ABC Arbitrage SA Invests $1.11 Million in Sony Group Co. (NYSE:SONY)

ABC Arbitrage SA bought a new stake in Sony Group Co. (NYSE:SONY) in the 4th quarter, Holdings Channel reports. The firm bought 52,657 shares of the company’s stock, valued at approximately $1,114,000.

Several other hedge funds and other institutional investors have also made changes to their positions in SONY. Creative Planning grew its stake in shares of Sony Group by 6.6% in the third quarter. Creative Planning now owns 303,295 shares of the company’s stock valued at $29,289,000 after buying an additional 18,659 shares in the last quarter. Stonegate Investment Group LLC bought a new position in shares of Sony Group in the third quarter valued at $251,000. Stratos Wealth Advisors LLC bought a new position in Sony Group during the third quarter worth $220,000. Blue Trust Inc. boosted its position in Sony Group by 64.4% during the third quarter. Blue Trust Inc. now owns 5,662 shares of the company’s stock worth $547,000 after purchasing an additional 2,217 shares during the period. Finally, Raymond James & Associates boosted its position in Sony Group by 4.1% during the third quarter. Raymond James & Associates now owns 286,528 shares of the company’s stock worth $27,670,000 after purchasing an additional 11,268 shares during the period. 14.05% of the stock is owned by institutional investors.

Sony Group Stock Up 4.2 %

SONY opened at $24.16 on Friday. Sony Group Co. has a fifty-two week low of $15.02 and a fifty-two week high of $24.25. The company has a debt-to-equity ratio of 0.25, a quick ratio of 0.49 and a current ratio of 0.66. The company has a market capitalization of $146.08 billion, a P/E ratio of 19.77, a P/E/G ratio of 11.46 and a beta of 0.96. The stock has a fifty day moving average of $21.46 and a 200-day moving average of $15.20.

Sony Group (NYSE:SONY) last posted its earnings results on Thursday, February 13th. The company reported $0.41 earnings per share for the quarter, topping analysts’ consensus estimates of $0.27 by $0.14. Sony Group had a return on equity of 14.27% and a net margin of 8.55%. The company had revenue of $28.95 billion during the quarter, compared to the consensus estimate of $24.32 billion. On average, equities analysts expect that Sony Group Co. will post 1.21 EPS for the current year.

Analyst Upgrades and Downgrades

A number of research firms have commented on SONY. Oppenheimer reduced their price objective on shares of Sony Group from $108.00 to $25.00 and set an “outperform” rating for the company in a research report on Tuesday, November 12th. Sanford C. Bernstein began coverage on shares of Sony Group in a research report on Thursday, January 16th. They set an “outperform” rating for the company. Finally, StockNews.com cut shares of Sony Group from a “strong-buy” rating to a “buy” rating in a research report on Tuesday, November 19th. Four analysts have rated the stock with a buy rating and one has issued a strong buy rating to the company. According to data from MarketBeat, Sony Group has a consensus rating of “Buy” and an average target price of $24.00.

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.