Traders Purchase Large Volume of Call Options on Sony Group (NYSE:SONY)

Sony Group Co. (NYSE:SONY - Get Free Report) was the recipient of some unusual options trading on Wednesday. Traders purchased 5,050 call options on the company. This is an increase of approximately 50% compared to the average daily volume of 3,377 call options.

Analysts Set New Price Targets

SONY has been the subject of several recent research reports. StockNews.com downgraded Sony Group from a "buy" rating to a "hold" rating in a report on Tuesday, February 25th. Sanford C. Bernstein initiated coverage on shares of Sony Group in a research note on Thursday, January 16th. They issued an "outperform" rating on the stock. Finally, Oppenheimer reaffirmed an "outperform" rating and issued a $33.00 price objective (up previously from $25.00) on shares of Sony Group in a report on Thursday, February 20th. One equities research analyst has rated the stock with a hold rating, three have given a buy rating and one has issued a strong buy rating to the company. According to data from MarketBeat, the company currently has an average rating of "Buy" and a consensus price target of $28.00.

Hedge Funds Weigh In On Sony Group

Institutional investors and hedge funds have recently added to or reduced their stakes in the company. B. Riley Wealth Advisors Inc. lifted its holdings in shares of Sony Group by 693.0% in the fourth quarter. B. Riley Wealth Advisors Inc. now owns 55,186 shares of the company's stock valued at $1,168,000 after buying an additional 48,227 shares during the period. Integrated Advisors Network LLC lifted its holdings in Sony Group by 364.1% in the 4th quarter. Integrated Advisors Network LLC now owns 22,432 shares of the company's stock valued at $475,000 after acquiring an additional 17,599 shares during the last quarter. Challenger Wealth Management bought a new position in shares of Sony Group during the 4th quarter valued at about $286,000. Mackenzie Financial Corp acquired a new position in shares of Sony Group in the 4th quarter worth approximately $7,800,000. Finally, Forum Financial Management LP raised its holdings in shares of Sony Group by 536.0% in the 4th quarter. Forum Financial Management LP now owns 115,250 shares of the company's stock worth $2,439,000 after purchasing an additional 97,130 shares in the last quarter. 14.05% of the stock is owned by institutional investors.

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Sony Group Stock Performance

SONY stock traded down $0.29 during trading on Thursday, reaching $23.40. 2,425,834 shares of the company's stock were exchanged, compared to its average volume of 3,669,376. The firm has a market cap of $141.50 billion, a PE ratio of 18.99, a P/E/G ratio of 9.95 and a beta of 0.91. The company has a quick ratio of 0.49, a current ratio of 0.66 and a debt-to-equity ratio of 0.25. Sony Group has a 1-year low of $15.02 and a 1-year high of $25.64. The company's fifty day moving average price is $22.61 and its 200-day moving average price is $17.87.

Sony Group (NYSE:SONY - Get Free Report) last announced its earnings results on Thursday, February 13th. The company reported $0.41 earnings per share (EPS) for the quarter, beating analysts' consensus estimates of $0.27 by $0.14. The firm had revenue of $28.95 billion during the quarter, compared to analyst estimates of $24.32 billion. Sony Group had a net margin of 8.21% and a return on equity of 14.10%. On average, research analysts expect that Sony Group will post 1.23 EPS for the current fiscal year.

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.