Sony Group (NYSE:SONY) Rating Lowered to “Hold” at StockNews.com

Sony Group (NYSE:SONY) was downgraded by stock analysts at StockNews.com from a “buy” rating to a “hold” rating in a report released on Tuesday.

SONY has been the topic of several other research reports. Sanford C. Bernstein assumed coverage on Sony Group in a research note on Thursday, January 16th. They set an “outperform” rating on the stock. Oppenheimer reiterated an “outperform” rating and set a $33.00 price target (up from $25.00) on shares of Sony Group in a research note on Thursday, February 20th. One investment analyst has rated the stock with a hold rating, three have assigned a buy rating and one has issued a strong buy rating to the company’s stock. Based on data from MarketBeat, the stock currently has an average rating of “Buy” and a consensus target price of $28.00.

Sony Group Trading Up 1.1 %

NYSE SONY traded up $0.28 during trading hours on Tuesday, reaching $25.08. The company had a trading volume of 5,783,016 shares, compared to its average volume of 3,967,213. The company has a current ratio of 0.66, a quick ratio of 0.49 and a debt-to-equity ratio of 0.25. The stock has a market capitalization of $151.65 billion, a P/E ratio of 20.35, a price-to-earnings-growth ratio of 9.95 and a beta of 0.96. The stock has a 50-day moving average of $21.88 and a 200 day moving average of $16.34. Sony Group has a 1-year low of $15.02 and a 1-year high of $25.29.

Sony Group (NYSE:SONY) last posted its quarterly earnings data 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 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 analysts’ expectations of $24.32 billion. As a group, research analysts anticipate that Sony Group will post 1.23 earnings per share for the current fiscal year.

Institutional Inflows and Outflows

A number of hedge funds and other institutional investors have recently bought and sold shares of the stock. B. Riley Wealth Advisors Inc. raised its position in Sony Group by 693.0% in the 4th quarter. B. Riley Wealth Advisors Inc. now owns 55,186 shares of the company’s stock valued at $1,168,000 after purchasing an additional 48,227 shares in the last quarter. Integrated Advisors Network LLC lifted its holdings in Sony Group by 364.1% during the 4th quarter. Integrated Advisors Network LLC now owns 22,432 shares of the company’s stock worth $475,000 after buying an additional 17,599 shares during the last quarter. Challenger Wealth Management acquired a new position in Sony Group in the fourth quarter valued at approximately $286,000. Mackenzie Financial Corp acquired a new stake in Sony Group during the 4th quarter worth $7,800,000. Finally, Forum Financial Management LP lifted its position in Sony Group by 536.0% in the fourth quarter. Forum Financial Management LP now owns 115,250 shares of the company’s stock valued at $2,439,000 after acquiring an additional 97,130 shares during the last quarter. 14.05% of the stock is currently owned by hedge funds and other institutional investors.

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.