Mediolanum International Funds Ltd Invests $109.46 Million in Sony Group Co. (NYSE:SONY)

Mediolanum International Funds Ltd bought a new stake in shares of Sony Group Co. (NYSE:SONY) in the third quarter, according to its most recent 13F filing with the Securities & Exchange Commission. The fund bought 1,133,500 shares of the company’s stock, valued at approximately $109,462,000. Sony Group accounts for about 1.4% of Mediolanum International Funds Ltd’s investment portfolio, making the stock its 12th largest position. Mediolanum International Funds Ltd owned about 0.09% of Sony Group as of its most recent filing with the Securities & Exchange Commission.

A number of other institutional investors and hedge funds also recently added to or reduced their stakes in SONY. Marshall Wace LLP lifted its position in Sony Group by 8,495.0% during the second quarter. Marshall Wace LLP now owns 848,414 shares of the company’s stock valued at $72,073,000 after purchasing an additional 838,543 shares during the period. Mondrian Investment Partners LTD increased its holdings in Sony Group by 43.4% in the first quarter. Mondrian Investment Partners LTD now owns 2,558,527 shares of the company’s stock valued at $220,033,000 after buying an additional 774,502 shares in the last quarter. Manning & Napier Advisors LLC purchased a new position in Sony Group in the second quarter valued at $18,567,000. Pictet North America Advisors SA purchased a new position in Sony Group in the first quarter valued at $18,702,000. Finally, Alight Capital Management LP purchased a new position in Sony Group in the second quarter valued at $12,742,000. 14.05% of the stock is currently owned by institutional investors and hedge funds.

Wall Street Analysts Forecast Growth

SONY has been the subject of a number of recent analyst reports. StockNews.com cut shares of Sony Group from a “buy” rating to a “hold” rating in a report on Thursday, October 17th. TD Cowen cut their price objective on shares of Sony Group from $107.00 to $23.00 and set a “buy” rating for the company in a report on Friday, October 11th. Finally, Daiwa America raised shares of Sony Group to a “strong-buy” rating in a report on Wednesday, September 18th. Two analysts have rated the stock with a hold rating, three have issued a buy rating and one has assigned a strong buy rating to the company’s stock. According to data from MarketBeat, Sony Group presently has a consensus rating of “Moderate Buy” and an average target price of $13.66.

Sony Group Price Performance

Shares of SONY stock traded down $0.03 on Friday, reaching $17.66. 764,370 shares of the company were exchanged, compared to its average volume of 3,916,024. The company has a market cap of $106.80 billion, a price-to-earnings ratio of 16.45 and a beta of 0.94. The business has a 50-day moving average price of $9.42 and a 200 day moving average price of $5.48. The company has a debt-to-equity ratio of 0.26, a quick ratio of 0.47 and a current ratio of 0.63. Sony Group Co. has a 1 year low of $15.02 and a 1 year high of $20.18.

Sony Group (NYSE:SONY) last released its earnings results on Wednesday, August 7th. The company reported $0.05 EPS for the quarter, topping analysts’ consensus estimates of $0.04 by $0.01. Sony Group had a net margin of 7.59% and a return on equity of 12.82%. The business had revenue of $19.32 billion during the quarter, compared to analysts’ expectations of $17.42 billion. Equities research analysts forecast that Sony Group Co. will post 0.6 earnings per share for the current fiscal year.

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.