Miracle Mile Advisors LLC Takes $757,000 Position in Sony Group Co. (NYSE:SONY)

Miracle Mile Advisors LLC bought a new position in Sony Group Co. (NYSE:SONY - Free Report) in the fourth quarter, according to its most recent 13F filing with the Securities & Exchange Commission. The institutional investor bought 35,752 shares of the company's stock, valued at approximately $757,000.

Other institutional investors and hedge funds have also recently added to or reduced their stakes in the company. Wealth Alliance grew its stake in shares of Sony Group by 1.2% in the 2nd quarter. Wealth Alliance now owns 11,977 shares of the company's stock worth $1,017,000 after purchasing an additional 141 shares during the last quarter. Blair William & Co. IL boosted its holdings in Sony Group by 4.6% during the second quarter. Blair William & Co. IL now owns 4,803 shares of the company's stock worth $408,000 after buying an additional 212 shares in the last quarter. Hexagon Capital Partners LLC grew its position in Sony Group by 38.6% in the third quarter. Hexagon Capital Partners LLC now owns 836 shares of the company's stock worth $81,000 after buying an additional 233 shares during the last quarter. Wedmont Private Capital increased its holdings in shares of Sony Group by 12.9% in the third quarter. Wedmont Private Capital now owns 2,767 shares of the company's stock valued at $265,000 after buying an additional 316 shares in the last quarter. Finally, Private Advisor Group LLC lifted its position in shares of Sony Group by 8.1% during the 2nd quarter. Private Advisor Group LLC now owns 5,932 shares of the company's stock valued at $504,000 after acquiring an additional 446 shares during the last quarter. 14.05% of the stock is owned by institutional investors.

Sony Group Stock Performance

Shares of NYSE SONY traded down $0.15 during trading hours on Thursday, hitting $20.36. 4,472,462 shares of the stock were exchanged, compared to its average volume of 3,537,716. Sony Group Co. has a one year low of $15.02 and a one year high of $22.71. The company's 50 day moving average is $20.39 and its 200 day moving average is $12.39. The company has a debt-to-equity ratio of 0.25, a current ratio of 0.66 and a quick ratio of 0.49. The firm has a market capitalization of $123.10 billion, a P/E ratio of 16.66, a P/E/G ratio of 12.41 and a beta of 0.95.

Analyst Upgrades and Downgrades

SONY has been the topic of a number of recent research reports. StockNews.com cut Sony Group from a "strong-buy" rating to a "buy" rating in a report on Tuesday, November 19th. Oppenheimer decreased their target price on shares of Sony Group from $108.00 to $25.00 and set an "outperform" rating for the company in a report on Tuesday, November 12th. TD Cowen cut their price target on shares of Sony Group from $107.00 to $23.00 and set a "buy" rating on the stock in a report on Friday, October 11th. Sanford C. Bernstein began coverage on shares of Sony Group in a research report on Thursday. They issued an "outperform" rating for the company. Finally, Daiwa America raised Sony Group to a "strong-buy" rating in a research note on Wednesday, September 18th. One equities research analyst has rated the stock with a hold rating, four have issued a buy rating and one has issued a strong buy rating to the stock. According to MarketBeat, the stock has an average rating of "Buy" and an average target price 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.