Bleakley Financial Group LLC Has $314,000 Position in Sony Group Co. (NYSE:SONY)

Bleakley Financial Group LLC cut its holdings in Sony Group Co. (NYSE:SONY) by 59.2% in the 3rd quarter, according to the company in its most recent filing with the Securities and Exchange Commission. The institutional investor owned 3,254 shares of the company’s stock after selling 4,730 shares during the period. Bleakley Financial Group LLC’s holdings in Sony Group were worth $314,000 as of its most recent filing with the Securities and Exchange Commission.

A number of other hedge funds and other institutional investors also recently made changes to their positions in the business. Thurston Springer Miller Herd & Titak Inc. acquired a new stake in Sony Group in the second quarter worth $26,000. Sunbelt Securities Inc. bought a new position in Sony Group in the first quarter worth approximately $29,000. Ridgewood Investments LLC bought a new position in Sony Group in the second quarter worth approximately $41,000. Family Firm Inc. acquired a new stake in Sony Group in the second quarter valued at approximately $44,000. Finally, Hobbs Group Advisors LLC bought a new stake in shares of Sony Group during the second quarter valued at approximately $49,000. 14.05% of the stock is owned by institutional investors and hedge funds.

Sony Group Trading Down 2.1 %

NYSE SONY opened at $17.51 on Thursday. 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 business has a fifty day simple moving average of $8.86 and a 200 day simple moving average of $5.31. Sony Group Co. has a 12 month low of $15.02 and a 12 month high of $20.18. The firm has a market capitalization of $21.61 billion, a P/E ratio of 3.23 and a beta of 0.94.

Sony Group (NYSE:SONY) last posted its earnings results on Wednesday, August 7th. The company reported $0.05 earnings per share (EPS) for the quarter, topping the consensus estimate of $0.04 by $0.01. Sony Group had a net margin of 7.59% and a return on equity of 12.82%. The firm had revenue of $19.32 billion during the quarter, compared to analyst estimates of $17.42 billion. On average, analysts predict that Sony Group Co. will post 0.6 EPS for the current fiscal year.

Analyst Upgrades and Downgrades

Several analysts recently issued reports on the stock. StockNews.com downgraded shares of Sony Group from a “buy” rating to a “hold” rating in a research report on Thursday, October 17th. Daiwa America upgraded shares of Sony Group to a “strong-buy” rating in a report on Wednesday, September 18th. Finally, TD Cowen decreased their target price on shares of Sony Group from $107.00 to $23.00 and set a “buy” rating for the company in a research report on Friday, October 11th. Two investment analysts have rated the stock with a hold rating, three have issued a buy rating and one has given a strong buy rating to the company. According to data from MarketBeat.com, the stock has a consensus rating of “Moderate Buy” and an average price target of $13.66.

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.