Figure 8 Investment Strategies LLC Buys Shares of 97,270 Sony Group Co. (NYSE:SONY)

Figure 8 Investment Strategies LLC bought a new position in shares of Sony Group Co. (NYSE:SONY - Free Report) during the 4th quarter, according to its most recent disclosure with the Securities and Exchange Commission (SEC). The firm bought 97,270 shares of the company's stock, valued at approximately $2,058,000. Sony Group accounts for approximately 2.0% of Figure 8 Investment Strategies LLC's portfolio, making the stock its 21st largest holding.

Several other hedge funds and other institutional investors have also recently bought and sold shares of the stock. Fisher Asset Management LLC grew its holdings in Sony Group by 12.7% in the third quarter. Fisher Asset Management LLC now owns 8,636,355 shares of the company's stock valued at $834,013,000 after purchasing an additional 972,075 shares during the period. Cardinal Capital Management Inc. grew its holdings in Sony Group by 403.7% in the fourth quarter. Cardinal Capital Management Inc. now owns 1,606,160 shares of the company's stock valued at $33,986,000 after purchasing an additional 1,287,259 shares during the period. Mediolanum International Funds Ltd acquired a new stake in Sony Group in the third quarter valued at approximately $109,462,000. Cambiar Investors LLC grew its holdings in Sony Group by 548.9% in the fourth quarter. Cambiar Investors LLC now owns 1,059,241 shares of the company's stock valued at $22,414,000 after purchasing an additional 896,013 shares during the period. Finally, Manning & Napier Advisors LLC grew its holdings in Sony Group by 356.8% in the fourth quarter. Manning & Napier Advisors LLC now owns 968,813 shares of the company's stock valued at $20,500,000 after purchasing an additional 756,705 shares during the period. 14.05% of the stock is owned by institutional investors and hedge funds.

Analyst Upgrades and Downgrades

SONY has been the topic of several research reports. StockNews.com downgraded 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 Sony Group in a research report on Thursday, January 16th. They issued an "outperform" rating on the stock. Finally, Oppenheimer decreased their target price on Sony Group from $108.00 to $25.00 and set an "outperform" rating on the stock in a research report on Tuesday, November 12th. Four investment analysts have rated the stock with a buy rating and one has given a strong buy rating to the company. According to MarketBeat, Sony Group presently has an average rating of "Buy" and an average target price of $24.00.

Sony Group Price Performance

Shares of NYSE SONY traded up $0.36 during midday trading on Tuesday, hitting $24.50. The stock had a trading volume of 7,069,426 shares, compared to its average volume of 3,949,100. Sony Group Co. has a 1 year low of $15.02 and a 1 year high of $24.88. The company has a market capitalization of $148.14 billion, a PE ratio of 20.05, a P/E/G ratio of 11.46 and a beta of 0.96. The company has a quick ratio of 0.49, a current ratio of 0.66 and a debt-to-equity ratio of 0.25. 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 announced its quarterly earnings data on Thursday, February 13th. The company reported $0.41 EPS for the quarter, topping analysts' consensus estimates of $0.27 by $0.14. Sony Group had a return on equity of 14.27% and a net margin of 8.55%. The firm had revenue of $28.95 billion for the quarter, compared to the consensus estimate of $24.32 billion. On average, sell-side analysts expect that Sony Group Co. will post 1.21 EPS 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.