Clark Estates Inc. NY Takes Position in Sony Group Co. (NYSE:SONY)

Clark Estates Inc. NY acquired a new position in shares of Sony Group Co. (NYSE:SONY - Free Report) in the third quarter, according to its most recent 13F filing with the Securities & Exchange Commission. The institutional investor acquired 75,000 shares of the company's stock, valued at approximately $7,243,000. Sony Group accounts for 1.3% of Clark Estates Inc. NY's portfolio, making the stock its 14th largest position.

Several other hedge funds and other institutional investors have also added to or reduced their stakes in SONY. Mediolanum International Funds Ltd acquired a new position in shares of Sony Group during the 3rd quarter worth about $109,462,000. Fisher Asset Management LLC increased its stake in Sony Group by 12.7% during the 3rd quarter. Fisher Asset Management LLC now owns 8,636,355 shares of the company's stock worth $834,013,000 after buying an additional 972,075 shares in the last quarter. Marshall Wace LLP raised its holdings in shares of Sony Group by 8,495.0% during the second quarter. Marshall Wace LLP now owns 848,414 shares of the company's stock valued at $72,073,000 after acquiring an additional 838,543 shares during the last quarter. Manning & Napier Advisors LLC purchased a new position in shares of Sony Group in the second quarter valued at approximately $18,567,000. Finally, Alight Capital Management LP purchased a new position in shares of Sony Group in the second quarter valued at approximately $12,742,000. 14.05% of the stock is owned by hedge funds and other institutional investors.

Sony Group Trading Up 2.0 %

NYSE:SONY traded up $0.39 during trading hours on Wednesday, hitting $19.76. The company had a trading volume of 2,484,232 shares, compared to its average volume of 3,843,595. Sony Group Co. has a 1 year low of $15.02 and a 1 year high of $20.67. The company has a market cap of $119.50 billion, a P/E ratio of 16.17, a P/E/G ratio of 12.30 and a beta of 0.95. The company has a 50-day moving average of $16.22 and a 200 day moving average of $7.98. The company has a current ratio of 0.66, a quick ratio of 0.49 and a debt-to-equity ratio of 0.25.

Wall Street Analyst Weigh In

Several research firms recently commented on SONY. Oppenheimer reduced their price objective on Sony Group from $108.00 to $25.00 and set an "outperform" rating for the company in a research note on Tuesday, November 12th. Daiwa America raised shares of Sony Group to a "strong-buy" rating in a report on Wednesday, September 18th. StockNews.com downgraded shares of Sony Group from a "strong-buy" rating to a "buy" rating in a research note on Tuesday, November 19th. Finally, TD Cowen dropped 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 note on Friday, October 11th. One equities research analyst has rated the stock with a hold rating, four have assigned a buy rating and one has assigned a strong buy rating to the company's stock. Based on data from MarketBeat.com, the stock has an average rating of "Buy" and a consensus price target of $24.00.

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.