Highland Capital Management LLC Reduces Holdings in Sony Group Co. (NYSE:SONY)

Highland Capital Management LLC lessened its stake in Sony Group Co. (NYSE:SONY - Free Report) by 6.2% during the 2nd quarter, according to its most recent disclosure with the SEC. The institutional investor owned 44,631 shares of the company's stock after selling 2,950 shares during the quarter. Highland Capital Management LLC's holdings in Sony Group were worth $3,791,000 at the end of the most recent reporting period.

Several other hedge funds have also recently modified their holdings of SONY. Allspring Global Investments Holdings LLC lifted its holdings in shares of Sony Group by 40.8% in the fourth quarter. Allspring Global Investments Holdings LLC now owns 2,105 shares of the company's stock worth $199,000 after buying an additional 610 shares in the last quarter. Handelsbanken Fonder AB increased its position in Sony Group by 5.0% in the fourth quarter. Handelsbanken Fonder AB now owns 21,200 shares of the company's stock worth $2,007,000 after purchasing an additional 1,000 shares during the last quarter. Capital Investment Advisory Services LLC bought a new stake in Sony Group in the fourth quarter worth $234,000. New York State Common Retirement Fund increased its position in Sony Group by 0.4% in the fourth quarter. New York State Common Retirement Fund now owns 114,178 shares of the company's stock worth $10,812,000 after purchasing an additional 446 shares during the last quarter. Finally, Yousif Capital Management LLC increased its position in Sony Group by 6.9% in the fourth quarter. Yousif Capital Management LLC now owns 22,242 shares of the company's stock worth $2,106,000 after purchasing an additional 1,430 shares during the last quarter. Hedge funds and other institutional investors own 14.05% of the company's stock.

Sony Group Trading Up 1.2 %

SONY stock traded up $1.10 during mid-day trading on Friday, reaching $92.39. 444,520 shares of the stock traded hands, compared to its average volume of 845,608. The company has a debt-to-equity ratio of 0.26, a quick ratio of 0.47 and a current ratio of 0.63. Sony Group Co. has a one year low of $75.11 and a one year high of $100.88. The stock has a market capitalization of $114.03 billion, a PE ratio of 16.98 and a beta of 0.94. The business has a 50-day moving average price of $87.57 and a two-hundred day moving average price of $86.01.

Sony Group's stock is set to split on Monday, September 30th. The 5-1 split was announced on Tuesday, May 14th. The newly created shares will be issued to shareholders after the market closes on Monday, September 30th.

Sony Group (NYSE:SONY - Get Free Report) last posted its quarterly earnings results on Wednesday, August 7th. The company reported $1.22 EPS for the quarter, topping analysts' consensus estimates of $1.11 by $0.11. The firm had revenue of $19.32 billion for the quarter, compared to analysts' expectations of $17.42 billion. Sony Group had a net margin of 7.59% and a return on equity of 12.82%. Equities research analysts expect that Sony Group Co. will post 5.68 EPS for the current year.

Analyst Ratings Changes

Separately, StockNews.com cut shares of Sony Group from a "buy" rating to a "hold" rating in a research report on Wednesday. Two equities research analysts have rated the stock with a hold rating and three have issued a buy rating to the stock. Based on data from MarketBeat.com, Sony Group presently has an average rating of "Moderate Buy" and a consensus target price of $108.00.

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.