GAMMA Investing LLC Makes New Investment in Sony Group Co. (NYSE:SONY)

GAMMA Investing LLC purchased a new stake in Sony Group Co. (NYSE:SONY) during the fourth quarter, HoldingsChannel.com reports. The fund purchased 4,295 shares of the company’s stock, valued at approximately $420,000.

A number of other institutional investors and hedge funds have also modified their holdings of SONY. Envestnet Asset Management Inc. grew its holdings in Sony Group by 39.0% in the 3rd quarter. Envestnet Asset Management Inc. now owns 1,067,247 shares of the company’s stock valued at $87,952,000 after buying an additional 299,300 shares during the last quarter. Alberta Investment Management Corp grew its stake in shares of Sony Group by 30.0% in the third quarter. Alberta Investment Management Corp now owns 260,000 shares of the company’s stock worth $21,427,000 after acquiring an additional 60,000 shares during the last quarter. Rovida Advisors Inc. bought a new position in Sony Group during the third quarter worth $4,433,000. SG Americas Securities LLC raised its stake in Sony Group by 2,317.1% during the 4th quarter. SG Americas Securities LLC now owns 54,143 shares of the company’s stock valued at $5,127,000 after purchasing an additional 51,903 shares during the last quarter. Finally, QRG Capital Management Inc. bought a new stake in Sony Group in the 3rd quarter valued at $3,494,000. 14.05% of the stock is currently owned by institutional investors and hedge funds.

Analyst Ratings Changes

A number of brokerages have recently commented on SONY. Macquarie lowered shares of Sony Group from an “outperform” rating to a “neutral” rating in a research report on Thursday, February 15th. StockNews.com cut Sony Group from a “buy” rating to a “hold” rating in a report on Monday, April 8th. TheStreet raised Sony Group from a “c+” rating to a “b-” rating in a report on Thursday, January 11th. Finally, Oppenheimer restated an “outperform” rating and set a $108.00 price objective on shares of Sony Group in a research report on Monday, February 26th. Two equities research analysts have rated the stock with a hold rating and four have given a buy rating to the company. According to MarketBeat, the company has an average rating of “Moderate Buy” and a consensus target price of $108.00.

Sony Group Price Performance

NYSE SONY traded up $1.09 on Wednesday, reaching $82.90. The company’s stock had a trading volume of 402,679 shares, compared to its average volume of 775,050. Sony Group Co. has a 52 week low of $79.62 and a 52 week high of $100.94. The company has a current ratio of 0.69, a quick ratio of 0.54 and a debt-to-equity ratio of 0.25. The firm has a market cap of $102.32 billion, a PE ratio of 15.80 and a beta of 0.98. The business has a 50-day moving average price of $86.20 and a 200 day moving average price of $88.95.

Sony Group (NYSE:SONY) last released its quarterly earnings data on Wednesday, February 14th. The company reported $2.00 earnings per share for the quarter, beating analysts’ consensus estimates of $1.68 by $0.32. Sony Group had a return on equity of 12.43% and a net margin of 7.62%. The company had revenue of $25.38 billion for the quarter, compared to the consensus estimate of $24.31 billion. Sell-side analysts expect that Sony Group Co. will post 5.21 EPS for the current 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.