LLC lifted its holdings in Sony Group by 425.9% during the 4th quarter. Fisher Asset Management LLC now owns 45,420,092 shares of the company’s stock valued at $961,089,000 after purchasing an additional 36,783,737 shares during the last quarter. Mondrian Investment Partners LTD boosted its position in Sony Group by 358.2% in the fourth quarter. Mondrian Investment Partners LTD now owns 10,138,119 shares of the company’s stock valued at $223,039,000 after buying an additional 7,925,643 shares in the last quarter. Envestnet Asset Management Inc. grew its stake in Sony Group by 401.8% during the fourth quarter. Envestnet Asset Management Inc. now owns 7,141,717 shares of the company’s stock worth $151,119,000 after buying an additional 5,718,378 shares during the last quarter. Finally, Gabelli Funds LLC increased its holdings in shares of Sony Group by 389.3% during the fourth quarter. Gabelli Funds LLC now owns 6,369,581 shares of the company’s stock worth $134,780,000 after buying an additional 5,067,835 shares in the last quarter. 14.05% of the stock is owned by institutional investors.

Sony Group Trading Up 2.1 %

Shares of NYSE SONY opened at $23.43 on Tuesday. The company’s 50 day simple moving average is $23.95 and its 200 day simple moving average is $21.36. The company has a debt-to-equity ratio of 0.25, a current ratio of 0.66 and a quick ratio of 0.49. Sony Group Co. has a fifty-two week low of $15.02 and a fifty-two week high of $25.78. The firm has a market capitalization of $141.70 billion, a P/E ratio of 19.02, a P/E/G ratio of 9.95 and a beta of 0.94.

Sony Group (NYSE:SONY) last announced its quarterly earnings data on Thursday, February 13th. The company reported $0.41 EPS for the quarter, topping analysts’ consensus estimates of $0.27 by $0.14. Sony Group had a return on equity of 14.10% and a net margin of 8.21%. The business had revenue of $28.95 billion during the quarter, compared to analysts’ expectations of $24.32 billion. On average, analysts predict that Sony Group Co. will post 1.23 EPS for the current year.

Analyst Ratings Changes

A number of equities research analysts recently commented on the company. Oppenheimer restated an “outperform” rating and set a $33.00 price target (up from $25.00) on shares of Sony Group in a research report on Thursday, February 20th. StockNews.com cut Sony Group from a “buy” rating to a “hold” rating in a report on Tuesday, February 25th. Wolfe Research reissued a “peer perform” rating on shares of Sony Group in a report on Monday, April 7th. Sanford C. Bernstein assumed coverage on shares of Sony Group in a research report on Thursday, January 16th. They set an “outperform” rating on the stock. Finally, The Goldman Sachs Group initiated coverage on shares of Sony Group in a report on Tuesday, March 25th. They issued a “buy” rating for the company. Two analysts have rated the stock with a hold rating, four have issued a buy rating and one has assigned a strong buy rating to the company. According to data from MarketBeat.com, Sony Group presently has a consensus rating of “Moderate Buy” and a consensus target price of $28.00.

About Sony Group

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.