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

ABC Arbitrage SA bought a new stake in Sony Group Co. (NYSE:SONY) during the 4th quarter, according to the company in its most recent disclosure with the Securities and Exchange Commission. The firm bought 52,657 shares of the company’s stock, valued at approximately $1,114,000.

Several other hedge funds also recently modified their holdings of the business. Y.D. More Investments Ltd raised its position in shares of 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. Pictet North America Advisors SA raised its position in shares of Sony Group by 19.4% in the 3rd quarter. Pictet North America Advisors SA now owns 243,975 shares of the company’s stock valued at $23,561,000 after acquiring an additional 39,688 shares during the period. Fifth Third Bancorp raised its position in shares of Sony Group by 311.3% in the 4th quarter. Fifth Third Bancorp now owns 157,702 shares of the company’s stock valued at $3,337,000 after acquiring an additional 119,362 shares during the period. Mitchell & Pahl Private Wealth LLC raised its position in shares of Sony Group by 430.0% in the 4th quarter. Mitchell & Pahl Private Wealth LLC now owns 40,336 shares of the company’s stock valued at $854,000 after acquiring an additional 32,725 shares during the period. Finally, One Wealth Advisors LLC raised its position in shares of Sony Group by 400.9% in the 4th quarter. One Wealth Advisors LLC now owns 34,475 shares of the company’s stock valued at $729,000 after acquiring an additional 27,593 shares during the period. Institutional investors own 14.05% of the company’s stock.

Wall Street Analyst Weigh In

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

Sony Group Stock Performance

Shares of SONY stock opened at $24.16 on Friday. 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 price-to-earnings-growth ratio of 11.46 and a beta of 0.96. The company’s 50 day moving average price is $21.46 and its two-hundred day moving average price is $15.20. Sony Group Co. has a 52 week low of $15.02 and a 52 week high of $24.25.

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