AQR Capital Management LLC Acquires New Position in Sony Group Co. (NYSE:SONY)

AQR Capital Management LLC acquired a new stake in shares of Sony Group Co. (NYSE:SONY) in the second quarter, according to its most recent filing with the Securities and Exchange Commission. The fund acquired 4,573 shares of the company’s stock, valued at approximately $388,000.

Other hedge funds also recently made changes to their positions in the company. Thurston Springer Miller Herd & Titak Inc. bought a new position in shares of Sony Group during the 2nd quarter valued at approximately $26,000. Sunbelt Securities Inc. bought a new position in shares of Sony Group during the 1st quarter valued at approximately $29,000. Rise Advisors LLC lifted its holdings in Sony Group by 259.2% in the 1st quarter. Rise Advisors LLC now owns 352 shares of the company’s stock worth $30,000 after purchasing an additional 254 shares in the last quarter. Ridgewood Investments LLC purchased a new position in Sony Group in the 2nd quarter worth approximately $41,000. Finally, Family Firm Inc. purchased a new position in Sony Group in the 2nd quarter worth approximately $44,000. 14.05% of the stock is currently owned by institutional investors.

Analysts Set New Price Targets

A number of research analysts recently commented on SONY shares. StockNews.com raised Sony Group from a “hold” rating to a “buy” rating in a report on Wednesday, October 9th. TD Cowen lowered their price target on Sony Group from $107.00 to $23.00 and set a “buy” rating on the stock in a report on Friday, October 11th. Finally, Daiwa America raised Sony Group to a “strong-buy” rating in a report on Wednesday, September 18th. One analyst has rated the stock with a hold rating, five have given a buy rating and one has assigned a strong buy rating to the company. According to MarketBeat.com, Sony Group presently has an average rating of “Buy” and a consensus target price of $22.30.

Sony Group Stock Down 2.3 %

Shares of SONY opened at $18.66 on Wednesday. The stock has a market capitalization of $23.03 billion, a price-to-earnings ratio of 3.43 and a beta of 0.94. Sony Group Co. has a 1 year low of $15.02 and a 1 year high of $20.18. The business’s 50 day simple moving average is $29.30 and its 200-day simple moving average is $21.27. The company has a debt-to-equity ratio of 0.26, a current ratio of 0.63 and a quick ratio of 0.47.

Sony Group (NYSE:SONY) last issued its quarterly earnings data on Wednesday, August 7th. The company reported $0.24 earnings per share (EPS) for the quarter, topping the consensus estimate of $0.22 by $0.02. The business had revenue of $19.32 billion for the quarter, compared to analysts’ expectations of $17.42 billion. Sony Group had a return on equity of 12.82% and a net margin of 7.59%. As a group, equities analysts expect that Sony Group Co. will post 0.61 earnings per share for the current fiscal year.

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.