Ovata Capital Management Ltd Buys 32,795 Shares of Sony Group Co. (NYSE:SONY)

Ovata Capital Management Ltd lifted its position in Sony Group Co. (NYSE:SONY) by 288.4% during the 4th quarter, according to its most recent disclosure with the Securities and Exchange Commission. The fund owned 44,165 shares of the company’s stock after purchasing an additional 32,795 shares during the quarter. Sony Group comprises about 0.4% of Ovata Capital Management Ltd’s investment portfolio, making the stock its 26th biggest 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 also recently made changes to their positions in the company. Silicon Valley Capital Partners raised its holdings in shares of Sony Group by 401.3% during the 4th quarter. Silicon Valley Capital Partners now owns 1,158 shares of the company’s stock worth $25,000 after acquiring an additional 927 shares in the last quarter. Newbridge Financial Services Group Inc. purchased a new stake in Sony Group during the fourth quarter valued at $26,000. Fairscale Capital LLC lifted its position in Sony Group by 400.0% during the fourth quarter. Fairscale Capital LLC now owns 1,240 shares of the company’s stock valued at $26,000 after purchasing an additional 992 shares during the last quarter. General Partner Inc. grew its stake in shares of Sony Group by 400.0% in the 4th quarter. General Partner Inc. now owns 1,245 shares of the company’s stock worth $26,000 after buying an additional 996 shares in the last quarter. Finally, Accent Capital Management LLC increased its holdings in shares of Sony Group by 400.0% in the 4th quarter. Accent Capital Management LLC now owns 1,380 shares of the company’s stock worth $29,000 after buying an additional 1,104 shares during the last quarter. 14.05% of the stock is currently owned by hedge funds and other institutional investors.

Sony Group Price Performance

Shares of SONY stock opened at $21.81 on Friday. The stock has a 50 day moving average price of $23.90 and a 200 day moving average price of $20.20. The firm has a market capitalization of $131.90 billion, a P/E ratio of 17.70, a P/E/G ratio of 9.95 and a beta of 0.94. The company has a debt-to-equity ratio of 0.25, a quick ratio of 0.49 and a current ratio of 0.66. Sony Group Co. has a 52-week low of $15.02 and a 52-week high of $25.78.

Sony Group (NYSE:SONY) last issued 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%. As a group, sell-side analysts predict that Sony Group Co. will post 1.23 earnings per share for the current year.

Analysts Set New Price Targets

A number of research analysts recently commented on the stock. Sanford C. Bernstein initiated coverage on shares of Sony Group in a report on Thursday, January 16th. They issued an “outperform” rating for the company. StockNews.com downgraded Sony Group from a “buy” rating to a “hold” rating in a research report on Tuesday, February 25th. Oppenheimer restated an “outperform” rating and issued a $33.00 price target (up from $25.00) on shares of Sony Group in a research report on Thursday, February 20th. Finally, The Goldman Sachs Group assumed coverage on shares of Sony Group in a research report on Tuesday, March 25th. They set a “buy” rating on the stock. One investment analyst has rated the stock with a hold rating, four have issued a buy rating and one has assigned a strong buy rating to the stock. Based on data from MarketBeat.com, the company currently has an average rating of “Buy” and an average target price of $28.00.

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.