SG Americas Securities LLC Has $1.17 Million Position in Sony Group Co. (NYSE:SONY)

SG Americas Securities LLC cut its stake in Sony Group Co. (NYSE:SONY - Free Report) by 30.0% in the second quarter, according to the company in its most recent filing with the Securities and Exchange Commission (SEC). The fund owned 13,800 shares of the company's stock after selling 5,927 shares during the quarter. SG Americas Securities LLC's holdings in Sony Group were worth $1,172,000 at the end of the most recent quarter.

A number of other hedge funds have also modified their holdings of SONY. Allspring Global Investments Holdings LLC lifted its holdings in Sony Group by 40.8% during the fourth quarter. Allspring Global Investments Holdings LLC now owns 2,105 shares of the company's stock worth $199,000 after acquiring an additional 610 shares in the last quarter. Sumitomo Mitsui Trust Holdings Inc. increased its stake in Sony Group by 12.6% during the 4th quarter. Sumitomo Mitsui Trust Holdings Inc. now owns 113,113 shares of the company's stock worth $10,711,000 after purchasing an additional 12,627 shares in the last quarter. Greenleaf Trust raised its holdings in Sony Group by 4.9% during the 4th quarter. Greenleaf Trust now owns 20,181 shares of the company's stock worth $1,911,000 after buying an additional 940 shares during the period. Calamos Wealth Management LLC lifted its stake in Sony Group by 2.7% in the fourth quarter. Calamos Wealth Management LLC now owns 17,429 shares of the company's stock valued at $1,650,000 after buying an additional 456 shares in the last quarter. Finally, Lindbrook Capital LLC boosted its position in shares of Sony Group by 13.8% during the fourth quarter. Lindbrook Capital LLC now owns 5,091 shares of the company's stock worth $482,000 after buying an additional 618 shares during the period. 14.05% of the stock is currently owned by institutional investors and hedge funds.

Sony Group Stock Up 2.0 %

Shares of Sony Group stock traded up $1.78 during trading hours on Friday, reaching $90.24. 589,831 shares of the company's stock were exchanged, compared to its average volume of 959,635. The stock has a market cap of $111.38 billion, a P/E ratio of 16.59 and a beta of 0.94. The company has a 50 day moving average of $86.81 and a two-hundred day moving average of $86.23. The company has a current ratio of 0.63, a quick ratio of 0.47 and a debt-to-equity ratio of 0.26. Sony Group Co. has a fifty-two week low of $75.11 and a fifty-two week high of $100.88.

Sony Group shares are going to split on the morning of Monday, September 30th. The 5-1 split was announced on Tuesday, May 14th. The newly issued shares will be distributed to shareholders after the closing bell on Monday, September 30th.

Sony Group (NYSE:SONY - Get Free Report) last released its quarterly earnings data on Wednesday, August 7th. The company reported $1.22 earnings per share (EPS) for the quarter, beating analysts' consensus estimates of $1.11 by $0.11. The company had revenue of $19.32 billion during the quarter, compared to analysts' expectations of $17.42 billion. Sony Group had a return on equity of 12.82% and a net margin of 7.59%. On average, sell-side analysts forecast that Sony Group Co. will post 5.68 EPS for the current fiscal year.

Analyst Ratings Changes

Separately, StockNews.com lowered Sony Group from a "buy" rating to a "hold" rating in a research report on Thursday, August 8th. Two investment analysts have rated the stock with a hold rating and three have assigned a buy rating to the stock. Based on data from MarketBeat, the company currently has an average rating of "Moderate Buy" and a consensus price target of $108.00.

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.