ABC Arbitrage SA Acquires Shares of 52,657 Sony Group Co. (NYSE:SONY)

ABC Arbitrage SA purchased a new position in shares of Sony Group Co. (NYSE:SONY - Free Report) in the 4th quarter, according to the company in its most recent 13F filing with the SEC. The firm purchased 52,657 shares of the company's stock, valued at approximately $1,114,000.

Other hedge funds also recently modified their holdings of the company. Silicon Valley Capital Partners raised its holdings in Sony Group by 401.3% during the 4th quarter. Silicon Valley Capital Partners now owns 1,158 shares of the company's stock valued at $25,000 after acquiring an additional 927 shares during the period. General Partner Inc. lifted its holdings in Sony Group by 400.0% during the 4th quarter. General Partner Inc. now owns 1,245 shares of the company's stock worth $26,000 after purchasing an additional 996 shares in the last quarter. Newbridge Financial Services Group Inc. bought a new position in Sony Group in the 4th quarter worth about $26,000. Hilltop National Bank raised its position in Sony Group by 346.3% during the fourth quarter. Hilltop National Bank now owns 1,513 shares of the company's stock valued at $32,000 after purchasing an additional 1,174 shares in the last quarter. Finally, Thurston Springer Miller Herd & Titak Inc. grew its stake in shares of Sony Group by 400.0% during the fourth quarter. Thurston Springer Miller Herd & Titak Inc. now owns 1,505 shares of the company's stock valued at $32,000 after buying an additional 1,204 shares during the last quarter. Institutional investors own 14.05% of the company's stock.

Analyst Ratings Changes

SONY has been the subject of several research analyst reports. Oppenheimer dropped their price objective on Sony Group from $108.00 to $25.00 and set an "outperform" rating for the company in a report on Tuesday, November 12th. StockNews.com lowered shares of Sony Group from a "strong-buy" rating to a "buy" rating in a research report on Tuesday, November 19th. Finally, Sanford C. Bernstein began coverage on Sony Group in a research report on Thursday, January 16th. They issued an "outperform" rating on the stock. Four equities research analysts have rated the stock with a buy rating and one has issued a strong buy rating to the company. Based on data from MarketBeat.com, Sony Group presently has a consensus rating of "Buy" and an average target price of $24.00.

Sony Group Trading Up 0.9 %

NYSE SONY traded up $0.22 during trading on Wednesday, hitting $24.74. The stock had a trading volume of 4,013,670 shares, compared to its average volume of 3,951,210. The stock has a market capitalization of $149.59 billion, a price-to-earnings ratio of 20.08, a P/E/G ratio of 9.75 and a beta of 0.96. The company has a debt-to-equity ratio of 0.25, a quick ratio of 0.49 and a current ratio of 0.66. Sony Group Co. has a one year low of $15.02 and a one year high of $24.88. The stock has a 50 day simple moving average of $21.58 and a 200 day simple moving average of $15.58.

Sony Group (NYSE:SONY - Get Free Report) last released its quarterly earnings results on Thursday, February 13th. The company reported $0.41 earnings per share for the quarter, beating 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 business had revenue of $28.95 billion for the quarter, compared to analysts' expectations of $24.32 billion. Sell-side analysts predict that Sony Group Co. will post 1.22 earnings per share for the current year.

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.