QRG Capital Management Inc. Acquires 357,475 Shares of Sony Group Co. (NYSE:SONY)

QRG Capital Management Inc. boosted its holdings in Sony Group Co. (NYSE:SONY) by 485.3% during the 4th quarter, according to its most recent disclosure with the Securities & Exchange Commission. The institutional investor owned 431,138 shares of the company’s stock after buying an additional 357,475 shares during the quarter. QRG Capital Management Inc.’s holdings in Sony Group were worth $9,123,000 at the end of the most recent reporting period.

A number of other hedge funds and other institutional investors have also recently bought and sold shares of the business. Proficio Capital Partners LLC acquired a new stake in shares of Sony Group in the 4th quarter valued at approximately $329,000. Oppenheimer & Co. Inc. lifted its stake in Sony Group by 411.0% in the 4th quarter. Oppenheimer & Co. Inc. now owns 239,888 shares of the company’s stock valued at $5,076,000 after purchasing an additional 192,940 shares during the last quarter. Oppenheimer Asset Management Inc. boosted its position in Sony Group by 384.7% in the fourth quarter. Oppenheimer Asset Management Inc. now owns 484,137 shares of the company’s stock valued at $10,244,000 after buying an additional 384,243 shares in the last quarter. Whipplewood Advisors LLC bought a new stake in shares of Sony Group during the fourth quarter worth $42,000. Finally, NewEdge Wealth LLC increased its holdings in shares of Sony Group by 382.0% during the fourth quarter. NewEdge Wealth LLC now owns 102,499 shares of the company’s stock worth $2,169,000 after buying an additional 81,235 shares in the last quarter. Institutional investors own 14.05% of the company’s stock.

Sony Group Stock Down 1.7 %

Shares of SONY opened at $25.04 on Friday. The stock’s 50-day moving average price is $22.05 and its two-hundred day moving average price is $16.46. Sony Group Co. has a 12 month low of $15.02 and a 12 month high of $25.64. The company has a market capitalization of $151.40 billion, a PE ratio of 20.32, a PEG ratio of 9.95 and a beta of 0.96. The company has a current ratio of 0.66, a quick ratio of 0.49 and a debt-to-equity ratio of 0.25.

Sony Group (NYSE:SONY) last posted its quarterly earnings data on Thursday, February 13th. The company reported $0.41 EPS for the quarter, topping 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%. On average, analysts anticipate that Sony Group Co. will post 1.23 EPS for the current year.

Analysts Set New Price Targets

Several research firms recently weighed in on SONY. Sanford C. Bernstein initiated coverage on Sony Group in a report on Thursday, January 16th. They set an “outperform” rating on the stock. StockNews.com cut Sony Group from a “buy” rating to a “hold” rating in a report on Tuesday. Finally, Oppenheimer reaffirmed an “outperform” rating and issued a $33.00 price objective (up previously from $25.00) on shares of Sony Group in a research note on Thursday, February 20th. One research analyst has rated the stock with a hold rating, three have issued a buy rating and one has assigned a strong buy rating to the company. According to data from MarketBeat.com, the stock presently has a consensus rating of “Buy” and a consensus price target 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.