Parallel Advisors LLC Sells 177 Shares of Sony Group Co. (NYSE:SONY)

Parallel Advisors LLC reduced its stake in Sony Group Co. (NYSE:SONY) by 2.7% during the 2nd quarter, according to its most recent 13F filing with the Securities & Exchange Commission. The fund owned 6,441 shares of the company’s stock after selling 177 shares during the period. Parallel Advisors LLC’s holdings in Sony Group were worth $547,000 at the end of the most recent quarter.

Several other hedge funds and other institutional investors have also made changes to their positions in SONY. Harding Loevner LP boosted its position in shares of Sony Group by 2,206.6% in the 4th quarter. Harding Loevner LP now owns 2,280,016 shares of the company’s stock worth $219,419,000 after purchasing an additional 2,181,169 shares during the last quarter. Mondrian Investment Partners LTD lifted its holdings in Sony Group by 43.4% during the first quarter. Mondrian Investment Partners LTD now owns 2,558,527 shares of the company’s stock worth $220,033,000 after acquiring an additional 774,502 shares in the last quarter. Fisher Asset Management LLC lifted its holdings in Sony Group by 5.7% during the fourth quarter. Fisher Asset Management LLC now owns 6,358,712 shares of the company’s stock worth $602,106,000 after acquiring an additional 341,566 shares in the last quarter. Envestnet Asset Management Inc. lifted its holdings in Sony Group by 26.0% during the fourth quarter. Envestnet Asset Management Inc. now owns 1,344,784 shares of the company’s stock worth $127,338,000 after acquiring an additional 277,537 shares in the last quarter. Finally, Manning & Napier Advisors LLC bought a new position in Sony Group during the second quarter worth about $18,567,000. 14.05% of the stock is currently owned by institutional investors.

Sony Group Stock Performance

SONY stock opened at $90.58 on Wednesday. The business’s 50-day moving average price is $91.09 and its two-hundred day moving average price is $86.45. 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 firm has a market cap of $111.80 billion, a PE ratio of 16.65 and a beta of 0.95. Sony Group Co. has a 1-year low of $75.11 and a 1-year high of $100.88.

Sony Group shares are scheduled to split on the morning of Monday, September 30th. The 5-1 split was announced on Tuesday, May 14th. The newly minted shares will be issued to shareholders after the market closes on Monday, September 30th.

Sony Group (NYSE:SONY) last released its quarterly earnings results on Wednesday, August 7th. The company reported $1.22 earnings per share (EPS) for the quarter, beating the consensus estimate of $1.11 by $0.11. Sony Group had a return on equity of 12.82% and a net margin of 7.59%. The firm had revenue of $19.32 billion for the quarter, compared to the consensus estimate of $17.42 billion. As a group, research analysts forecast that Sony Group Co. will post 5.63 earnings per share for the current year.

Wall Street Analyst Weigh In

Separately, StockNews.com lowered Sony Group from a “buy” rating to a “hold” rating in a report on Wednesday, August 21st. Two equities research analysts have rated the stock with a hold rating and three have assigned a buy rating to the company’s stock. According to MarketBeat.com, Sony Group presently has a consensus rating of “Moderate Buy” and an average target price of $108.00.

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.