Hardy Reed LLC Increases Stock Position in Sony Group Co. (NYSE:SONY)

Hardy Reed LLC raised its stake in shares of Sony Group Co. (NYSE:SONY - Free Report) by 400.0% in the 4th quarter, according to the company in its most recent filing with the Securities & Exchange Commission. The fund owned 18,215 shares of the company's stock after acquiring an additional 14,572 shares during the period. Hardy Reed LLC's holdings in Sony Group were worth $385,000 as of its most recent SEC filing.

A number of other hedge funds also recently added to or reduced their stakes in the stock. Handelsbanken Fonder AB increased its position in Sony Group by 315.5% during the 4th quarter. Handelsbanken Fonder AB now owns 620,000 shares of the company's stock worth $13,119,000 after purchasing an additional 470,800 shares during the period. Wealth Alliance boosted its stake in shares of Sony Group by 417.9% in the fourth quarter. Wealth Alliance now owns 64,076 shares of the company's stock valued at $1,356,000 after buying an additional 51,703 shares in the last quarter. Sunpointe LLC acquired a new position in Sony Group during the fourth quarter worth $201,000. Ieq Capital LLC raised its position in Sony Group by 411.6% in the fourth quarter. Ieq Capital LLC now owns 32,837 shares of the company's stock worth $695,000 after acquiring an additional 26,419 shares in the last quarter. Finally, Private Advisor Group LLC lifted its holdings in Sony Group by 299.1% in the fourth quarter. Private Advisor Group LLC now owns 24,566 shares of the company's stock valued at $520,000 after acquiring an additional 18,410 shares during the period. 14.05% of the stock is owned by institutional investors and hedge funds.

Analyst Ratings Changes

A number of analysts recently commented on the stock. Oppenheimer restated an "outperform" rating and set a $33.00 target price (up from $25.00) on shares of Sony Group in a research report on Thursday. Sanford C. Bernstein started coverage on Sony Group in a report on Thursday, January 16th. They issued an "outperform" rating on the stock. Finally, StockNews.com downgraded Sony Group from a "strong-buy" rating to a "buy" rating in a research note on Tuesday, November 19th. Four equities research analysts have rated the stock with a buy rating and one has assigned a strong buy rating to the stock. According to data from MarketBeat, the stock presently has a consensus rating of "Buy" and a consensus price target of $28.00.

Sony Group Price Performance

Shares of NYSE SONY traded down $0.12 during trading on Friday, reaching $24.81. The company had a trading volume of 5,048,137 shares, compared to its average volume of 3,950,445. 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 $150.01 billion, a PE ratio of 20.13, a price-to-earnings-growth ratio of 9.98 and a beta of 0.96. Sony Group Co. has a twelve month low of $15.02 and a twelve month high of $25.29. The stock has a 50-day moving average price of $21.74 and a two-hundred day moving average price of $15.86.

Sony Group (NYSE:SONY - Get Free Report) last announced its earnings results on Thursday, February 13th. The company reported $0.41 earnings per share for the quarter, beating the consensus estimate of $0.27 by $0.14. The firm had revenue of $28.95 billion during the quarter, compared to the consensus estimate of $24.32 billion. Sony Group had a net margin of 8.21% and a return on equity of 14.10%. As a group, sell-side analysts predict that Sony Group Co. will post 1.22 earnings per share for the current 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.