Parallel Advisors LLC Grows Position in Sony Group Co. (NYSE:SONY)

Parallel Advisors LLC lifted its holdings in shares of Sony Group Co. (NYSE:SONY) by 453.5% in the fourth quarter, according to the company in its most recent filing with the Securities and Exchange Commission. The firm owned 39,903 shares of the company’s stock after purchasing an additional 32,694 shares during the quarter. Parallel Advisors LLC’s holdings in Sony Group were worth $844,000 as of its most recent filing with the Securities and Exchange Commission.

A number of other hedge funds have also modified their holdings of SONY. Fisher Asset Management LLC grew its holdings in shares of Sony Group by 425.9% during the 4th quarter. Fisher Asset Management LLC now owns 45,420,092 shares of the company’s stock worth $961,089,000 after purchasing an additional 36,783,737 shares during the period. Mondrian Investment Partners LTD grew its holdings in shares of Sony Group by 358.2% during the 4th quarter. Mondrian Investment Partners LTD now owns 10,138,119 shares of the company’s stock worth $223,039,000 after purchasing an additional 7,925,643 shares during the period. Natixis Advisors LLC grew its holdings in shares of Sony Group by 525.1% during the 4th quarter. Natixis Advisors LLC now owns 2,206,912 shares of the company’s stock worth $46,698,000 after purchasing an additional 1,853,871 shares during the period. Raymond James Financial Inc. purchased a new position in shares of Sony Group during the 4th quarter worth $36,964,000. Finally, Cardinal Capital Management Inc. grew its holdings in shares of Sony Group by 403.7% during the 4th quarter. Cardinal Capital Management Inc. now owns 1,606,160 shares of the company’s stock worth $33,986,000 after purchasing an additional 1,287,259 shares during the period. 14.05% of the stock is currently owned by hedge funds and other institutional investors.

Sony Group Stock Performance

Shares of Sony Group stock opened at $24.96 on Thursday. The business has a 50-day moving average of $22.90 and a 200 day moving average of $18.55. Sony Group Co. has a 12 month low of $15.02 and a 12 month high of $25.64. The stock has a market capitalization of $150.92 billion, a price-to-earnings ratio of 20.26, a price-to-earnings-growth ratio of 9.95 and a beta of 0.91. 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) last posted its quarterly 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 company had revenue of $28.95 billion for the quarter, compared to analyst estimates of $24.32 billion. Sony Group had a return on equity of 14.10% and a net margin of 8.21%. As a group, sell-side analysts forecast that Sony Group Co. will post 1.23 earnings per share for the current year.

Analyst Ratings Changes

A number of research firms have recently weighed in on SONY. Oppenheimer reiterated an “outperform” rating and set a $33.00 price target (up from $25.00) on shares of Sony Group in a report on Thursday, February 20th. Sanford C. Bernstein started coverage on Sony Group in a report on Thursday, January 16th. They set an “outperform” rating for the company. Finally, StockNews.com cut Sony Group from a “buy” rating to a “hold” rating in a report on Tuesday, February 25th. One research analyst has rated the stock with a hold rating, three have issued a buy rating and one has issued a strong buy rating to the stock. According to MarketBeat.com, Sony Group currently has an average rating of “Buy” and an average target price 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.