Avestar Capital LLC Decreases Holdings in Sony Group Co. (NYSE:SONY)

Avestar Capital LLC cut its stake in shares of Sony Group Co. (NYSE:SONY) by 17.9% in the fourth quarter, according to the company in its most recent filing with the Securities and Exchange Commission. The fund owned 2,126 shares of the company’s stock after selling 465 shares during the period. Avestar Capital LLC’s holdings in Sony Group were worth $201,000 as of its most recent SEC filing.

A number of other hedge funds have also added to or reduced their stakes in the stock. CVA Family Office LLC purchased a new stake in shares of Sony Group in the 4th quarter worth $27,000. Fortitude Family Office LLC purchased a new stake in shares of Sony Group in the 4th quarter worth $31,000. Pacific Capital Wealth Advisors Inc. purchased a new stake in shares of Sony Group in the 4th quarter worth $34,000. Pinnacle Bancorp Inc. purchased a new stake in shares of Sony Group in the 4th quarter worth $39,000. Finally, NBC Securities Inc. purchased a new stake in shares of Sony Group in the 3rd quarter worth $51,000. 14.05% of the stock is currently owned by hedge funds and other institutional investors.

Analyst Upgrades and Downgrades

Several research firms have recently commented on SONY. StockNews.com upgraded Sony Group from a “hold” rating to a “buy” rating in a research note on Wednesday, May 22nd. Macquarie downgraded shares of Sony Group from an “outperform” rating to a “neutral” rating in a report on Thursday, February 15th. Finally, Oppenheimer reaffirmed an “outperform” rating and issued a $108.00 target price on shares of Sony Group in a report on Monday, February 26th. One analyst has rated the stock with a hold rating and five have issued a buy rating to the company’s stock. According to MarketBeat.com, Sony Group has a consensus rating of “Moderate Buy” and a consensus price target of $108.00.

Sony Group Stock Up 1.9 %

SONY opened at $82.35 on Friday. The firm has a 50-day simple moving average of $82.64 and a two-hundred day simple moving average of $88.30. Sony Group Co. has a 52 week low of $75.11 and a 52 week high of $100.94. The company has a market capitalization of $101.64 billion, a PE ratio of 15.14 and a beta of 0.95. The company has a quick ratio of 0.52, a current ratio of 0.66 and a debt-to-equity ratio of 0.27.

Sony Group (NYSE:SONY) last released its quarterly earnings data on Tuesday, May 14th. The company reported $1.04 EPS for the quarter, beating the consensus estimate of $0.83 by $0.21. Sony Group had a net margin of 7.95% and a return on equity of 13.05%. The business had revenue of $23.45 billion during the quarter, compared to the consensus estimate of $18.97 billion. During the same quarter in the prior year, the firm earned $0.78 EPS. Analysts forecast that Sony Group Co. will post 5.61 earnings per share 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.