Naviter Wealth LLC Buys 1,951 Shares of Sony Group Co. (NYSE:SONY)

Naviter Wealth LLC grew its position in shares of Sony Group Co. (NYSE:SONY) by 6.7% during the 3rd quarter, according to its most recent Form 13F filing with the Securities and Exchange Commission. The fund owned 31,130 shares of the company’s stock after buying an additional 1,951 shares during the quarter. Naviter Wealth LLC’s holdings in Sony Group were worth $3,006,000 as of its most recent filing with the Securities and Exchange Commission.

Other hedge funds and other institutional investors have also recently bought and sold shares of the company. Virtu Financial LLC acquired a new stake in Sony Group in the 4th quarter valued at about $361,000. Integrated Advisors Network LLC raised its position in Sony Group by 6.1% in the 4th quarter. Integrated Advisors Network LLC now owns 3,394 shares of the company’s stock worth $321,000 after purchasing an additional 194 shares during the last quarter. HighPoint Advisor Group LLC acquired a new position in Sony Group during the 4th quarter worth $247,000. GAMMA Investing LLC boosted its position in Sony Group by 7.2% in the 1st quarter. GAMMA Investing LLC now owns 4,604 shares of the company’s stock valued at $395,000 after buying an additional 309 shares during the last quarter. Finally, Mather Group LLC. acquired a new stake in shares of Sony Group in the 1st quarter valued at $100,000. 14.05% of the stock is owned by institutional investors and hedge funds.

Sony Group Stock Down 1.1 %

SONY traded down $0.20 on Thursday, hitting $18.48. 40,605 shares of the company were exchanged, compared to its average volume of 3,957,251. The company has a debt-to-equity ratio of 0.26, a quick ratio of 0.47 and a current ratio of 0.63. The stock’s fifty day moving average is $29.33 and its 200-day moving average is $21.25. The company has a market cap of $22.81 billion, a PE ratio of 3.43 and a beta of 0.94. Sony Group Co. has a 12 month low of $15.02 and a 12 month high of $20.18.

Sony Group (NYSE:SONY) last released its earnings results on Wednesday, August 7th. The company reported $0.24 earnings per share for the quarter, beating the consensus estimate of $0.22 by $0.02. The business had revenue of $19.32 billion during the quarter, compared to analysts’ expectations of $17.42 billion. Sony Group had a net margin of 7.59% and a return on equity of 12.82%. Equities research analysts predict that Sony Group Co. will post 0.61 EPS for the current fiscal year.

Wall Street Analysts Forecast Growth

Several equities analysts have recently issued reports on the company. TD Cowen cut their price target on Sony Group from $107.00 to $23.00 and set a “buy” rating on the stock in a research note on Friday, October 11th. Daiwa America raised shares of Sony Group to a “strong-buy” rating in a research note on Wednesday, September 18th. Finally, StockNews.com downgraded shares of Sony Group from a “buy” rating to a “hold” rating in a research note on Thursday. Two analysts have rated the stock with a hold rating, three have issued a buy rating and one has issued a strong buy rating to the stock. Based on data from MarketBeat.com, the company has a consensus rating of “Moderate Buy” and a consensus price target of $22.30.

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.