Lake Street Advisors Group LLC Sells 3,067 Shares of Sony Group Co. (NYSE:SONY)

Lake Street Advisors Group LLC decreased its stake in shares of Sony Group Co. (NYSE:SONY) by 27.3% during the third quarter, according to its most recent filing with the Securities and Exchange Commission. The institutional investor owned 8,185 shares of the company’s stock after selling 3,067 shares during the period. Lake Street Advisors Group LLC’s holdings in Sony Group were worth $790,000 as of its most recent SEC filing.

Other large investors have also recently modified their holdings of the company. Thurston Springer Miller Herd & Titak Inc. bought a new stake in shares of Sony Group during the 2nd quarter valued at about $26,000. Sunbelt Securities Inc. purchased a new position in Sony Group during the 1st quarter valued at about $29,000. Ridgewood Investments LLC purchased a new position in Sony Group during the 2nd quarter valued at about $41,000. Family Firm Inc. purchased a new position in Sony Group during the 2nd quarter valued at about $44,000. Finally, Hobbs Group Advisors LLC purchased a new position in Sony Group during the 2nd quarter valued at about $49,000. Institutional investors own 14.05% of the company’s stock.

Sony Group Stock Down 0.4 %

Shares of Sony Group stock opened at $17.62 on Friday. 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 has a market capitalization of $106.53 billion, a PE ratio of 16.37 and a beta of 0.94. Sony Group Co. has a 52-week low of $15.02 and a 52-week high of $20.18. The company has a 50-day simple moving average of $9.70 and a two-hundred day simple moving average of $5.58.

Sony Group (NYSE:SONY) last issued its earnings results on Wednesday, August 7th. The company reported $0.05 earnings per share (EPS) for the quarter, topping the consensus estimate of $0.04 by $0.01. 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%. On average, analysts anticipate that Sony Group Co. will post 0.6 EPS for the current fiscal year.

Analysts Set New Price Targets

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

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.