Sony Group (NYSE:SONY) Sees Unusually-High Trading Volume – Here’s Why

Sony Group Co. (NYSE:SONY) shares saw an uptick in trading volume on Monday . 4,877,318 shares changed hands during trading, an increase of 20% from the previous session’s volume of 4,070,174 shares.The stock last traded at $24.40 and had previously closed at $24.10.

Wall Street Analyst Weigh In

Several research firms recently commented on SONY. StockNews.com downgraded shares of Sony Group from a “buy” rating to a “hold” rating in a research report on Tuesday, February 25th. Oppenheimer reiterated an “outperform” rating and set a $33.00 target price (up from $25.00) on shares of Sony Group in a research report on Thursday, February 20th. Finally, Sanford C. Bernstein started coverage on shares of Sony Group in a research report on Thursday, January 16th. They set an “outperform” rating on the stock. One equities research analyst has rated the stock with a hold rating, three have issued a buy rating and one has assigned a strong buy rating to the stock. According to data from MarketBeat.com, the company has an average rating of “Buy” and an average price target of $28.00.

Sony Group Trading Up 0.2 %

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 firm’s fifty day simple moving average is $22.81 and its 200-day simple moving average is $18.51. The stock has a market cap of $148.55 billion, a P/E ratio of 19.94, a price-to-earnings-growth ratio of 9.95 and a beta of 0.91.

Sony Group (NYSE:SONY) last released its quarterly earnings results 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 net margin of 8.21% and a return on equity of 14.10%. The firm had revenue of $28.95 billion during the quarter, compared to analyst estimates of $24.32 billion. Equities research analysts expect that Sony Group Co. will post 1.23 EPS for the current fiscal year.

Institutional Trading of Sony Group

Several hedge funds have recently modified their holdings of SONY. Primecap Management Co. CA increased its stake in shares of Sony Group by 379.5% in the 4th quarter. Primecap Management Co. CA now owns 101,995,855 shares of the company’s stock valued at $2,158,232,000 after acquiring an additional 80,724,932 shares in the last quarter. Aristotle Capital Management LLC increased its stake in shares of Sony Group by 393.7% in the 4th quarter. Aristotle Capital Management LLC now owns 52,771,882 shares of the company’s stock valued at $1,116,653,000 after acquiring an additional 42,083,842 shares in the last quarter. Fisher Asset Management LLC increased its stake in shares of Sony Group by 425.9% in the 4th quarter. Fisher Asset Management LLC now owns 45,420,092 shares of the company’s stock valued at $961,089,000 after acquiring an additional 36,783,737 shares in the last quarter. Bank of America Corp DE increased its stake in shares of Sony Group by 377.7% in the 4th quarter. Bank of America Corp DE now owns 23,804,970 shares of the company’s stock valued at $503,713,000 after acquiring an additional 18,821,902 shares in the last quarter. Finally, Fiduciary Management Inc. WI increased its stake in Sony Group by 377.2% during the 4th quarter. Fiduciary Management Inc. WI now owns 10,320,498 shares of the company’s stock valued at $218,382,000 after purchasing an additional 8,157,776 shares in the last quarter. Institutional investors own 14.05% of the company’s stock.

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.