Rhumbline Advisers Buys 74,699 Shares of Sony Group Co. (NYSE:SONY)

Rhumbline Advisers grew its stake in shares of Sony Group Co. (NYSE:SONY) by 402.9% in the 4th quarter, according to its most recent disclosure with the SEC. The institutional investor owned 93,240 shares of the company’s stock after acquiring an additional 74,699 shares during the period. Rhumbline Advisers’ holdings in Sony Group were worth $1,973,000 at the end of the most recent quarter.

A number of other large investors have also made changes to their positions in SONY. Silicon Valley Capital Partners increased its holdings in Sony Group by 401.3% in the 4th quarter. Silicon Valley Capital Partners now owns 1,158 shares of the company’s stock worth $25,000 after buying an additional 927 shares during the period. General Partner Inc. increased its stake in Sony Group by 400.0% during the 4th quarter. General Partner Inc. now owns 1,245 shares of the company’s stock worth $26,000 after buying an additional 996 shares in the last quarter. Newbridge Financial Services Group Inc. acquired a new stake in Sony Group during the 4th quarter worth $26,000. Hilltop National Bank grew its stake in Sony Group by 346.3% during the 4th quarter. Hilltop National Bank now owns 1,513 shares of the company’s stock valued at $32,000 after acquiring an additional 1,174 shares in the last quarter. Finally, Thurston Springer Miller Herd & Titak Inc. increased its holdings in shares of Sony Group by 400.0% in the fourth quarter. Thurston Springer Miller Herd & Titak Inc. now owns 1,505 shares of the company’s stock valued at $32,000 after purchasing an additional 1,204 shares during the last quarter. 14.05% of the stock is owned by institutional investors and hedge funds.

Sony Group Stock Down 1.8 %

Shares of NYSE SONY opened at $24.59 on Tuesday. The business has a 50-day moving average of $22.20 and a two-hundred day moving average of $16.94. The company has a debt-to-equity ratio of 0.25, a current ratio of 0.66 and a quick ratio of 0.49. The company has a market capitalization of $148.71 billion, a price-to-earnings ratio of 19.96, a price-to-earnings-growth ratio of 9.95 and a beta of 0.96. Sony Group Co. has a 1 year low of $15.02 and a 1 year high of $25.64.

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

Analyst Upgrades and Downgrades

A number of equities analysts have commented on SONY shares. StockNews.com downgraded shares of Sony Group from a “buy” rating to a “hold” rating in a research note on Tuesday, February 25th. Oppenheimer restated an “outperform” rating and set a $33.00 target price (up from $25.00) on shares of Sony Group in a report on Thursday, February 20th. Finally, Sanford C. Bernstein started coverage on Sony Group in a research report on Thursday, January 16th. They set an “outperform” rating on the stock. One research analyst has rated the stock with a hold rating, three have assigned 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 price target of $28.00.

Sony Group Company Profile

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.