Adero Partners LLC Acquires New Holdings in Sony Group Co. (NYSE:SONY)

Adero Partners LLC purchased a new stake in Sony Group Co. (NYSE:SONY) in the 4th quarter, HoldingsChannel.com reports. The institutional investor purchased 10,373 shares of the company’s stock, valued at approximately $219,000.

Several other institutional investors and hedge funds have also recently added to or reduced their stakes in the business. Bleakley Financial Group LLC increased its position in Sony Group by 447.7% in the 4th quarter. Bleakley Financial Group LLC now owns 17,821 shares of the company’s stock valued at $377,000 after acquiring an additional 14,567 shares during the period. Choreo LLC increased its position in Sony Group by 370.9% in the 4th quarter. Choreo LLC now owns 133,990 shares of the company’s stock valued at $2,842,000 after acquiring an additional 105,537 shares during the period. Y.D. More Investments Ltd increased its position in Sony Group by 400.0% in the 4th quarter. Y.D. More Investments Ltd now owns 36,065 shares of the company’s stock valued at $763,000 after acquiring an additional 28,852 shares during the period. Stratos Wealth Advisors LLC increased its position in shares of Sony Group by 410.0% during the fourth quarter. Stratos Wealth Advisors LLC now owns 11,613 shares of the company’s stock worth $246,000 after buying an additional 9,336 shares during the period. Finally, Stratos Wealth Partners LTD. increased its position in shares of Sony Group by 397.6% during the fourth quarter. Stratos Wealth Partners LTD. now owns 16,301 shares of the company’s stock worth $345,000 after buying an additional 13,025 shares during the period. 14.05% of the stock is currently owned by institutional investors and hedge funds.

Wall Street Analysts Forecast Growth

SONY has been the subject of several recent analyst reports. StockNews.com cut shares of Sony Group from a “strong-buy” rating to a “buy” rating in a research report on Tuesday, November 19th. Sanford C. Bernstein initiated coverage on shares of Sony Group in a research report on Thursday, January 16th. They set an “outperform” rating for the company. Oppenheimer decreased 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. Finally, TD Cowen decreased their price objective 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. One research analyst has rated the stock with a hold rating, four have assigned a buy rating and one has given a strong buy rating to the stock. According to MarketBeat, the stock presently has a consensus rating of “Buy” and a consensus price target of $24.00.

Sony Group Stock Up 0.4 %

Sony Group stock opened at $23.02 on Friday. Sony Group Co. has a 1-year low of $15.02 and a 1-year high of $23.05. The firm has a market capitalization of $139.19 billion, a price-to-earnings ratio of 18.83, a price-to-earnings-growth ratio of 10.96 and a beta of 0.96. The firm’s fifty day moving average price is $21.20 and its two-hundred day moving average price is $14.32. The company has a current ratio of 0.66, a quick ratio of 0.49 and a debt-to-equity ratio of 0.25.

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.