Ovata Capital Management Ltd Has $949,000 Stake in Sony Group Co. (NYSE:SONY)

Ovata Capital Management Ltd increased its position in shares of Sony Group Co. (NYSE:SONY - Free Report) by 288.4% during the fourth quarter, according to its most recent Form 13F filing with the Securities and Exchange Commission (SEC). The firm owned 44,165 shares of the company's stock after acquiring an additional 32,795 shares during the quarter. Sony Group accounts for about 0.4% of Ovata Capital Management Ltd's holdings, making the stock its 26th largest position. Ovata Capital Management Ltd's holdings in Sony Group were worth $949,000 at the end of the most recent reporting period.

A number of other hedge funds and other institutional investors have also recently added to or reduced their stakes in the company. Primecap Management Co. CA grew its position in Sony Group by 379.5% in the fourth quarter. Primecap Management Co. CA now owns 101,995,855 shares of the company's stock worth $2,158,232,000 after acquiring an additional 80,724,932 shares in the last quarter. Fisher Asset Management LLC grew its stake in Sony Group by 425.9% in the 4th quarter. Fisher Asset Management LLC now owns 45,420,092 shares of the company's stock valued at $961,089,000 after buying an additional 36,783,737 shares during the last quarter. Mondrian Investment Partners LTD raised its holdings in Sony Group by 358.2% in the 4th quarter. Mondrian Investment Partners LTD now owns 10,138,119 shares of the company's stock worth $223,039,000 after acquiring an additional 7,925,643 shares during the period. Clearbridge Investments LLC lifted its position in Sony Group by 383.5% during the 4th quarter. Clearbridge Investments LLC now owns 5,929,924 shares of the company's stock worth $125,477,000 after acquiring an additional 4,703,571 shares during the last quarter. Finally, Sei Investments Co. grew its position in shares of Sony Group by 362.7% in the fourth quarter. Sei Investments Co. now owns 3,245,587 shares of the company's stock valued at $68,677,000 after purchasing an additional 2,544,193 shares during the last quarter. Institutional investors and hedge funds own 14.05% of the company's stock.

Sony Group Stock Performance

Sony Group stock traded down $0.31 during trading hours on Thursday, hitting $22.66. The company had a trading volume of 4,216,724 shares, compared to its average volume of 4,118,007. Sony Group Co. has a one year low of $15.02 and a one year high of $25.78. The firm has a market cap of $137.05 billion, a PE ratio of 18.30, a PEG ratio of 9.95 and a beta of 0.94. The firm has a 50-day moving average of $23.91 and a 200 day moving average of $20.84. The company has a debt-to-equity ratio of 0.25, a current ratio of 0.66 and a quick ratio of 0.49.

Sony Group (NYSE:SONY - Get Free Report) last issued its quarterly earnings results on Thursday, February 13th. The company reported $0.41 earnings per share (EPS) for the quarter, topping analysts' consensus estimates of $0.27 by $0.14. Sony Group had a return on equity of 14.10% and a net margin of 8.21%. The business 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 1.23 earnings per share for the current year.

Analyst Ratings Changes

Several equities research analysts have recently issued reports on the stock. StockNews.com downgraded shares of Sony Group from a "buy" rating to a "hold" rating in a research note on Tuesday, February 25th. Wolfe Research restated a "peer perform" rating on shares of Sony Group in a report on Monday. The Goldman Sachs Group initiated coverage on shares of Sony Group in a research note on Tuesday, March 25th. They issued a "buy" rating for the company. Oppenheimer reaffirmed an "outperform" rating and issued a $33.00 target price (up previously from $25.00) on shares of Sony Group in a report on Thursday, February 20th. Finally, Sanford C. Bernstein assumed coverage on Sony Group in a research report on Thursday, January 16th. They issued an "outperform" rating for the company. Two investment analysts have rated the stock with a hold rating, four have issued a buy rating and one has assigned a strong buy rating to the stock. According to data from MarketBeat, Sony Group currently has a consensus rating of "Moderate Buy" and an average price target of $28.00.

Sony Group 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.